MoneyToken is taking on the tech world on two fronts. The crypto credit company leads in innovating in both blockchain and AI trends. Find out how it does this incredible feat here!
In the movie Money Ball, statistics genius Billy Beane said, “The first guy through the wall always gets bloody.” This doesn’t seem to ring true with MoneyToken. As one of the first of its kind in the cryptocurrency market, it does not seem fazed by its pioneering status. Instead, it relishes in the fact that they are the first ones through the proverbial wall. And now, they’re steadily smashing soft and hard caps with an entirely new bat made up of AI and blockchain.
MoneyToken, a blockchain-based lending platform that accepts cryptocurrency, hits the ground running with its ICO. The crypto-backed credit company is a leader in both AI integration in blockchain technology.
Innovative New Credit System
The company promises a way to help cryptocurrency market players to use their crypto assets without losing out on the chances of growing their money. They accomplish this by letting customers borrow funds at a 2:1 cryptocurrency to fiat currency ratio and letting the borrower pay only the principal and interest regardless of the gains that the collateral makes within the loan’s period of effect. Upon full repayment of the loan, the borrower gains all of the collateralized crypto assets back. This helps customers spend their money while not losing out on the opportunities to earn.
Smashing ICO Caps
During this period of cryptocurrency’s history, MoneyToken means more than just a simple loan. It can potentially help market players and early adopters gain more from ICOs and crypto mining. Investors, for example, can diversify their assets with a loan even without a huge capital. Miners, on the other hand, can acquire more equipment to increase their output through loans without having to exchange their crypto assets for fiat currencies. In both cases, the market players get to keep their positions as they try to increase their output.
This idea has picked up steam as it broke its presale soft cap of $1.5 million only a few days in March and reached the hard cap of $5 million on May 1st. The final round of token sale has already reached $8 million as of May 5th which is a good sign that the company is on track to get its $35 million hard cap by June 6.
During the sale period including the private, presale, and initial coin offering, the value of each token is pegged at $0.005. After the sale, or if the hard cap is reached before June 6, it’s going to increase by tenfold to $0.05.
AI + Blockchain
The ICO isn’t even the most exciting news about MoneyToken because the innovative company’s value transcends cryptocurrency. At the heart of the blockchain lies Amanda, deep learning capable AI tasked to help clients through the loan application process, cryptocurrency assessment, and finalizing and executing the terms. Amanda functions essentially as the brains behind the formulation and implementation of smart contracts, one of the first AIs to be able to do so. This makes the entire loan process fully automated and seamless. This is one of the first working versions of the long-awaited fusion of two of the world’s hottest technologies. Artificial intelligence meets blockchain, is an experiment that technologists and enthusiasts have been waiting for and MoneyToken is at the forefront of it. This is perhaps one of the reasons how the ICO is generating the momentum to hit its hard caps.
Cementing its position as a leader and pioneer in the cryptocurrency credit game, the company has already applied for a patent on the World Intellectual Property Organization. However, it does not intend to use royalties on companies who aim to get in the same industry. Instead, it promises to keep the technology open for new players in a bid to increase much-needed assistance to the market players in the cryptocurrency world.