How Will Sologenic Disrupt the Financial Market?

Sologenic is a product of CoinField. The main goal of CoinField is to become the most influential blockchain-based company in the world by facilitating the mass adoption of cryptocurrency through Sologenic, an ecosystem built on the XRP Ledger. SOLO users can invest, trade, and tokenize assets such as 30,000 stocks and ETFs from over 25 different global stock exchanges. Our mission is to modernize the traditional functions of financial markets and open up the global market to everyone, no matter how much money they have, no matter where they live in the world.

The Problem with Traditional Financial Markets

How will Sologenic disrupt current financial markets?

Firstly, physical money cannot be used online, and sending fiat currencies from one country to another is slow and expensive. With cryptocurrency, moving money around the world happens almost instantly for a fraction of the cost. 

A major problem with the current financial market is that people must go through several hoops to trade on stock exchanges around the world. For example, a person in Canada must go through multiple brokerages in order to invest in companies listed in China or Japan. Additionally, it’s often required for an investor to have a certain amount of capital or be accredited in order to directly invest in foreign markets. The current system inhibits people with small amounts of capital from acquiring global assets. 

There are billions of people in the world who are unable to access global assets

These people can range from low-income families and people whose finances are restricted, to people who do not have access to learning tools about the stock market, and people who live in risky countries with geopolitical uncertainty. Traditional firms are uninterested in serving people with low capital, effectively disallowing most of the world from buying stocks and investing in the market. It is largely an unfair system, which Sologenic aims to transform.

Tokenizing Assets

How will Sologenic disrupt current financial markets?

Sologenic aims to transform the traditional financial market by tokenizing assets. This means each digital token will represent an ownership stake in the asset. What’s more, trading on the stock exchange with SOLO means users can buy fractions of shares. They will no longer have to buy one whole share of a company in order to own a part of it, meaning just about anyone can own stocks in companies of their choice without the need for a certain amount of capital. 

Trading assets on blockchain technology will ensure transparency and remove third parties from the process. It means people, everybody, not just high net worth individuals, can access global markets on a decentralized exchange and have direct control of their investments. Tokenization of assets opens up the global economy to people who under the current system, cannot access it.

Trading assets will happen in real-time, offering fast, secure and transparent transactions. By building the Sologenic ecosystem on the XRP Ledger, it allows Sologenic to focus on functionalities rather than underlying technology. The XRP Ledger offers a significant advantage in its speed. For example, a bitcoin transaction could take 10 minutes or even hours, but XRP sends transactions in 4-5 seconds. Therefore, Sologenic users will be able to trade almost instantly.

Burn commitment

How will Sologenic disrupt current financial markets?

Sologenic has a 100% burn commitment. What this means is that transaction fees generated through transfers and decentralized trading will be “burned” instantly by being sent to the gateway’s issuing address (also called a black hole). This is done to bring down the total supply of SOLO coins which in turn makes remaining SOLO coins more valuable. This practice makes an equilibrium that in the long term makes it impossible for the SOLO coins to deplete due to higher valuation of coins and lower supply. 

SOLO Coins

To facilitate buying stocks with crypto, Sologenic deploys SOLO Coins. These provide liquidity, bridging the gap between crypto assets and non-blockchain-based assets. SOLO Coins are paired directly with fiat currencies as collateral to settle with third-party brokerage firms, allowing liquidity to be moved in seconds.

SOLO holders will also be able to convert their assets to purchases of everyday goods and services with the use of SOLO Cards, which act like regular credit cards, enabling users to spend their crypto instantly anywhere in the world. Utility bills, shopping, and ATM withdrawals can all be made with SOLO Cards, encouraging the mass-adoption of cryptocurrency. It would be empowering for people all over the world to use crypto cards for everyday spending, taking power away from big banks, back to themselves. 

Buy SOLO Now

Sologenic IEO Public Sale is happening now, and it ends on February 25 19.00 CET. The public sale is available globally except in the USA and Canada. There is no invite required for this and in order to participate, users must have a funded CoinField Pro account. From there, users can make fiat or crypto deposits into their wallets. The decentralized SOLO Wallet app is available to download from the App Store and from Google Play. Sologenic is in the process of finalizing the launch of its new products and services such as crypto cards, decentralized exchange, and trading. 

The Future

Imagine a world where people have complete control of their own money and assets, where they no longer have to go through third parties or wait days for transactions to complete while paying exorbitant fees in the process. A world where no matter where you live, or what your income is, you can trade on global stock exchanges. A world where people no longer have to trust banks and governments with their money. That’s the dream. That’s the goal that Sologenic is working towards.

For more detailed information about the Sologenic ecosystem, please refer to the white paper.