[ANN] 💥 LendLedger | Data-driven, Decentralized Lending 🌎 Powered by Stellar ⚡

[saimoooon]

How many of your target audience are familiar with the crypto lending?

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[poiseulle]

I suppose there will be a huge demand on this loans. The only issue is the difficulty to collect the pay back.

isn't it secured by smart contract. if cannot get pay back, who is going to use the loan platform

[Lendledger]

Where are you based? The examples from India are very vivid, are you from there?

Hi lanangejagat, thanks for your question. Yes - both of our co-founders are Indian and are currently running an Indian lending business called Happy Loans which has powered $9million+ of loans since its inception last year (http://happyness.net). LendLedger will take this good work and place it on a blockchain based network so it can expand the impact it's having in India onto the entire world!

[Lendledger]

LendLedger looks interesting. Although the concept is challenging, it has a chance to success. Many people from informal sector are related to crypto and will be willing to take a loan and pay it back later.

That is arguable. Not every shop owner is using mobile payment or any other electronic services. Crypto is still very new, few people use it on a daily basis.

In terms of your first issue - whilst some owners use cash, many many others accept mobile payments, or cards which go through credit swipe machines. We can utilize ALL this data to determine viability for a loan. In relation to your second concern - yes crypto certainly faces barriers to adoption, however with the LendLedger platform neither Lenders nor Borrowers have to deal in crypto. All loans are sent and received in fiat, the blockchain and the crypto used on it functions as 'plumbing' - it ensures everything is safe, smooth and transparent but is a behind the scenes operation.

[Lendledger]

You TG group seems growing, that's a great sign!

Thank you! We think so too!

[Lendledger]

How many of your target audience are familiar with the crypto lending?

Our target audience don't need to be familiar with crypto lending. That's part of the beauty of the LendLedger system. We recognize that there are still high barriers to adoption in terms of crypto as such on the LendLedger network both Lenders and Borrowers deal exclusively in fiat. We see the crypto as plumbing, the blockchain ensures transparency, safety and accountability but does not need to be seen or understood by those trying to make or receive loans.

[Lendledger]

Tokens here building on Stellar blockchain or Ethereum? Lending will be in your tokens or in other crypto-currencies and fiat?

Thanks for your question Frcat. Tokens are built on Stellar but Lenders and Borrowers will deal exclusively in fiat. We like to think of our tokens and blockchain base as part of the LendLedger plumbing - those making and receiving loans don't need to deal with it but it's what underlies the system and assures everything is seamless, safe and transparent.

[Lendledger]

I've seen info about airdrop in Telegram group, is it still on?

Yes!

[Lendledger]

how much time will it take for a borrower to get a loan?

Hi There, and thanks for the question!

Having a low-loan processing time was a big feature that we wanted to ensure with the LendLedger platform. This is actually why we decided to build on-top of Stellar, rather than Ethereum, for the extremely fast transaction times. With the available payment data from the Data Providers, accepting a Loan on LendLedger shouldn't take more than a few minutes. Everything is automated, so no actual humans are required to decide whether a loan should be given or not. After that, the remaining time needed is simply for the fiat to be bank-transferred.

[Lendledger]

I never thought there was such a gap! Trillion dollar is a world wide gap?

Yes! $2 trillion + https://www.weforum.org/agenda/2015/10/5-steps-to-closing-the-2-trillion-credit-gap/

[Lendledger]

What kind of informal borrowers you'll work with?

Hi grossmasterk great question. Informal borrowers with businesses who have the data necessary to show they could refinance loans. (e.g we could use a card swipe machine to show that borrowers are receiving sufficient income or mobile payment data to show they pay their bills on time)

[Lendledger]

How are you going to connect the agents in the system?

Hi Silly Dog!

Check out this article, and let me know if you need any more questions answered.

https://medium.com/lendledger/all-about-loantokens-430d7321c38f

[Lendledger]

That's all good. But banks need all those docs for a reason. They need to return their money.

We completely agree. But at LendLedger we believe that the data we extract is just as good as those traditional docs at telling if a borrower is reliable. There's a stringent approval process.We don't just give loans out to anyone!

[Lendledger]

You got to make sure there won't be any fraud. People need loans for everyone, but safety first.

Hi Zinger09 - we completely agree. Our use of blockchain, which is an immutable ledger, is one way we're planning to combat this. We have numerous checks and balances in place on the platform such as Identity Verifiers and Credit Evaluators.

[Lendledger]

Who's your target audience?

The 200 million+ Small, Medium Sized and Micro-Enterprises unable to get loans.

[Lendledger]

Can't understand what data has to be shared here between the lenders/borrowers.

Hi Ponchik34, so the data shared is the data which shows these borrowers are reliable. Credit card swipe data from their shops which show how many customers and how much revenue they bring in per week for example. And mobile payments which show that they pay their bills. All this type of information is taken into consideration for Lenders to decide whether to make a loan.

[Lendledger]

Do you plan to visit any conferences? It would help to meet funds representatives.

Yes! Of course - we just spoke at Blockchain expo Amsterdam https://medium.com/lendledger/lendledger-ceo-to-speak-at-blockchain-expo-amsterdam-june-27-28-2018-78d224aa97a6 and we have many more conference appearances in the pipeline. Follow us on Telegram https://t.me/lendledger or sign up in the "Join Us" section of our website http://lendledger.io to stay updated.

[Lendledger]

this issue is relevant only for India?

No! Globally there are 200 million + small, medium and micro-sized enterprises unable to get loans. https://www.weforum.org/agenda/2015/10/5-steps-to-closing-the-2-trillion-credit-gap/

[Lendledger]

What's your experience in the informal sector?

Hi Pasha.ru, great question. Our co-founder and CEO Gautam Ivatury has been an innovator in emerging market fintech since 2002,  with founding or CXO roles at SKS Microfinance, Gates Foundation-funded CGAP Technology Program, Signal Point Partners, Jipange Kusave, MeraDoctor, and ArthImpact. Similarly, our other co-founder Manish Khera was a founder or CEO at Fino PayTech, YTS, Airtel Payments Bank, and ArthImpact. As well as being a World Economic Forum Young Global Leader. We also have an amazing team and set of advisors and community experts who we believe really set us apart. For more info see our Team page http://www.lendledger.io/index.html#l2

[icofit]

are you gonna loan money to anyone who asks for it or is there gonna be a verification process too?