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There are also others like Fintrux. But both Debitum and Fintrux target small companies. The interesting in MaxiCredit - https://www.maxicreditcompany.com - is that it is about a wider range of lending. Even personal loans. |
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First the second question:
Theoretically yes, it can worth 1000 times more a year later. But the money supply is continuously increasing so there is only an extremely minimal chance that will happen.
As of a 40% gain need an 18-day continuously increasing. In a speculative way, it isn't profitable, because of the speculator need to buy many coins and can't get enough high profit compared to its risk. It can happen also, while there is a serious turnover, but in that case, our reserve also grows as our incomes from the commercial platform.
Probably there won't be more than 30-40% price increase of Maxit against USD.
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Think about, normally only a few percents of the debts are non-performing loans, which means they don't need a 3rd party.
On the other hand lending via smart contracts doesn't mean to eliminate jurisdiction. A credit agreement can contain all the required data from the debtor and clearly state who is who, so when there is a dispute they can go to the court. You can sign digitally contract outside the crypto world - using mainly the same algorithms - and many countries accept them. I heard for example that Georgia (the country not the US state) has blockchain based property register, so probably it is solvable to develop smart contract to sell a property or get mortgages.
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Now projects lend with crypto collateral. If last year when 1 Ether was 1000$, assume you get 500$ by 10% interest rate to your 1 Ether.
When the price has fallen 45% all your Ether was gone. Who was happy in this situation? I guess nobody. The whole crypto market shrank so covered lending project can't grow.
The interesting MaxiCredit project is that it tries to solve the problem of volatility. If it works, then there is the potential to convince much more people to use cryptocurrencies than now. Now only a few people know about projects like this, but twenty years ago nobody was a user interested in social media only the need was there.
Personally, I would borrow money if I don't have to take a high risk of price fluctuation.
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Actually, blockchain can help to get back money easier.
Of course today you can leave behind you the crypto world to try never pay back the money you borrowed, but also, in that case, it will be visible that you don't pay back your debt.
Blockchain as distributed ledger is perfect to backlist bad debtors. It can use even outside the cryptocurrencies.
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Lending covered by crypto collateral is only a little piece of lending. The mentioned white paper https://www.maxicreditcompany.com/whitepaper.pdf is interesting because it deals with uncovered lending and wants to build a credit score system. That is much more than available now. |
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If the ICO interest somebody then, open a new topic.
But here discuss about the concept, please.
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Don't care with the investing.
The interesting thing is that can it work, is the conception good?
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Does it matter what is the idea? I run our ICO https://www.maxicreditcompany.com/, and everything is about team, the form (STO, IEO, ICO) and much less about what we want to solve. |
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I think it depends not only on how good the developer team is - which is really important - but what problem want they solve. Like our project https://www.maxicreditcompany.com/ where we develop a peer-to-peer lending system to take a step forward to not only lending to hodlers. |
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