⚡️⚡️⚡️[ANN] [PRE-ICO] LendsBay | Credit ecosystem

[Darkoth89]

very helpful project. but how you control your lenders and the assurance that they are capable to lend

I think before one is deem fit to lend a vetting process is conducted, which will containing certain documents to prove ones net value and banking credibility will be considered as well.

The vetting process is very important and necessary.. Lendsbay being able to identify authentic documents from fake should be their main focus point.

Indeed will the vetting process be one of the main points. The team have to ensure that the data is correct. Trust is fundamental in the lending business.

i imagine it'll be a process that involves KYC on both ends, so the lender and the borrower will both have to be verified.  I don't think a credit check etc is necessary on the lenders part from my understanding of the project..

[CryptoBeefy]

They showed already some screenshots of the app in their telegram channel. Looks very good. I can not link to the pictures, but you can see for yourself: https://t.me/lendsbaychat

Thanks, I had missed that in their telegram chat. Just had a look and the user interface is looking very nice and clean, looks very easy to use, unfortunately I don't understand the native language so couldn't tell what most the wording was but most obvious enough from the screenshots what it would roughly say.

[Darkoth89]

They showed already some screenshots of the app in their telegram channel. Looks very good. I can not link to the pictures, but you can see for yourself: https://t.me/lendsbaychat

Thanks, I had missed that in their telegram chat. Just had a look and the user interface is looking very nice and clean, looks very easy to use, unfortunately I don't understand the native language so couldn't tell what most the wording was but most obvious enough from the screenshots what it would roughly say.

Oh nice, I missed that also! Need to keep an eye on their telegram more often if they're posting sneak peak update there haha. And gotta agree, can't wait to see the app when it's live.

[Ace44]

Lending can be your saving grace when you are in financial crises. But what happens when you are not able to secure  loan. This have been the problem of many families and small scale business. I wouldn't blame lenders because it is not easy to trust your money in someone else's hand. This project is going to create trust between lenders and borrowers.
We are just link other conventional lending platforns but two things makes us stands out. First borrowing would be more convenient and lending would be less risky.

Nice, i like the fact where you stated the reason why platforms such as this can help in the day to day affairs of our lives, is not an easy thing getting loans from corporate bodies and the procedures can go as far as months before such request can be granted, that's if they eventually listen to your plea, at the end dreams become memories

[phantam]

Lending can be your saving grace when you are in financial crises. But what happens when you are not able to secure  loan. This have been the problem of many families and small scale business. I wouldn't blame lenders because it is not easy to trust your money in someone else's hand. This project is going to create trust between lenders and borrowers.
We are just link other conventional lending platforns but two things makes us stands out. First borrowing would be more convenient and lending would be less risky.

Nice, i like the fact where you stated the reason why platforms such as this can help in the day to day affairs of our lives, is not an easy thing getting loans from corporate bodies and the procedures can go as far as months before such request can be granted, that's if they eventually listen to your plea, at the end dreams become memories

Yep which is why p2p lending has grown so much in the last few years but even more so I think Lendsbay will take p2p lending to a whole new level of decentralization and cutting out the middle man from past p2p lenders

[em777]

They showed already some screenshots of the app in their telegram channel. Looks very good. I can not link to the pictures, but you can see for yourself: https://t.me/lendsbaychat

Wow, they are really cool. I can't wait to see the platform fully functional. Its certainly going to make huge impact on human society

[Owillz]

Sudden jump in investment raised in last one day. 32k to 60k now. Seems like project is getting traction now and start picking up pace. Fingers crossed.

Seriously?? That's just 4k shy of a 100% increase. That's a great achievement in a short while. Guess thru is was a single investor cause I really would be surprised and amazed if they say its not a single investor

[phantam]

Sudden jump in investment raised in last one day. 32k to 60k now. Seems like project is getting traction now and start picking up pace. Fingers crossed.

Seriously?? That's just 4k shy of a 100% increase. That's a great achievement in a short while. Guess thru is was a single investor cause I really would be surprised and amazed if they say its not a single investor

Just gaining steam I think it will continue to ramp up over the next few days as people take note of the project and realize what it actually is, the projects trying to do something that really makes sense

[ibininja]

very helpful project. but how you control your lenders and the assurance that they are capable to lend

I think before one is deem fit to lend a vetting process is conducted, which will containing certain documents to prove ones net value and banking credibility will be considered as well.

The vetting process is very important and necessary.. Lendsbay being able to identify authentic documents from fake should be their main focus point.

I think in this process,  LendsBay need to verify both borrower and lender. Here lenders taking big risk than borrower, because it's lender who going to loose more (if borrower don't pay back).

Wait they will be doing the KYC process on their own? does this mean they have a system in place or they will be using a third party to execute? I would like to know more about this.

[gee777]

Sudden jump in investment raised in last one day. 32k to 60k now. Seems like project is getting traction now and start picking up pace. Fingers crossed.

Seriously?? That's just 4k shy of a 100% increase. That's a great achievement in a short while. Guess thru is was a single investor cause I really would be surprised and amazed if they say its not a single investor

I won't be supposed if the sale spike was caused by a single investor who was impressed with LendsBay project and wants to make an impact on the sales.

[nxnqauff]

Don’t think it’s a thing that they will issue a capture order if anything it will be sent to a collections agency for collection or the debt will be sold to a collections agency repayment of loans isn’t a criminal offense in most cases to my knowledge based on location

All this bottlenecks won't rise if they conduct good due diligence for each borrower signing up to the platform

Exactly. If somebody is borrowing money from a person who uses this platform, other person should also need to use the platform. Otherwise it won't work I think. May be I am wrong.

[em777]

Sudden jump in investment raised in last one day. 32k to 60k now. Seems like project is getting traction now and start picking up pace. Fingers crossed.

Seriously?? That's just 4k shy of a 100% increase. That's a great achievement in a short while. Guess thru is was a single investor cause I really would be surprised and amazed if they say its not a single investor

Just gaining steam I think it will continue to ramp up over the next few days as people take note of the project and realize what it actually is, the projects trying to do something that really makes sense

Yeah, I agree with you lendsbay is solving real problem it just a matter of publicity once a lot of people get to know about it I believe a lot of turn around  will ensue

[Ace44]

Sudden jump in investment raised in last one day. 32k to 60k now. Seems like project is getting traction now and start picking up pace. Fingers crossed.

Seriously?? That's just 4k shy of a 100% increase. That's a great achievement in a short while. Guess thru is was a single investor cause I really would be surprised and amazed if they say its not a single investor

Just gaining steam I think it will continue to ramp up over the next few days as people take note of the project and realize what it actually is, the projects trying to do something that really makes sense

I do agree with you, with the progression comes sudden rise in investment, probably the community has started seeing the needed impact that this project tends to offer to investors, its really an opportunity to get funds for our various needs once they judiciously follow their roadmap and get established into the minds of the community

[olamidey]

No matter how steady our financial income is, we might still need loans to service impending needs, loaning is an act from two people, the borrower, and the lender. Today may people find it difficult to access loans basically because of lack of trust between the two parties. The way to solve this problem is to find a means of creating transparency. LendsBay is going to a better channel where lenders and borrowers can enjoy smooth transaction.
As borrowers continue to use our platform, they will be rated, this rating will help improve the confidence of lenders. The ecosystem is going to be free from manipulation, and promotes trust.

[chan001]

Sudden jump in investment raised in last one day. 32k to 60k now. Seems like project is getting traction now and start picking up pace. Fingers crossed.

Seriously?? That's just 4k shy of a 100% increase. That's a great achievement in a short while. Guess thru is was a single investor cause I really would be surprised and amazed if they say its not a single investor

Just gaining steam I think it will continue to ramp up over the next few days as people take note of the project and realize what it actually is, the projects trying to do something that really makes sense

I do agree with you, with the progression comes sudden rise in investment, probably the community has started seeing the needed impact that this project tends to offer to investors, its really an opportunity to get funds for our various needs once they judiciously follow their roadmap and get established into the minds of the community

It's difficult to know if this is new investment or old one. I mean there is no Info about 230k tokens subscription which was there before this pre-sales starts. And KYC was pending for that 230k amount.

[RyCriptoC]

I have been looking at the roadmap this morning and it looks like Lendsbay will get a lot done in July. Firstly they will be releasing the beta app for Android/iOS. Then they will develop the legal component and establish the ratings and pricing a mechanism.

It’s a lot to get done, but if they do it all next month then they will be off to a flying start. I have seen a lot of other projects that are trying to do something similar with bringing credit risk to the Blockchain, but these guys look like the real deal, they are putting a lot of emphasis on the legal side of the business and on the underwriting.

It’s a very regulated business and I’m glad to see Lendsbay are taking this seriously with the legal work they are doing. Also the founder/COO Andrey Cheremkhin is a legal professional that has worked in the industry for over 10 years, he will be invaluable to the teams everyday operations.

It's a lot to get done in a short space of time but we don't now how much the team have already done in the background. I'm looking forward to July and seeing the beta

yeah, July is when we are all waiting for but I believe they have done so much we probably might not know time will eventually make everything clear

Looks like we will be looking at great things. I am especially waiting for the mobile app as I think it would really be of use with the closer circle. I mean it is easier lending to family and friends than strangers.

It's easier yes, but in my opinion,  it's easier getting (or taking) your money back from strangers than family and friends cause you won't get too emotional/sentimental with strangers as much as you would with friends.

What if your family and friends ain't using the Lendsbay platform as you, how do you lend to them? Moreover i think Lendsbay have a money back or money security plan for lending in their platform??

I am not sure, but I don't think LendsBay will provide money back/security option. That's normal bank do. But here LendsBay is not a bank but a platform where users can lend money with some legal documentation. Also they will keep track of loan repayment and every activity of each users and it will help Everyone to decide if he/she wants to lend money to particular user/person or not.

[ibininja]

Sudden jump in investment raised in last one day. 32k to 60k now. Seems like project is getting traction now and start picking up pace. Fingers crossed.

Seriously?? That's just 4k shy of a 100% increase. That's a great achievement in a short while. Guess thru is was a single investor cause I really would be surprised and amazed if they say its not a single investor

I won't be supposed if the sale spike was caused by a single investor who was impressed with LendsBay project and wants to make an impact on the sales.

I think the sale is still on the private phase. So it is expected that massive numbers would be put all at once. this would depend on how the talks are going with private investors.

[chan001]

Sudden jump in investment raised in last one day. 32k to 60k now. Seems like project is getting traction now and start picking up pace. Fingers crossed.

Seriously?? That's just 4k shy of a 100% increase. That's a great achievement in a short while. Guess thru is was a single investor cause I really would be surprised and amazed if they say its not a single investor

I won't be supposed if the sale spike was caused by a single investor who was impressed with LendsBay project and wants to make an impact on the sales.

I think the sale is still on the private phase. So it is expected that massive numbers would be put all at once. this would depend on how the talks are going with private investors.

It's almost two weeks since pre-sales started, but tokens sale is going bit slow than what I was expecting. I think LendsBay should do something about marketing. No social media bounty, no blog or video published by team.

[faulerwilli]

Sudden jump in investment raised in last one day. 32k to 60k now. Seems like project is getting traction now and start picking up pace. Fingers crossed.

Seriously?? That's just 4k shy of a 100% increase. That's a great achievement in a short while. Guess thru is was a single investor cause I really would be surprised and amazed if they say its not a single investor

I won't be supposed if the sale spike was caused by a single investor who was impressed with LendsBay project and wants to make an impact on the sales.

I think the sale is still on the private phase. So it is expected that massive numbers would be put all at once. this would depend on how the talks are going with private investors.

It's almost two weeks since pre-sales started, but tokens sale is going bit slow than what I was expecting. I think LendsBay should do something about marketing. No social media bounty, no blog or video published by team.

I've mentioned it before, many investors still need to do the KYC, so the Progress bar is not up to date.
I'm sure the counter will soon be over the softcap

[Owillz]

Sudden jump in investment raised in last one day. 32k to 60k now. Seems like project is getting traction now and start picking up pace. Fingers crossed.

Seriously?? That's just 4k shy of a 100% increase. That's a great achievement in a short while. Guess thru is was a single investor cause I really would be surprised and amazed if they say its not a single investor

Just gaining steam I think it will continue to ramp up over the next few days as people take note of the project and realize what it actually is, the projects trying to do something that really makes sense

Yeah, I agree with you lendsbay is solving real problem it just a matter of publicity once a lot of people get to know about it I believe a lot of turn around  will ensue

Publicity is mandatory for anything that wish to sell, cause if no one knows you and what u do, trust me, you can't sell anything. Your sale depends on the amount of knowledge the people know about you.