An Analysis of P2P Cryptocurrency Loan Platforms – Crypto News Monitor, Crypto news from the worlds most reputable sources
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Gelios is designed spil a toneel which can enable loans via cryptocurrency by bringing lenders and borrowers together. Te essence, Gelios provides something called P2P lending.
Te order to provide better service to all participants on its podium, the Gelios team has done a thorough analysis of the P2P Cryptocurrency loan market. Ter doing so, they have found that there are three kinds of P2P cryptocurrency loan platforms:
- Classic P2P platforms that use cryptocurrency
- Tokenized microfinance organizations
- ICO P2P platforms
An Analysis of Existing and Failed P2P Cryptocurrency Loan Platforms
Nebeus , a fresh cryptocurrency banking startup, sells itself with the catchy slogan &ldquo,Become the Banker with Nebeus.&rdquo, Its team aims to do a number of interesting things: To kwestie a handelsbank card that can make both fiat and cryptocurrency payments, to create a streamlined verhoging for the exchange of cryptocurrencies, and to obtain an official banking license.
On the cryptoloan gevelbreedte, Nebeus completes user authentication using a united KYC proces. Applicants who have finished this proces are issued a loan by hand by an individual. Nebeus is selling a security token during its ICO, and aims to raise a massive 40 million dollars.
BTCJam wasgoed a service that ended operations earlier this year, following pressure from regulators and due to issues regarding the volatility of cryptocurrencies. Before facing those challenges, however, they managed to raise around Ten million dollars te funding via venture investment.
While the company has closed down, it did manage to prove certain aspects of the cryptocurrency loan concept. Loans were made and paid back te Bitcoin and the process did actually work largely spil planned.
BitBond is another company that is proving the concept by providing loan services te Bitcoin. They have bot able to secure a legal status within the European Union, having received a banking license from a German regulatory institution.
The loans suggested by Bitbond are at the uur only te BTC, and are focussed on the needs of puny businesses. The company has the capability to evaluate and accept or decline loan applications automatically, using information provided te the user&rsquo,s profile. The toneelpodium establishes a rating for the user based on their deeds.
BitLendingClub is another service that is no longer available, having closed ter 2018. This mostly had to do with pressure from Bulgarian regulators. Before closing down, the podium hosted loan transactions that totaled 8 million dollars ter cryptocurrency.
Humaniq is a fresh company that held its ICO te April, raising a total of Five million dollars. Their aim is to provide microloans via cryptocurrency to the third world. Their idea is that they can collect gegevens for scoring clients with a mobile application.
Micromoney is another company that aims to provide microloans to improve life ter under-developed countries. Recently, the company ended its ICO, reaching its soft-cap of Ten million dollars. They have already begun to punt microloans te Southeast Asia spil a decentralized credit lessenaar.
Salt Lending is an interesting podium that asks users to place collateral te order to receive a loan. This is an alternative to scoring borrowers ter terms of credit. The Salt verhoging ter essence operate likes a pawn shop, taking a certain amount of a digital asset, and returning it when the loan itself is returned.
Conclusions from the Market Analysis
Overall, it is demonstrable to the Gelios team that it is unlikely to make a fully decentralized P2P cryptocurrency loaning podium. This has to do with four key issues:
- A large number of exceptions te credit products
- The necessity for credit scores
- The need for quality KYC
- Clients attempting to work-around the scoring or KYC systems by making numerous accounts.
The Gelios Solution
Gelios is building a cryptocurrency loan system that operates spil a &ldquo,clean&rdquo, toneelpodium. This mean that it does NOT do scoring, KYC, or other evaluation of the clients. Thesis roles are taken up by participants on the verhoging. Verhoging participants include creditors, risk-analysts, collectors, webmasters, and KYC service providers.
Gelos&rsquo, &ldquo,clean&rdquo, toneel means that the participants that provide the best results will see the most success, and that successful strategies will eventually be taken up by all participants. Among P2P cryptoloan platforms, it seems that Gelios is the most likely to lead to true, successful innovation.
Gelios provides a &ldquo,white-label&rdquo, solution which makes it effortless for fucking partner organizations to verbinding up their business and webstek with the toneel. Gelios does not do the lending itself &ndash, it provides a toneel for lenders to get matched with borrowers. The same goes for risk-analysts, collectors, and webmasters. Te this way, Gelios is most certainly set to be the very first truly successful P2P cryptocurrency loan toneel
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This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of The Merkle. This is not investment, trading, or gambling advice. Always conduct your own independent research.