[ Concept Discussion ] - Borrowing/Lending Crypto

[Kai-N]

I've taken time to read the replies in this thread and have been studying and researching all the points raised.

In summary, there are three key issues that need to be solved, namely

1) Collateral
2) Preventing fly by night actors
3) A means to collect the funds + interest

After watching a talk by Andreas M. Antonopoulos where he briefly mentioned the concept i'd like to add two additional issues :-

4) Minimizing individual/institutional risk
5) A simple yet secure method of verifying a debtor/creditor's identity

Borrowing from existing analogue systems, i'm hoping to get down to trying to come up with solutions to all the above. I already have some idea of how to perhaps approach some of the issues, but for the moment these thoughts have not yet formed into ideas i can articulate properly and explain.

If anyone is interested in tackling this problem, i'd be most grateful for any assistance/ input you can provide.

One thing that i do see posing issues (just one of the thoughts rattling in my mind ) is if it is somehow possible to do this without users having to submit their personal data to some centralized entity. If that is solved, maybe we'll see something materialize and we can write a paper on it.

[sharkpc2000]

I don't don't respect thither are those genre of market-place. That disposition be market influence and that is not bunco. Anyways a boodle conceivably pament dividends calculating on the presentation you'll agglutinate.

[b3llsf1l3s]

Is there a coin that exists that does this, or at least any papers discussing how it could be carried out in a manner that minimizes or totally makes loss/fraud ? I've seen that crypto-currencies do not seem to have a proper means of paying back coins. Is there possibly ways to solve that fundamental issue, ie someone take a loan and runs off ?

it seems, that coins like that do not exist and neve wil be. Why ? because in other side, every coins and as long there's a demand and supply, its hard to give that coins reach the payback unless its really have a great potential in the future and already realize in real life. So far people that involved in crypto are just to gain every single profit they can get, no matter what happen.

[FLHippy]

Is there a coin that exists that does this, or at least any papers discussing how it could be carried out in a manner that minimizes or totally makes loss/fraud ? I've seen that crypto-currencies do not seem to have a proper means of paying back coins. Is there possibly ways to solve that fundamental issue, ie someone take a loan and runs off ?

There are many projects which offer lending platform. Some of examples are ETHLend, Fintrux or MoneyToken (its advisor is Roger Ver - the creator of Bitcoin Cash). On this platform you can lend or borrow and you will be always safe .

[Kai-N]

Hello

Since my initial concept discussion I have been working in the background to develop a platform and am now opening it to alpha testing. If you are interested, please visit www.blockworkz.co and register, your account will be credited dummy funds for you to try out.

After the alpha testing period, i will take the feedback and try to apply as much of it as possible then go on to beta testing. Hopefully a full functional release will be available for widespread use in a month or two.

Please do not deposit any funds, use the dummy funds. As additional precaution, i will take the coin wallets offline.

[defoman]

I've seen projects that offered to solve the lending problem, but not one of them got to release, most were just a Scam. In addition, it should be a centralized project, like Ripple. So I don't see any way to solve the problem you're talking about.

[Kai-N]

I've seen projects that offered to solve the lending problem, but not one of them got to release, most were just a Scam. In addition, it should be a centralized project, like Ripple. So I don't see any way to solve the problem you're talking about.

Hello

As you can see, there already is a "release", and there is no "scam" here as I clearly stated that interested parties are free to sign up and test the platform using dummy funds. If you'd like to see how the problem was indeed solved, feel free to sign up... it is free after all.

[Hotrod_88]

I think it would be difficult to see a stable and self sustaining lending project because the market itself is unstable. Better to use something similar to an insurance if you want to secure your money though it is also difficult to find a legit one that meets your requirements.

[wow.magic]

I think it would be difficult to see a stable and self sustaining lending project because the market itself is unstable. Better to use something similar to an insurance if you want to secure your money though it is also difficult to find a legit one that meets your requirements.

A lot of scams lately, eh? It's hard to trust anyone here in this industry because all first impressions of us are scammers.

[Eildosa]

In order to give a loan you need to know who they are issued to. And since crypto is anonymous, it will be very difficult. Therefore, the credit system will not be able to work properly in the field of crypto.

[Hotrod_88]

I think it would be difficult to see a stable and self sustaining lending project because the market itself is unstable. Better to use something similar to an insurance if you want to secure your money though it is also difficult to find a legit one that meets your requirements.

A lot of scams lately, eh? It's hard to trust anyone here in this industry because all first impressions of us are scammers.

Even though it's difficult to find the "best coin" that fits you well, it doesn't mean that you will never find it. To do so, one must indulge himself to the latest news about cryptocurrency and be open minded to new ideas and projects in the market. New ideas such as the upcoming exchanger of Bitrus might help you by having more options to add in your strategy to earn more and expand your business in this industry. Knowledge is the key to success in any career that one wants to pursue.