INLOCK addresses the issue of ‘the viability of spending’ digital currency holdings. Registration in the white list for your initial offer of coins opens today
BUDAPEST, Hungary, August 1, 2018 / PRNewswire / – INCOME LOCKER (INLOCK) [https://ico.inlock.io/], a platform where authorized lenders can compete for borrowers who wish to use their cryptocurrencies as collateral for the loans, today announced its global launch and the opening of its registration in the white list for a next sale of tokens on September 15. The white list ensures early registration on August 1 for those who wish to receive updates and announcements about the ICO.
The founders of INLOCK seek to design a safe and transparent market that serves as a gateway for institutional investors in the burgeoning cryptocurrency market. The potential risk for cryptographic collateral loans from the lender’s perspective is almost identical to that of a bank deposit, but with a higher earning potential. The loan model eliminates the need for an additional credit assessment because the borrower provides the collateral in the form of cryptographic assets. This system offers fast and flexible convertibility, and uses smart contracts to ensure equal conditions between borrowers and lenders.
Now borrowers can choose the most competitive offers from lenders without having to sell their cryptocurrencies to finance a temporary liquidity problem. Excluding interest payments, users of the INLOCK platform will pay all costs in ILK tokens (INLOCK): the costs of using the platform are not deducted from their guarantees, so they can keep the total value of their cryptogram when paying the loan.
The INLOCK platform is especially beneficial for those who could not access the loans before
The ILK Token (ERC20) will govern the relationship between the lenders and the holders of encryption, with 4.4 billion chips available for purchase at a rate of 1 $ per 100 ILK. Investors are invited to register for the sale of the token at: https: //ico.inlock. [https://ico.inlock.io/]io [https://ico.inlock.io/].
“INLOCK offers a new and powerful way to unlock the purchasing power of Bitcoin and other digital currencies while maintaining the price at which the borrower guaranteed it,” said Csaba Csabai, CEO and co-founder of INLOCK. “The INLOCK platform is especially beneficial for those who could not access the loans before, in addition to consumer segments that perform few banking transactions and lack a good credit score.”
With INLOCK, long-term cryptocurrency holders can have the best of both worlds; they can hold ownership of crypto while accessing the value of their digital assets, solving the spendability problem for billions worth of crypto. On the INLOCK platform, banks and licensed financial institutions compete for these customers, creating strong market competition and ensuring that interest rates remain as low as possible.
Peter Gergo, director of marketing and co-founder, added, “INLOCK allows institutions to enter new markets, which due to bureaucracy and other restrictions previously prevented capable lenders from offering their funds to suitable borrowers. INLOCK is the first lending platform where compliance with existing regulations is the top priority from day one. “
About INCOME LOCKER (INLOCK)
INCOME LOCKER (INLOCK) is a blockchain and smart-contract platform that allows cryptocurrency holders to manage short-term liquidity problems by taking a loan in fiduciary and using their existing cryptocurrencies as collateral. The company was founded in 2018 by a team of Fintech experts in Hungary with the aim of creating solutions for several use cases between the traditional financial world and the one based on cryptoactives.