Placing one’s investment in the hands of another human being with little more than a word holding them to their obligations may be quite an insecure thing, which makes risk management one of the most arduous tasks. There might be substantial collateral on the line (which, by the way, has become rare over the last few years), but still even if there is, it is usually a minimal amount compared to the outstanding balance.
These leaving creditors starting out on what could be a very unstable and predictable model. It only gets more complicated when these loans start happening across international lines.
We live in a world where international loans are no big deal because the costs of top quality lawyers, who can oversee the transfer and its legality, is such a minute amount of money compared to the sums involved for those, who cannot count on the lawyers to oversee everything.
At the same time, international loans are notorious for being quite complex and time-consuming, in addition, all the parties involved may get caught in the net of red tape.
Gelios is a P2P lending cryptocurrency company, which is creating a community built on trust and innovative technology, while seeking to battle the problems inherent in this industry.
A common problem, that a user may run into, is the risk of ending up with the wrong person for intended funds. Security is the signature feature of cryptocurrencies, and the Gelios token is no different here. The Gelios ecosystem is built from the ground up to be completely secure. There is always a risk that the transfer will be withheld by the government or could end up in the hands of the wrong person – with Gelios you can be sure that the recipient is the person you want to receive the money.
The Future of Privacy
The Gelios platform provides its users with complete control and privacy. Currently, most transactions occur online or via one or multiple networks being recorded by many governments, businesses, and third parties. When the world was utilizing purely physical paper and metal money, the vast majority of transactions were entirely private – there was no one butting in, no one reading the transcript, and no-one calculating how much you have earned, borrowed, or loaned. The Gelios platform works to bring that glorious past back.
Currently the platform is hosting its main token generation event, which went live on the January 21st 2018, and will come to a close on the February 21st 2018. The Gelios native token – GLS – is the equivalent to 1 USD and in return for early contribution, Gelios is offering a 100% bonus. The project’s soft cap is set at $150,000 for the Pre-TGE and $500,000 for each round thereafter. The hard cap has been set at $7,000,000, with a total token supply of 16,808,824, 8,572,500 of which will be made available for the community. All unsold tokens will be burnt in accordance with smart contract rules, to preserve token price flotation.