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The world of investing can be a hazardous place. Not only are investors subjected to unpredictability related to economic performance, inflation and regulation, but events unconnected to finances (such as earthquakes and tsunamis) may have an impact on underlying profits. If this wasn’t enough, less regulated markets, in particular crypto-markets come with another set of risks: scams and thefts due to hacking. As digital communication continues to advance and become widespread, these types of scams are becoming ever more common and also harder to identify.
Some investment schemes are very legal by nature but are not always covered by the government-backed Financial Services Compensation Scheme. An example includes some peer-to-peer lending platforms which typically provide unsecured credit for car loans, home improvements and to pay off other credit card debt. There is no guarantee that the money will be repaid, no compensation and there is no insurance policy attached to it.
The lack of regulatory oversight in crypto markets and absence of insurance provision does not help the investor, nor the borrower in this case. This is why the team behind Escroco has filled the gap in the marketplace by creating an escrow and insurance service that aims to connect investors with borrowers in a way that lowers risk and maximizes profit.
The advent of blockchain technology and smart contracts makes it possible to create a platform that maintains the transactional interaction between lenders and borrowers in a safe and secure manner, while focusing on the primary objective of the transaction which is the satisfaction of the contract. This is achieved through an escrow architecture and smart insurance mechanisms. Unlike many other blockchain based technologies which depend on its own market activity to generate value for their coin-holders, Escroco is designed to depend on everyone’s investment across the crypto-market, existing and upcoming. The ethos of the company is security and trust – the aim is to minimize the risks that investors are exposed to.
The Escroco (ESC) token was created using Wave Blockchain technology, one of the fastest growing platforms in cryptocurrency space. The tokens were designed to benefit not just investors and borrowers, but also those who support the company’s vision.
On the one hand, the platform for the borrower will be used to create investment packages and verify this investment before it is posted to investors. On the other, the investor’s platform shows verified investment packages and the terms of those packages. There are also options to get involved in crypto mining, crypto trading and other non-crypto based packages. The Escroco token will work as escrow and insurance that aids investors when bad investments occur – therefore investments are insured and protected by the company’s own currency Escroco. Key target markets for Escroco are Dubai, Switzerland as well as other countries which do not tax the crypto-currency framework.
Currently, the team is announcing a cash airdrop (Escroco Cash Airdrop or ESA), where the new token will be worth $1 which the holders will get for free at the ratio of 4:1 (4 ESC get 1ESA). Only those who keep their coin on a waveswallet.io will be able to get the new coin and the date of the airdrop is to be between 15 Feb -25 Feb.
Last modified (UTC): June 24, 2019 8:35 AM