I welcome you all once again to this Wonderful CRYPTOCURRENCY NETWORK BLOG, as usual ! all of you know's, I always carry you along with any information about good crypto related projects through my blog.
INTRODUCTION:
In finance, a loan is the lending of money by one or more individuals, organizations, and/or other entities to other individuals, organizations etc.
Cryptocurrency has opened up a new world in the financial sector that was primarily owned by banks, namely the borrowing and lending of capital.
While peer-to-peer borrowing and lending has developed in recent years in the fiat currency space, it is only recently that companies have been finding methods of replicating these ideas in the cryptocurrency space. What follows is a short evaluation of several available options.
In reference with the motion of this article, Today! I will be presenting you a particular undisputed project called: LendLedger
WHAT IS #LendLedger?
The LendLedger is an open lending network that uses Blockchain technology to create a trustworthy platform where all information is recorded in a public ledger securely. It is a completely decentralized system and is not regulated by any central authority. Open APIs connects the parties in the network and allows them to share data, disburse loans, make payments through peer-to-peer mechanism. All data is encrypted and kept private and only shared during transactions between parties. Lenders connect to specialized Credit Evaluators or CEs who make loan decisions, amount, time, and terms of loans. Their decision is then submitted to the loan smart contract and the loan is disbursed to the borrower.
L-Data is a software tool on the ecosystem for data providers that record all transactions on the system and also process fiat transactions and L-Lend is the software tool for lenders. All the transactions are recorded in real-time.
ABOUT #LendLedger
LendLedger was created in Arth Labs, an Indian company and is the brainchild of Gautam Ivatury and Manish Khera, the co-founders of the company. The main vision was to change the present scenario of lending in the informal market and to tap the huge untapped resources which were earlier invisible through the ecosystem. It even aims to work in the rural and more undeserved sectors of the economy. The company has by far worked across 400 cities in India and aims to cover even more.
LendLedger replaces the centralized intermediary with an open and decentralized network. The LendLedger protocol allows anyone to join the network and enables trustworthy exchanges of data directly between parties. Participants maintain control of their own data and build a reputation on the network. This is possible through LendLedgers’s Open APIs and a unique digital asset (LOAN) that interacts with a smart contract on a blockchain. In addition, LendLedger will launch tailored software solutions so users can easily access the ecosystem. For more in-depth technical details, check back for our Technical Paper launching soon.
#LendLedger PROTOCOL
The LendLedger protocol is an Open API suite that enables the LendLedger network to function in an open yet secure way. The protocol defines how the LendLedger ecosystem functions: how data is sent between participants, how the smart contracts work, what gets recorded on the blockchain, etc. With Open APIs, the decentralized network can replace some of the intermediary functions formerly completed by a centralized system: controlling which participants can access the system, connecting parties directly to one another, and enabling fast and trustworthy loan decisions.
Control Access: Any participant can join LendLedger and collaborate, as long as they follow the standards established by the LendLedger protocol. This opens up the ecosystem to any company or person with regulatory permission to lend. The protocol also makes it easy for a wide range of Data Providers and other service providers to join, such as “identity validators” to validate the identity of Borrowers, or “credit evaluators” with algorithms that make credit decisions on Borrower data. The volume and variety of data and interactions is unlimited.
Connect Transactions Make Loan Decisions Rather than everyone connecting to a centralized intermediary, the LendLedger protocol allows parties to connect to each other to securely share data, disburse loans, or make repayments. Confidential data can f low freely but remain protected. All Borrower credit and KYC data is stored locally by the parties (Borrower, DP, Credit Evaluator), and is shared only during a specific transaction through an encrypted, peer-to-peer mechanism.
Make Loan Decisions The LendLedger protocol connects Lenders to specialized Credit Evaluators (CEs), who make loan decisions on their behalf. CEs analyze Borrower credit data and determine the amount, duration and terms of a loan the Lender is willing to offer. Their decision is submitted to the loan smart contract, which automatically disburses the loan to the Borrower.
GROWING FINANCIAL MARKETS WITH BLOCKCHAIN: The LendLedger Mission Trust and transparency to advance f inancial inclusion By unlocking troves of digital credit data on informal sector Borrowers, LendLedger will create a new profitable market for Lenders, DPs, and other service providers. The open network will enable financial growth in currently underserved areas as more Lenders get access to qualified Borrowers through the blockchain. LendLedger enables a more efficient, affordable, and inclusive lending market.
LendLedger SOFTWARE SOLUTIONS
All participants on LendLedger will require an interface to interact with the ecosystem. LendLedger will support participants in the initial stages by providing a suite of software services to enable a full plug-and-play solution.
Without any technical expertise, participants can immediately access the LendLedger network through the software. Borrowers, Lenders, and DPs will each have their own software with a user experience customized to their specific needs and role in the network.
L-Data: A software solution for DPs to monetize their data on LendLedger. It’s comprised of three main sections: data marketplace, data analytics, and technical/integration portal. L-Data can also process fiat transactions and record blockchain transactions and contracts. DPs will evaluate the software based on the demand for, and revenue potential of, their data, ease of technical integration, as well as analytics and insights that can aid their business.
L-Lend: A software solution for Lenders to originate loans through LendLedger. It’s comprised of three main sections: origination, loan management, and f inance/accounts. As part of this, it also processes fiat transactions, records blockchain transactions and contracts, and performs monitoring and compliance functions. Lenders will evaluate the software based on volume and freshness of leads, flexibility of products that can be created, and marketing/engagement analytics and capabilities.
#LendLedger FEATURES
Borrowers now have access to numerous numbers of lenders at competitive rates.
Lenders now can access a previously untapped market.Borrowers have full power to share and control their data securely.
The open APIs standardize the system by decentralizing it.
An ecosystem built on trust both from the borrowers and the lenders point of view.
A common platform connecting borrowers, lenders and data providers.
A public Blockchain ledger makes all the transactions transparent and secure.
Every transaction is recorded in Blockchain with unique identifier of the participant.
So it builds a reputation of the borrower, lender as well as DPs which is visible to all.
All the financial transactions are permanently recorded in the ledger.
All credit data of borrower is kept strictly confidential and is only visible to the interested parties.
The system is open to all.
The Loan Digital Asset is the loan Tokens of the system.
All the encrypted data is verified for its genuineness and validity.
It eliminates intermediaries and any central authority.
The system is inexpensive and cost of transactions is low as compared to centralized systems.
A very simple interface which anybody can use and does not require technological expertise.
An opportunity of growth for small business sectors.
EXPLANATION VIDEO
LendLedger ICO ANALYSIS
The ICO is a natural supplementary funding source to further accelerate the development and global adoption of the LendLedger PLATFORM
All payments and fees between LendLedger network participants are transacted using the LOANtoken. The digital asset interacts with smart contracts, which are neutral contracts on a blockchain that automatically administer the loan. With the power of a blockchain-based ecosystem, the LendLedger network’s loan smart contracts automatically disburse all loans and track repayment.
Token »» LOAN
Plateform »» Steller
Accept »» ETH
Restricted Areas »» U.S., UK and China
CONCLUSION:
Thanks to Blockchain Technology and LendLedger Platform for introducing better and incomparable ideas in the World Crypto
For more information about this project, please! follow the links bellow » » »
★WEBSITE: http://www.lendledger.io
★ANN TREAD: https://bitcointalk.org/index.php?topic=4424652.0
★TELEGRAM: https://t.me/lendledger
★TWITTER: https://mobile.twitter.com/LendLedger
★MEDIUM: https://medium.com/lendledger
★LINKEDIN: https://www.linkedin.com/in/givatury
★LendLedge OVERVIEW: http://lendledger.io/images/LendLedger-Overview-Optimized.pdf
★LendLedge TECHNICAL PAPER: http://lendledger.io/images/LendLedger_TechPaper.pdf?pdf=LendLedger%20Tech%20Paper
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••BITCOINTALK PROFILE LINK: https://bitcointalk.org/index.php?action=profile;u=1907552;sa=summary
STELLAR WALLET: GBQAHMWN3LHBFGN3CJ54XPEYRPK4TF55XJXSPTF7SRZECK7Y6IUNSTDB
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AUTHOR: Dprince2281