Lending via smart contracts

[maxitdev]

Somebody tell me he did not believe that lending can work with cryptocurrency.
What do you think?

I think it can work. Why? Read this white paper:
https://www.maxicreditcompany.com/whitepaper.pdf

[passwordnow]

Everything including lending can work with cryptocurrencies but the bad thing is most of these lending projects are likely to be a scam. I haven't checked maxicredit but as for checking the tenure of the website, it looks new and one shouldn't be quick investing to this website.

Important Dates
Expires On 2020-01-10
Registered On 2019-01-10
Updated On 2019-01-10

[maxitdev]

Don't care with the investing.
The interesting thing is that can it work, is the conception good?

[maxitdev]

If the ICO interest somebody then, open a new topic.
But here discuss about the concept, please.

[r32godzilla]

Via smart contract? And what will happen if the borrower doesn´t have any money on his wallet? How smart contract then help you?

But cryptocurrency ledning platform like NEXO or MoneyToken have future - because they will lend you as much money as you have. So if you do not have money for paying the loans - you can´t borrow.

[Mrsparks]

Lending is definitely possible on smart contracts , we have projects already using smart contracts to issue out crypto backed loans. The  truth is the power of smart contracts are limitless and I think the blockchain community is yet to harness the power of smart contracts. In a couple of years from now, one will be amazed with the amount of applications and industries that will benefit from smart contracts.

[butka]

Somebody tell me he did not believe that lending can work with cryptocurrency.

Just visit the lending section of this forum, and you will be able to see how lending can work with crypto too. You just have to have a good escrow and to offer some collateral.

Smart contracts are often overrated. Using smart contract may sound like something sophisticated, while in reality they are not overly advanced (yet). Smart contracts are very similar to using escrow. The difference is the escrow is replaced by a piece of computer code that is executed automatically when certain conditions are met.

[fianaindriati]

Don't care with the investing.
The interesting thing is that can it work, is the conception good?

I think we need to be careful about the current situation. Because at the moment it doesn't allow us to do new things that we haven't tried fully. because as far as I know the new thing is certainly certainly guaranteeing our lives in the future.

[maxitdev]

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.

[LbtalkL]

Somebody tell me he did not believe that lending can work with cryptocurrency.
What do you think?

I think it can work. Why? Read this white paper:
https://www.maxicreditcompany.com/whitepaper.pdf

Lending already exist in cryptocurrency with crypto collateral I don't know if it is using smart contracts but I think it is especially on Ethereum blockchain, check it here https://nexo.io

[ashmodeus]

whatever system behind it , is that smart contracts or traditional concept or whatever.
in the end , Lending just a scam , for me , is better u put all your money to gambling table, than put it to lending investement,
if no money left, how they will pay you ?,

[coinbirds]

Of course it can be done by smart contracts but lending projects has some bad reputation due to scam projects connected to lending.
Investors need to regain trust in lending projects again.
Invested in ETHLend  (Lend) and can confirm it as a legit project.

[maxitdev]

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.

[TimeTeller]

Everything including lending can work with cryptocurrencies but the bad thing is most of these lending projects are likely to be a scam. I haven't checked maxicredit but as for checking the tenure of the website, it looks new and one shouldn't be quick investing to this website.

Important Dates
Expires On 2020-01-10
Registered On 2019-01-10
Updated On 2019-01-10

Last year, lending platforms were rampant. And most of them ended up in grave.
I believe there is some sort of loophole within this lending system why they keep on sprouting.
Are there users interested to use their services? Or they are just using the lending platform to get their easy prey?

[maxitdev]

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.

[mcTether]

Somebody tell me he did not believe that lending can work with cryptocurrency.
What do you think?

I think it can work. Why? Read this white paper:
https://www.maxicreditcompany.com/whitepaper.pdf

I don't have much confidence lending in cryptocurrency. How do you lend when there is no 3rd party that can settle your dispute if it ever occurs?

[maxitdev]

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.

[svb33]

I read the posts here and the metioned White paper, and they try answer all the few question, what was asked here.
I won't invest more than 1% of my money to any ICO, but I collected some coins in promotions like https://www.coinbase.com/join/5c3763b6bc9d990e8751b8af , https://etoro.tw/2GYVGhz wallet and https://ddex.io/referral?referralCode=U6JB so I will risk my "free" coins to invest in project like this Maxicredit.

[maxitdev]

Please discuss ICO and investing in https://bitcointalk.org/index.php?topic=5126527.new#new topic.
I started this topic to discuss the concept of such projects.

[Adunni6758]

There is almost no form of investment, lending inclusive that cannot exist on smart contract. There are projects that have successfully deployed their technology on smart contract, which is one of the benefits that is obtained therein. Although, you would need to check through every terms and conditions of lending on blockchain technology.