Singapore developer (programming) Sin Tan Soft Pte Ltd and Singapore business broker VS Sistem Pte Ltd signed an agreement to create three Guarantees, which consists of five, nine and fifteen cryptocurrency CryptoCurrency Guarantee (hereinafter CCG), based on the existing blockchain Platform.
“CCG is created thanks to an investment company from Dubai, which funds developers in Europe, the Caucasus and Central Asia, Africa and South America. This client is the owner of a large amount of cryptocurrency and will use it as collateral for CCG in real estate transactions, securities, as well as in buying and selling expensive cars and antiques”, director of Sin Tan Soft Pte Ltd, Dang Thi Phuong Thuy, at the Conference of Seamless Vietnam 2018 held in Ho Chi Minh City said.
CCG – is a stable financial instrument in terms of volatility. For instance, when an investor sells a CCG property to a buyer of real estate or other properties, using a smart contract, it allows buyer to reduce the leverage due to the absence of advising party. The CCG price will be set as a result of the equalization between supply and demand for the property, and at the end of the transaction it will be recorded and redeemed to the buyer at 0%. What will this financial instrument give to the market, when it is included in the blockchain? A block chain is an immutable register in which transactions with a CCG can be recorded. They are automatically registered when certain conditions are met. The advantages of the register are transparency, traceability, reliability and increased security, decentralization and security, which give the market three types of price reduction for any property. Firstly, such transactions will exclude traditional financial intermediaries, who earn up to 5% of the value of real estate. Besides, intermediaries like realtors who earn up to 5% of the property price will be a thing of the past. As a result, the blockchain-based CCG will lower the price of real estate by as much as 10%. Secondly, the cost of real estate construction will be reduced by 20% due to the investor’s mutual settlements with suppliers of building materials and work in the same block chain using CCG. Thirdly, fraudulent schemes related to the falsification of documents will be impossible.
The new Blockchain platform with CCG Guarantees eliminates the need for intermediaries such as lawyers, agents, financial and insurance institutions. Paying for property using cryptocurrency will also help buyers bypass bank charges.
CCG reduces deposit fees by offering intelligent contracts that can be customized to meet the demand of buyers and sellers. CCG will visibly revitalize the markets and make real estate investments accessible to more people.
The CCG is a consolidated currency derivative consisting of quoted cryptocurrencies with regularly updated weighting based on publicly available data. The CCG offers both individuals and market professionals stabilization in the form of Cryptocurrency Guarantee, hedging exchange rate volatility and purchasing power of individual currencies.
Currency volatility creates disharmony and is considered as a great threat to investment. This leads to chaos not only in world trade, goods pricing, but also makes investment planning ineffective.
The advantage of CCG is that it is a natural currency stabilizer.
CCG is not a release-ready banking product, it is an alternative and a market solution for participants in the transaction, since the CCG is free from potential manipulation by external factors.
CCG offers the opportunity to receive new revenue from a new opportunity. It offers a wider range of benefits than other tools, and avoids the problems associating with it.
CCG is considered the perfect management tool. CCG gives trade parties a head start and increases confidence in trade, eliminating uncertainty, providing a less volatile trading environment for participants in transactions on equal terms, automatically cutting off a significant portion of excess participants and associated costs.
The principles underlying the CCG have been tested, analysed and approved by a wide group of economists and market participants. It is based on the CCG Limited algorithm. CCG quote is produced in real-time CCG Limited in an environment with multiple redundant data to ensure availability of 365 × 24 × 7 quotes with monitoring and rejection functions. Real-time CCG quotes are available through the Interactive Data Collection (“IDC”) through its data terminals and data channels. Currently IDC calculates and offers three types of CCG based on 15 cryptocurrency pairs:
- CCG CryptoCurrencyGuarantee (Basket No. 1) # 147285
Crypto Currency Guarantee consists of 5 coins: XRP, LTC, XLM, EOS, ETH.
- CCG CryptoCurrencyGuarantee (Basket No. 2) # 147289
Crypto-Currency Guarantee consists of 9 coins: XRP, LTC, XLM, EOS, ETH, ADA, DASH, ZEC, NEO.
- CCG CryptoCurrencyGuarantee (Basket No. 3) # 147215