One of the greatest creations humanity ever witnessed in 2008 was the nascence of the Bitcoin; a digital currency built to operate on the blockchain technology. It was invented by Satoshi Nakamoto to serve as a digital asset that will replace fiat and function as a decentralized medium of exchange, without the need of a trusted authority or middleman like a bank or government agency.
The blockchain is an open, secure, distributed ledger that records transactions in blocks, between two parties in a verifiable and permanent manner. All records are interconnected using special cryptography. Each block is made up of a cryptographic hash of the previous block, transaction data and a time stamp. The blockchain is decentralized and secured by architecture and we are now witnessing its adoption in various sectors like education, manufacturing, finance, marketing, health, agriculture and even government to mention a few.
One distinctive feature of the blockchain is that it is decentralized and designed to resist any form of data modification. Therefore, it cannot be controlled or manipulated by an individual, organization or government.
The Blockchain makes it possible to transfer money from any part of the world without third party interference such as banks and other centralized financial institutions. It also eliminates unnecessary transaction fee charges which are often very expensive. Blockchain breaks trust barriers and offers seamless opportunity for executing transactions.
The success of the blockchain has created awareness and attracted public attention over the value and potential it carries if properly implemented in solving real world problems.
The Viaz platform is a blockchain financial hub, designed specially to bring together lenders and borrowers of both fiat and cryptocurrencies on the Viaz decentralized application. Viaz platform offers a leverage that allows lenders and borrowers to have a direct contact through the implementation of the Viaz Smart Contract.
The Viaz blockchain architecture can solve the challenge of having to present a collateral to collect loans and also ensuring such loans are paid as agreed. This will be achieved not withstanding national boundaries and international monetary transfer hiccups. Viaz will break distance barriers and bring the world closer while giving its users the power to take charge of their finances.
Borrowing from traditional banks can be a very tedious task full of slothful bureaucratic procedures. And after all the stress, the payment of the loan is designed to benefit the banks with little or no consideration for the individual taking the loan. The central banks are also not left out as they possess absolute monopoly of minting cash and they dictate the rules of the game to the commercial banks.
With the weight of the power in their hands they can reduce the value of money anyone is holding by simply printing more. The banks also charge exorbitant and sometimes unnecessary fees for services like transfers, even after people deposit their hard earned monies with them. This is unfair, unjust and highly unacceptable, hence; the need for a decentralized financial system that will displace all these problems within the global financial system.
Viaz intends to utilize its decentralized platform to mediate between borrowers and lenders and propagate the cryptocurrency lending space. Viaz is working on its betanet which will kick start before the introduction of it's token. This will be followed eventually by the mainnet launch, to offer a well designed, fully functional financial utility platform.
Tezos (XTZ) will be the Viaz ecosystem primary token and plans are under way to ensure its adoption in ICOs, just like the BTC and ETH are accepted. Users will be allowed to use their XTZ as collateral for borrowing cryptocurrencies so they can partipate in various ICOs. Fiat borrowing feature will be added too using smart contracts recorded on the Tezos blockchain public ledger.
Users will be able to personally manage their fiat and digital assets on a secure wallet after signing up on the Viaz platform. Users can send and receive assets on the wallet seamlessly without fear of network breach. Viaz platform also plans on issuing debit cards that can be accessed globally. There will also be a feature that allows users to block a debit card without the interference of a third party, especially in the case of loss or theft.
Mobile Apps specially designed for Viaz users on iOS and android will be provided for quick and super fast daily transactions.
Viaz will charge only 1% as service fee which is attached to the loan interest rate which will go into expansion and maintenance of the Viaz ecosystem.
Viaz will utilize a decentralized account identity (DAI). This will allow users to be in charge of an onchain unque identity especially where there is a loss or theft of private keys. It is a standard smart security contract. Users can regain access by going through a recovery process involving answering questions.
Viaz is truly here for the total financial emancipation of the public and I'll recommend everyone to join this revolutionary movement.
To be a part of the VIAZ project you can click the links below.
Web: https://viaz.io/
White paper: https://viaz.io/documents/Viaz-Whitepaper_EN.pdf
Telegram: https://t.me/ViazOfficialAnnouncements
Facebook: https://www.facebook.com/viazofficial
Twitter: https://twitter.com/ViazOfficial
Bounty0x username: Donrep09