NELUNS: THE NEW GENERATION FINANCIAL ECOSYSTEM TO CURB THE BARRIERS TO CRYPTOCURRENCY MARKET

aaakosuahumble (28)in #cryptocurrency • 6 years ago

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The emergence of cryptocurrency has brought a great change in our financial transactions. Several of the early enthusiasts have been turned billionaires through cryptocurrency. The sudden rise of almost all cryptocurrencies, especially Btc at the ending of last year have drawn a lot more people into the cryptocurrency world. Despite this, several investors are also very reluctant to enter into the cryptocurrency market because of the several problems battling with cryptocurrency market currently. Some of these problems include but not limited to;

Limited amount of banking services.
Limited selection of financial instruments.
Difficulties with converting cryptocurrencies to fiat.
Challenges in working with cryptocurrency exchanges:
a. Exchanges crash during peak loads.
b. Issues with registering and passing verification.
c. Fund withdrawal limits.
d. Big losses due to hackers attacks.
A near full absence of cryptocurrencies being utilized as a means of payment.
Absence of insuring trades and transactions.

The aforementioned problems have become a major barriers to investors and have prevented them from entering into the market. Though several platforms have identified one or many of these mentioned barriers but have failed to practically bring a solution because they tend to tackle the issues separately. Neluns believe that all these barriers co-exist and hence the need to adopt a comprehensive approach to curb and eliminate the barriers to the cryptocurrency market.

NELUNS MISSION

It is our mission to create an innovative financial ecosystem, combining within itself a bank, which operates with fiat and cryptocurrencies, a cryptocurrency exchange and insurance company, thus, creating conditions for the quality development of the cryptocurrency market and inflow of new participants and new capital.

NELUNS GOAL

It is our goal to create a gateway connecting the cryptocurrency market with the traditional financial market by creating an innovative financial ecosystem, and open access to cryptocurrencies for a broad range of individuals.

UNDERSTANDING WHAT NELUNS STANDS FOR: NELUNS FINANCIAL ECOSYSTEM

Neluns wants to build a financial ecosystem which uses a comprehensive approach to handle the barriers which hinder investors from entering into the crypto market. Neluns will combine several amazing features to reduce/eliminate risks in crypto trading to remove barriers to investors. Neluns ecosystem will be built in accordance with all necessary regulatory and legal norms to promote high security of our ecosystem. Neluns ecosystem will operate to meet the regualtions of recognised bodies in the world such as The Bank of England, FCA (Financial Conduct Authority), FSA ( Financial Services Authority). Neluns ecosystem comprises three (3) components instituted to boost the market and eliminate the numerous risks the crypto enthusiast encounter. The three components include

The neluns bank.
Neluns exchange
Neluns Insurance.

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THE NELUNS BANK

Unlike the traditional market system where there are numerous banks available, there are few banks services available to crypto market to enable crypto users and participants maximize profits. Neluns Bank is an officially licensed commercial bank registered in accordance with all regulatory requirements. The Nelun bank will provide numerous services by initially combining classical banking services to banking on the blockchain. All operations of the bank will be available in fiat and cryptocurrencies.

Neluns will utilise leading and modern technologies such as IBAN, SWIFT (SWIFT provides a network that anables financial institutions worldwide to send and receive information about financial transactions in a secure, and reliable environment), and SEPA (SEPA ensures that payment within Europe take place as simple as within a single country) to offer its users amazing services. Neluns bank users will have access to IBAN (personal and corporate multicurrency account) which will enable users to operate in USD, EUR, GBR, and in cryptocurrencies (bitcoin, dash, ethereum, XEM). IBAN is a unique identifier that helps banks to process payment from person to person automatically.

Neluns will exist in mobile application form on android and iOS and will hence make operations easy and accessible irrespective of the users’ location. Neluns will connect with variety of payment system such as master card, Visa, American Express, etc. Users with the card can make payment to merchants in both fiat and cryptocurrency and can also deposit into their Nelun bank account through ATM.

Neluns bank will provide some services such as deposit, giving of loans to users, and p2p lending. All these operations can be done both in fiat and in cryptocurencies.
Nelun bank will also offer escrow services to protect users from the numerous fraudulent ICO projects. Funds generated during an ICO of a project will be held in an escrow account will be released to the project as the project matures through its roadmap. Any deviation will mean that the remaining funds be sent to the investors in a ratio of their investment.
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THE NELUNS EXCHANGE

Neluns team have conducted a comprehensive analysis of the current exchange platforms available and have hence identified the major problems battling with them all as earlier mentioned. Having identified these setbacks, Neluns exchange is built with extraordinary features to eliminate the identified problems and help make users life more comfortable.

Neluns exchange is not just an exchange but operates with a ‘bank guarantee’ principle. Neluns exchange as part of the neluns ecosystem is closely connected to Neluns bank and all user assets are legally insured. Investors/users asset are connected to IBAN in Neluns bank and are legally protected. All operations on the exchange are done in accordance with legal norms.

Neluns exchange will be built with amazing features such as high speed to enhance easy fund withdrawals, high security to avoid cyber-attacks, high performance during high loads, and effective user support services to provide user-friendly ecosystem.

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NELUNS INSURANCE

There is no doubt risk abound in cryptocurrency investment and trade. With the incidences of numerous losses encountered by investors through trading and many other ways, investors fear to enter the crypto market. With our goal to expand the crypto market, Neluns will start Neluns insurance to cater for the financial risks of its users, tied to trading and transactions.

Users will have access to full and partial insurance. With full insurance, the base insurance premium amount will be 10% from the total trade/transaction sum.
Users will have the following insurances services;

Risk insurance for defaulting counterparties when executing transactions.
Insurance in case of unforeseen circumstances during transactions.

As we develop our ecosystem, we plan to expand our insurance services to include credit and deposit risks, investment risks, and financial guarantees.

NLS TOKEN

NLS is ERC-20 security token which will be used within the ecosystem. NLS token can be acquired during our Pre-sale, Pre-ICO, and the ICO and after listed on cryptocurrency exchanges. Holders of our token will receive 50% of the profit of the ecosystem quarterly base on the total token they hold. Several other bonuses and privileges when using the products of the Neluns ecosystem.

NELUNS TOKEN DISTRIBUTION

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