University Project - Bitcoin Backed Loans

[crash12345]

I’m a University student in Canada working on a school project to create a business plan for a “mock” startup. My group has a couple of members big into Bitcoin so we decided to base our project on a business that makes fiat currency loans secured by Bitcoin as collateral.

One requirement of the project is to perform "market research", so I’m wondering if some of you could please complete our 5 question survey (2 minutes maximum). We will make the results available to anyone interested.

Any feedback on our survey would also be much appreciated.

Link to survey -> https://www.surveymonkey.com/r/C7FHPC9

Thanks!

[logfiles]

The last bit where you ask for the email address is really not necessary unless you are planning to start dpamming people's emails 
I cancalled thje survey because of that.

[crash12345]

The last bit where you ask for the email address is really not necessary unless you are planning to start dpamming people's emails 
I cancalled thje survey because of that.

Thank you for the feedback. I removed the last question asking for the email address. It was defiantly not my intention to spam anyone.

[antonleviathan]

You can check out ledn.io for some inspiration, we're a Canadian digital-asset financial services company and our first product is bitcoin-backed loans!
I happen to work there so let me know if you have any questions. I'll fill out your survey shortly.

[mk4]

I'm not the one to shill random coins/tokens here, but I suggest taking a look at MakerDAO[1], a somewhat decentralized sort of central bank. It's probably the closest to what you're planning on doing, just in a decentralized manner. Currently, they only accept ETH as loans, but they're planning on implementing multi-collateral features in the future, to be able to loan up bitcoin and other coins/tokens, in exchange of some DAI[2] stablecoin.

[1] https://makerdao.com/en/
[2] https://makerdao.com/en/dai/

[Svelto]

I have filled in the survey, all the best to your school project. Will you be publishing survey results for our reference?
You may want to look into Nexo, this company is providing crypto- backed loan and has a working product. I hope it will be helpful to you.

[crash12345]

You can check out ledn.io for some inspiration, we're a Canadian digital-asset financial services company and our first product is bitcoin-backed loans!
I happen to work there so let me know if you have any questions. I'll fill out your survey shortly.

I tired to PM you but recieved the following error message "User 'antonleviathan' has not chosen to allow messages from newbies. You should post in their relevant thread to remind them to enable this setting."

Will you be publishing survey results for our reference?

Yes, I will publish the survey in a new thread once our project is complete.

[Kakmakr]

Ok, survey completed.

I am just wondering how these services will deal with Bitcoin volatility. Imagine a scenario where you put say, 1 Bitcoin up for collateral at a price of say $4000 and then a massive dump happens and the price drops to $500. In a scenario like this, people will stop paying back the loan and would not care about losing the bitcoin that they put up as collateral for the loan. 

I saw people posting on Reddit that Bitcoin would never be able to replace Banks, because of this. 

[robelneo]

The last bit where you ask for the email address is really not necessary unless you are planning to start dpamming people's emails 
I cancalled thje survey because of that.

Thank you for the feedback. I removed the last question asking for the email address. It was defiantly not my intention to spam anyone.

Thanks for doing that I almost not participated because of the email issue, I am from Asia and it's not one of your preference so I just add it,
I think you should add Asia and Africa because there are many Asians and Africans here, that are willing to participate in your survey.