Lendingblock – Decentralized Peer-to-Peer Marketplace For Loans
Lendingblock – To become a financial institution customer, you must comply with various conditions. If you say before, getting a loan is necessary only for the bank. Until recently, the process of applying for a loan involved a lot of things.
However, the bank currently maintains a fairly stringent requirement. Potential borrowings and like jobs are checked with customers, providing great credit in the form of cash and credit cards. To become a loan holder, in addition to desire, in many cases, there needs to be a stable salary, no delay in the loan, and satisfaction of other various conditions. Loan is not only an opportunity but also must meet the obligations of the borrower regardless of the financial situation, regardless of the location of the lender.
In addition, a large number of people are unable to obtain financial services including credit, and there are about 2 billion people worldwide. Imagine how many small and medium-sized enterprises, because it cannot start their development, and now the banks, the part of state subsidies are very small, they have all kinds of rights, it (about 20% of the required amount).
If you are not familiar with the work of smart contracts, I will explain to you: With the help of this technology, you can directly send money, provide services and receive goods, that is to say, they are automatically interactive forms that are most comfortable without mediation. That is, you can exchange currency, stocks and other assets, ownership or any book transfer without the participation of middlemen.
They allow you to make payments from your cryptocurrency account and receive contracts, documents or services stored in your account. At the same time, smart contracts contain both parties’ obligations and penalize them for violations, not only information but also automatically ensure compliance with all terms of the agreement.
That is, in a digital contract, the asset or currency is transferred to its surveillance to comply with the procedures contained in the contractual conditions. At some point, the plan confirms that the contract’s provisions are met and automatically determines what to do next – transfer the asset to one participant in the transaction or return it to another.
Borrowing blocks allow markets and base currencies to borrow implicit economic securities. In 20171, loans of $2 trillion were paid for securities, in fact, the central credit securities, which attracted all 12% of the valuation of low-cost promotional actions and bonds. This is not a bad idea that the modern form of capital cryptography and resource bazaars will be used later to prove the respect for financial development by comparing market development, but there is a faster level of election by considering the smoothness and continuity of the market. ,
Lendingblock will be leading the deal aimed at helping resource encryption, which solves problems and experts in economically encrypted loan agencies and private borrowers.
- Comparison between chains
Lendingblock allows translating the meaning of cross-credit in the crypto credit market. We will start with Bitcoin, Ethereum, and Ripple as our first credit currency unit.
- Not Dangerous
How to store the relative depositional encryption between different blockchains is based on the contract, and the information on the loan agreement is found to be published.
- Transparent shrine introduces SGX
In order to ensure cross-borrow transparency chains starting from the first day, we use Oracle-supplied loans, and collateral management and repayments begin with a reliable guarantee. By implementing Oracle as the code is implemented from within the Enix SGX, we can provide a password confirmation for the chain block, and in fact, he does enter a specific block of code with that.
The lending block creates a market and a monetary base for credit securities in recessive economics. In commercial centers, the valuation effect for the 20171 securities lending credit amounted to $2 trillion, accounting for 12% of all available stocks and bonds. This is a normal form of cryptocurrency and resource markets that can continue to be used after confirming the financing aspects of market development but considering market candidacy and smooth elections at a faster rate.
The potential is huge and it takes hours to work hard. What will be done to Lendingblock to create the right infrastructure and strong, so that it can better leverage the securities lending market to digitize and help raise up to $300 million in revenue over the next three years.
The platform helps lenders to earn additional income without doing away with ownership whereas the borrowers have a choice about the crypto asset to be borrowed, the interest rate they can pay and the collateral to be offered. Regular interest payments are paid during the lifetime of the loan. In the end, the repayment is distributed back while the collateral is returned.
Lendingblock will become the main transaction aimed at supporting cryptresources, which addresses issues of institutional and individual borrowers and loan specialists in cryptoeconomics.
- API access for institutional investors
For institutional and professional investors, we will still apply our API tools. Our API will provide public data on book orders, tariff tables in various currencies, information about the user’s account and the ability to place requests for credit / borrowing. The type of collateral does not affect the interest rate of the loan, which is based on the borrowed asset, but may affect the level of collateral required for the loan, or affect the amount that can be borrowed. It is not possible to change the type of collateral during a loan.
- Maintaining the appropriate level of security
The security level will be automatically monitored using validated data sources. If the security level falls below the collateral level (where the value of collateral falls relative to the value of the principal)
- The Borrower will be notified of the need for additional collateral
If the borrower does not provide additional collateral, part of the secured collateral will be converted to the principal to return the security level to the original required level.
If the level of security rises above the upper level of collateral (when the cost of collateral increases in relation to the value of the principal), the collateral over the ceiling will be returned to the borrower.
Lengingblock will give you the opportunity to diversify your portfolio, many small and medium-sized businesses will be ready to seek help from such a platform, you can create an additional source of income. I have, for example, about 100 different cryptocurrencies and I will be happy to lend and receive interest from them. You can get a double win: since the digital money market is now at an early stage of development, the cost of real tokens, supported by activities, will grow.
Honest ratings of borrowers will be compiled, which will allow them to choose more reliably and possibly increase the amount of loans. It is planned to create a convenient mobile application, integration into various websites, that is, to simplify access for ordinary people and for financial institutions. This ecosystem will allow the cryptocurrency economy to develop at a rapid pace, to increase the supply sector in the financial services market, and to connect offline businesses.
Reduction in fees, instant approval, secure operations, and multiple lenders grouped as an entity, available on a host of interfaces and brilliant set of technologies offered sway the stocks in favor of the venture. From an investor’s point of view, they have a chance to be a party to a new and parallel system and for users, it will be an altogether new yet profound experience to digitalize their borrowing and lending needs.
To know the latest information about LendingBlock project you can visit the link below:
ANN Thread: https://bitcointalk.org/index.php?topic=2963328.0
Author : ubay
ETH : 0xf684c669653b6cd2b606ecdfc69b69dff7935b2c