BTCCREDIT
BTCCREDIT p2p loan: HOT offers $ 200,000 to be claimed
Overview
Blockchain makes history by transferring power from entities centered in the hands of consumers. This has empowered people to manage their own assets without interference from banks, brokers, or institutional monitors. This is a necessity that is welcomed because people take too much risk today by letting their crypto assets be controlled by a central entity. They do not realize that they are not, but the Wallet, Exchange, & Lending Platform that controls their assets. Therefore, they have given up control of their identity, privacy and money because they believe that they have no choice. But no more.
We aim to be the access point that gives these people choices. BtcCredit is a complete decentralized wallet that gives you full control of your Blockchain assets to Hold, Exchange, Lend, Borrow, Invest and Bets. This document outlines a decentralized Next-Gen Banking Ecosystem design that is powered by a decentralized multi-currency wallet, decentralized p2p loans, and decentralized p2p Exchange capabilities
P2P Market Analysis
It said, "According to Morgan Stanley, the market for Global Market Borrowing can reach $ 290bn. by 2020, with an expected Annual Growth Rate of Compounds of 51% from 2014 to 2020. "
The BTC Credit Team is trying to show the potential of this market, to explain that their truly innovative peer-to-peer wallet solutions have great potential.
Improve the Loan Market
Today the inflation-adjusted interest rates in various countries vary based on available liquidity. In the high liquidity market, Europe, interest rates ranged from 0.5 to 5%, in Russia 12-15%, in India 12% and in Brazil 32%. This shows clear inequality in the way access to the loan market is distributed throughout the world. We believe that this inequality between borrowers must be leveled and enormous market value can be created in the process, especially through Arbitrage opportunities. The bank charges 5–12% of the loan and gives you compensation 0–1% for holding your assets. With the increase of crypto currencies and Blockchain, you can now become your own banking institution. BtcCreditmake this a reality for you. Not only this, you decide who you want to lend your money to, at which interest rate, and in what mode. All of this is available thanks to the Blockchain technology, which is the back of the BtcCredit Wallet .
Traditional P2P Loans
Traditional P2P loans are similar to institutional loans, where some credit history and credit worthiness of the borrower are taken into account. Borrower's creditworthiness determines the type of loan agreement offered. The method for calculating risk / credit scores is managed through proprietary algorithms / artificial intelligence. Differentiation is also maintained by means of handling defaults, and penalties are imposed.
Crypto P2P-Lending
There are several Crypto loan platforms that follow different business models. On the one hand they are like traditional loan p2p platforms with the ability to accept cryptocurrency as collateral. At the other end, they distribute all loan contracts on the blockchain and execute various events on loan agreements through smart contracts.
The blockchain technology, with its transparently transparent and non-transparent transaction ledger, forms an ideal system for managing loans with parameters such as mastery, interest rates, crypto guarantees, etc.
There are many platforms that offer crypto loans:
● Sofin
● Everex
● Ethlend
● Lendoit
● BTCPOP
Competitive Analysis
Platforms P2P distribution can be divided into three main categories:
1. Traditional P2P - Loans in the same country and in the country's currency
2. Cryptocurrency without a Smart Contract - Global loans with cryptocurrency like Bitcoin
3. Cryptocurrency uses Smart Contracts - Loans use Blockchain Smart Contracts as an intermediary.
Leading competitors
Lending Club (Traditional P2P) - Lending Club is a US peer-to-peer loan company, headquartered in San Francisco, California. It is the first peer-to-peer lender to register its offer as securities with the Securities and Exchange Commission (SEC) and offer trading loans on the secondary market. The Lending Club operates an online loan platform that allows borrowers to get loans and investors to buy notes supported by payments made to them. Lending Club is the largest peer-to-peer loan platform in the world.
The company claims that $ 15.98 billion in loans has come from its platform until December 31, 2015. BTCPOP (Cryptocurrency Loan without Smart Contract) - BTCPOP Ltd. was established in 2014 and has developed into an established peer-to-peer loan site. Loans peer-to-peer BTCPOP based on reputation and not on credit scores. Users can get loans from other members or make money by lending - all using Bitcoin. The BTCPOP solution does not offer Smart Contracts.
ETHLend (Cryptocurrency Using Smart Contracts) - The peer-to-peer loan platform is fully decentralized using Smart Contracts on Ethereum Blockchain to lend Ether by using tokens as collateral. But ETHLend does not produce a score, nor does it offer any Compensation Fund to protect lenders. Lately, they have added parts to their WhitePaper about prophecy and insurance, but contrary to their approach to using tokens as collateral, so the situation is unclear.
SALT (Fiat Uses Cryptocurrency as a Guarantee) - A centralized fiat currency loan platform for loan amounts higher than $ 5,000. He uses Smart Contracts only to deposit cryptocurrency as collateral. Their target market is borrowers with cryptocurrency who don't want to liquidate their cryptocurrency into fiat currencies. Only accredited investors and quality financial institutions can become lenders at SALT.
The Lender's Pride
The Lender's Pride platform proposes to allow the loan market with several unique features. The proposed system will form a forum for lenders and borrowers to check loan offers and loan requests including the parameters of loans offered. Based on their own risk perception ability to pay interest, lenders and borrowers will "shake hands" with each other to make loan agreements on the blockchain.
How does it work?
As a lender, users enter the system and fund the system resulting in a USDT Wallet. The system of making loan profiles where acceptable loan parameters are recorded. The creditor loan profile is part of the "credit market". As a borrower, users enter the system with the system generating Bitcoin wallets. Bitcoin funds in the wallet form a guarantee of potential loans. Loan terms are also part of the "credit market". The system's internal logic automatically matches and suggests existing loans and borrowers. The borrower or lender can also manually choose from a series of loan offers or borrower requirements.
After the loan is chosen, and both parties agree with the parameters in the book, a "handshake" is said to have taken place, which will result in the spread of intelligent contracts in the Ethereum network. The borrower's wallet will be funded with the requested USDT and a payment schedule will be made.
Repayment is recorded as the borrower to deposit the USDT installments back into his WSDT wallet. A set of terms and conditions apply if the payment is delayed, not enough or more than the required installments.
Determining the BTC CreditPlatform Considering competitors and analyzing market conditions and trends, BTC Credit has been able to identify 4 main verticals in terms of the services offered by the Wallet:
1. Loans and Loans
P2P 2. P2P Crypto Exchange
3. Self-selected ICO investment
4. Interest through betting
All of these services will be offered with the help of a Wallet on the platform. Think of the platform as a Bank and Wallet as a Bank Account. Analogous to the Banking System today, users can load the Wallet with fiat or cryptocurrency and use funds to utilize the services in all 4 verticals mentioned above.
Payment Terms
When the Contract is completed or in the case of confiscation of the borrower's request to return the BTC collateral deposited, they can submit a request for BTCwithdrawal and that can be settled.
Normal Payments - Admin pays installments on the Lender regularly and the Borrower pays the Admin regularly, the system will be notified by the blockchain about the date of the next installment from the Borrower.
Pending Installments - If the Borrower loses the date for Paying Installments, the API Interface will notify the Front-end of the Installment of the Lost Borrower. Borrowers get a 3 day grace period to pay installments. if installments are paid within 3 days, no fees will be charged.
Delayed and Unanswered Installments - If the Borrower misses the installment date, he will be given a 3 day grace period and even he cannot pay the Borrower will be fined for certain installments.
Defaulter Borrower - If the Borrower cannot pay 3 successive installments, the system will be notified by the blockchain because the Borrower is a Counterfeiter and the Front end can Seize the guarantee.
Pre-closing Loan - If the borrower wants the Pre-Closing contract, he can close the contract by paying the principle + 5% interest and close the contract but he can only do it if he has paid 3 installments in a row
Extra installment payments - here The installment amount is 1010 every 30 days, assuming the user deposits 1500 USDT / LTD and he is willing to pay more than the installment amount he can make, but the amount of the next monthly installments does not change the type. confiscation means the additional amount will be deducted from the last installment, so if the amount is greater than the last installment, then will consider the Last Second and so on, if the Extra amount is greater than installments 3. Finally he must Pre cover all contracts or he can reduce the work period to 3 installments.
IF the user confiscates, he can pay a 5% interest and close the contract by paying the remaining principle and 5% interest.
FOR
MORE INFORMATION WEBSITE: http://btccredit.io/
FACEBOOK: https://www.facebook.com/btcctoken/
TWITTER: https://twitter.com/btc_credit
MEDIUM: https://medium.com/@info_60688
INSTAGRAM: https://www.instagram.com/btccredit/
WHITEPAPER: http://btccredit.io/pdf/btccredit_whitepaper.pdf
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