SAVE Token
 | This user has made a public declaration indicating that they have a conflict of interest with regard to the following Wikipedia article(s): |
| Repository | github |
|---|---|
| Engine | |
| Platform | ERC20 |
| Website | saveinvest |
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SAVE (Token)[edit]
SAVE token is an ERC 20 token based on the Ethereum protocol. The token is managed via a Solidity based Smart Contract. During the ICO phase, the token will be generated by the smart contract and transferred to an ERC20 compatible wallet. The aim of the service is to provide a method of securing investors' investments into cryptocurrency.[1]
Background[edit]
The idea sparked from the lack of certainty in the market of cryptocurrency. According to the Whitepaper for SAVE[2], the service aims on providing 3 services:
- a service that secures investment in crypto against default;
- ease of use due to the complicated system of creating crypto wallets;
- easy trading and management of crypto
The system is aimed at bringing new investors to the market, especially people that are less tech savvy. They are people who wouldn't normally understand the concepts of Key Store and Private Key and who would like to use a familiar system like an App on iOS or Android.
SAVE[edit]
The SAVE service [1] will begin in August 2018 and will offer its users a simple system of cryptocurrency investment. The investor will choose an existing and verified[2] cryptocurrency like Bitcoin, Litecoin, Dash, Ripple, etc. and, according to the coin's risk profile, the investor will pay between a combined 5% and 7% of the initial value in order to secure the investment for a period of time. In case of default, the system will engage the buy back element that will pay the investor, in FIAT the initial investment and in return, the investor will have to give back the amount covered in crypto coins.
Platform[edit]
The SAVE token is based on an ERC20 Ethereum fork platform. This inherits all the benefits of the Ethereum platform. Following the ICO, the tokens will be available on the market as is the case with most cryptocurrencies. As a result, the token will become a coin and its sole use will be to facilitate the service that SAVE team plans to launch.
Criticisms[edit]
Cryptocurrencies are full of criticism at the time of writing this article. In Europe alone, many banks refuse any transactions that are thought to be linked to cryptocurrency. Meanwhile, large financial institutions release statements that are either for or against cryptocurrency in a confusing paradigm.
SAVE is a cryptocurrency and as a result, it falls under the same uncertainty.
- ↑ 1.0 1.1 "SAVE INVEST". SAVE INVEST.
- ↑ 2.0 2.1 "SAVE Whitepaper v3.0" (PDF). SAVE INVEST. 30 May 2018.
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