Centralized banking and its impending collapse is the writing on the wall for everyone to see. The forced mergers, the closing down of bank branches, the case of banks trying to become too big to fail and other issues tell us that this industry is not going to survive unless drastic competition and alternatives are given to the public.

Blockchain-based decentralized banking and financial services are often seen as a practical alternative to the current centralized banking system. They tend to accept both cryptocurrencies and fiat currencies in the accounts in their system.

But, the cryptocurrencies are incredibly volatile. How do you offer them as loans when they could be worth twice in a few days and still remain in profit for sure? EthereCash, a new blockchain-based P2P lending/borrowing that allows a person to deal in both cryptocurrencies and fiat currencies seems to have found a viable solution to this banking chaos.

EthereCash aims to become the first fully functioning financial platform to emerge from the crypto world that works for all. Instead of getting loans based on some arbitrary trust rank, one can actually get loans in fiat currency against the cryptocurrencies stored in one’s wallet. This allows him to pay back in fiat currencies while keeping the ownership of his valuable tokens that are going to be worth a lot more in the future.

It is a win-win situation for both lenders and borrowers which is seldom the case in the conventional banking networks where interest rates are extremely high, and the banks probably takes assets as assurances that are worth a lot more than the loan itself.

It is a quick, cheap, simple enough and extremely useful approach to make basic financial services amazing simple and straightforward with little risk to both parties. One can lend to people around the globe regardless of borders that banks have to consider. Cross border money transfer is also incredibly expensive and subject to regulations and taxes and all of this harms the financial economy. EthereCash aims to become a solution for this issue once in for all.  Other extremely useful services offered by EthereCash include Crypto Debit card which the user can use to for:

• Multi crypto storage
• E-commerce
• Fiat ATM withdrawals.

Etherecash is a lawyer-backed platform and it means that the smart contracts have been made transparent, reliable and robust with the help of actual lawyers who helped develop this platform. The platform is based on the Ethereum blockchain’s smart contracts option.

Etherecash Token Generation Event

The EthereCash is undergoing an ambitious Initial Coin Offering (ICO) right now with a funding target of over $100 million. The ICO began last month and will end on December 19th, 2017. There are over 144 million tokens offered as part of the ICO and investors can avail discounts of up to 10% (only this week). A large chunk of the money raised will be for the development of the platform.

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