Bitcoin Forum

Hi. Happy to give this heads-up on the forum about the upcoming pre-ICO of the company I founded - Lendex.io (http://Lendex.io).

Since I am new here, first I’d like to introduce myself — Alexey Sidorov, Founder and CEO of silkwayventures.com (http://silkwayventures.com). I'm an ex-banker, 5X founder, tech entrepreneur passionate about fintech. I've been working hard with my team for the past 9 years to grow 4 companies, so they are still up and running and are profitable. Our group has 100+ staff in 3 countries, seven-digit annual revenues in USD.      

By this post, I'd like to invite new, like-minded community members to share opinions, criticize, ask difficult questions but ultimately — to join us and get the benefits from this new, exciting ICO.  Our intention is to make this ICO a really big, high-calibre project that makes a global impact. Since good companies don't happen in a matter of months but years, we'd like to take it slowly, maybe even making it the slowest ICO of 2018, but one of the strongest at the same time. So we won't push for any immediate actions and don't want to create any hype.    

Like many of you, I saw a ton of pushy and aggressive ICO marketing copy-paste campaigns throughout 2017. So I thought that rather than throwing a whole bunch of commercial/marketing materials about price, bounty, limited time to join and all that stuff, I want to start by sharing a general concept and explain the substance behind what we are doing. And I want to make it as easy to read as possible.  

Lendex is nothing but the team of enthusiastic people that share the same vision and have been working together on very similar business for a number of years, but without leveraging the blockchain.  :) :) :)

- We are excited about leveraging blockchain technology in our business and developed the concept of cross-border marketplace lending, that we intend to build on top of our existing business.
- We have a fast-growing digital microlending business operating since 2014 in Asia that will support our ICO.
- We have the strong team of ex-bankers, coders, digital marketers and finance professionals.
- We want to target 500 million unbanked and underbanked consumers in Central and Southeast Asia.
- We want these consumers to be able to borrow short-term unsecured microloans through our P2P marketplace.
- We don't have a "decentralized everything" concept but believe in the synergies of integrating crypto-economy with the real-world financial and IT infrastructure through which we can reach millions of users across Asia.
- We believe we will make it work and apply our expertise in loan origination, credit scoring, identification and fraud management.
- We are quickly developing our expertise in crypto-space and blockchain to make Lendex transparent, reliable and decentralized.

We launched a few groups to reach us and welcome new connections! Please follow us and engage in the conversation! Details about ICO will be added soon and we will post updates regularly.  ;)
 
www.lendex.io (http://www.lendex.io)
Telegram Community Group https://t.me/lendex_io (https://t.me/lendex_io)  
Twitter: https://twitter.com/Lendex_io (https://twitter.com/Lendex_io)
Medium: https://medium.com/@Lendex.io (https://medium.com/@Lendex.io)

 
 

Im waiting for more  ;D

And you will surely get more soon :)

lending platforms are on the rise nowadays. what do you mean by real-world consumers? are there aliens consumers? wondering why you put that on your title thread...

Good question, actually. What I meant was that most of the lending product ICOs are designed for the crypto-economy, a really tech savvy users. We want to offer fiat currency loans to the people who hardly know what blockchain is, simple underbanked people who are not part of crypto space but... the real world ;)

Description is quite large. But, unfortunately, there is little concrete and much pathos. A type of enthusiastic people. And how is enthusiasm monetized?

We first want to think about how to solve somebody's pain, if we do it successfully, monetization will not be a problem. We proved that number of times through our own experience. Having said this, I am not naive -- I know how we will monetize. In marketplace lending monetization comes from linking lenders with borrowers and providing services to both.

Lenders want to choose the right borrowers, generate returns and get their money back. We will offer loan origination (marketing, customer support, application processing) credit underwriting (scoring, verification and identification) and money delivery both-ways (disbursement and collection) and debt collection. Data integrity and transparency will be provided through the blockchain.
Borrowers want to get their loans fast and easy. To them we will offer user-friendly microloan products through a desktop or mobile device 100% online. They will be able to get cash in fiat currencies to their bank account or through local networks of cash disbursement and collection agents in each market of our presence. 

That's how we meet the needs of key users of the platform and charge fees for our services. Ultimately, lenders will be able to generate double-digit returns typical for emerging markets. While borrowers get recurring access to credit that is not currently available.   

This looks interesting but there are already a plethora of non-blockchain micro-lending and small p2p lending services already available that aren't on the blockchain - how does putting the idea of your existing moneybank business on the blockchain help the consumer, lender and investor?

As an aside, I wouldn't underestimate the power of enthusiasm. As Ivern Ball once said "Knowledge is power, but enthusiasm pulls the switch"

Great question and comment - thanks!

The non-blockchain microlenders and P2P players are tapping into a huge underserved segment, and its massive demand far exceeds their financial and technical capabilities. Globally it is still a fairly non-competitive space and will remain so for the next 5-7 years. China is the only market it is really tough in terms of competition. So, we think that existing rivals isn't a threat in this nascent industry - tehre is enough room for growth for all!

As an example, banking is a much older industry and more competitive, yet quite a few non-blockchain and blockchain startups have been trying to disrupt banking industry over a decade or so, and still, haven't gained significant market share. Yet a lot of VCs and ICO investors poured money into these startups and still believe in their future.  

Sorry, forgot to answer on the question about use of blockchain and how it helps the users.  Microlending P2P industry has two biggest growth deterrents: 1) access to funding because microlenders are not allowed to take deposits and 2) lack of technological sophistication required to process large volume small size transactions efficiently and mitigate risks using data science and machine learning, etc. We want to tackle both problems by leveraging on blockchain technology to provide a high level of data integrity to build trust between lenders and borrowers from different countries, which is hard to do without decentralized transparency blockchain brings. Access to global funding adds value to Lendex business model and i.e. to the investors while providing the possibility to lenders from developing countries to invest in the high yield diversified portfolio. Borrowers get access to user-friendly service and get online loans at good rates because of automation and cutting off the loan sharks, and they also can build the credit rating/ repayment history that becomes transparent for other lenders through the blockchain.       

interesting and worth the waiting  ;D ;D

Thanks for taking the time to answer my questions in detail - I believe there are big opportunities in the microlending p2p space.

What marketing is being done to raise awareness of this project? I'm surprised there haven't been more comments on this thread.

My pleasure. We are getting ready to finalize the WP and launch of full-verion of the landing page before we start pushing hard on marketing...

I respect your approach but the whitepaper is a must to get the discussion going that you are looking forward to. No chance to discuss anything for now. Looking forward to your paper though!

Looks like another lending coin scam.

No White paper
No Block Explorer
No Team

Scam in the making, don't be stupid enough to invest in this.

haha I also like the smileys in the ANN of this "super legit solid serious" project. As if...

Looks like they were since removed to try and add some legitimacy of the (cough) project.   :D

Meantime the dev is cutting and pasting other white papers as we speak. 

You are mixing us up with somebody else :) Probably scammy ICO Lendexcoin, that is trying to copy us...

Stay away from LendexCOIN They are using our name here http://bitcoinrollers.com/earn-free-tokens-coins-new-ico-lendex-peer-to-peer-lending-starting-80-token/

So is your marketplace centralized or decentralized, and if you 'don't have 'centralized everything'', what does this actually mean? Will your system have a single center? The notion of synergies in connection with the project described looks quite vague (I believe the Whitepaper would help)

Really?
Hard to tell when you have a one page website and no whitepaper. 

You are still a scam.

Do you think Tim Draper would be talking to a scammer? :) Check this out --> https://www.youtube.com/watch?v=WPfwdMS4ATI

That was from November 2017 and he was not talking about Lendex.io more so he was just talking about Crypto and ICO's from the looks of it that interview was made before you even launched your ANN.

Also if you are serious, why would you release a half assed website with no Whitepaper, no team and no plan and then expect not to be scrutinized.  You have gone about things the wrong way from the very start.

A Whitepaper is essential to a upcoming or potential ICO and you do not even have that, so how could you expect anyone to trust you to run an ICO properly if you put up a one page website that looks like it was made by your little brother at school?

Totally happy to get scrutinized - no problem with that. I agree that our mistake was probably to choose the wrong timing and the BTT thread for the announcement, cause it apparently more is expected from us than we currently have. The high-level concept and info about the team in a one-pager has been there from day 1, but one-pager is just too far from everyone's eyes and takes extra efforts to download...  

But it doesn't mean we are a scam, which is the only point I am trying to make here. Just following the links provided here or simple google search will make it as clear as a day to any smart person.

As regards Tim Draper, it was actually our first public announcement for Lendex at a Fintech event with Tim's participation a few months back, and indeed it was before the announcement on BTT, but I see no relevance of the timing of that vid to what we are discussing. We took part in the startup pitch competition, interviewed Tim and had a great time launching Lendex.  Once I get more established account I'll share some pics here :)

  

Nono, the smileys are still there :) ;D :D as if any legit project would include some emojis into its main announcement :D cutting and pasting white papers is also a fun thing to do. Why not? :D

Seems and sounds interesting. Have looked through your various pages. Hope you will post your whitepaper soon.