PHI is a decentralized commercial bank and stablecoin. Today's commercial banks face harsh structural challenges, a physical operating infrastructure, large number of redundant employees, and compliance processes all have high natural costs. The existing banking mechanism now have repeatedly generated a large amount of bad debt that impacts the economy. It even triggered the subprime mortgage crisis in 2008. In addition, many commercial banks are using their monopoly to hinder the pace of other financial innovations.
The PHI system restructures an autonomous lending system consisting of a smart contract system - this system relies on algorithms and an open loan certifier network for lending, and its reliability is far beyond the traditional lending mechanism. At the same time, like traditional commercial banks creating currency, the PHI autonomous lending system can create a stable native currency (like the US dollar, euro, renminbi, etc.) on the blockchain for all users.
PHI official website：https://www.phitoken.io/
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