Introduction
Hey, Can you lend me 100 $? Of 'course, but Pay me with Interest. What is the point in lending if you do not earn? Banks and financial institutions work on the same principle of lending money to borrowers and accepting money from depositors. They are the gatekeepers of the centralised economy of the country. Facing risk, they run for the public money. And, leverage the power of centralisation to create an imbalance in the market, where rich have it an easy way to get a loan while other have the hardest.
Borrowing and Lending are part of our financial life. The peer to peer lending could not take off due to lack of trust between the engaging parties. Banks took the opportunity to create their centralised institutions, but now the time has come to break the cycle and create a new system of the lending marketplace. Cryptocurrency is beginning to bring the market to equality where everyone gets equal opportunity. Is there something we can do to create a better framework for lending?
Solution offered
GN Compass has brought the solution by creating a blockchain based peer to peer lending marketplace for cryptocurrency users across the world. To maintain the liquidity in the market, it offers crypto backed loans. Investors and borrowers are both going to benefit from the marketplace with the blockchain technology, which verifies and distributes the transaction on the Ethereum Network.
The GN Compass Credit System helps in the management of the credit rating of the different borrowers and account holders on the platform. It helps the investors to independently decide the potential and risk involved. The other unique capability offered to the investors is that they have the option of selling the loans in the marketplace.
ICO INFORMATION AND TEAM
GNCT Tokens are distributed to the public to create a strong support community. The ICO will distribute 20% of the 1,000,000,000, tokens. The Funds will be utilised for the development and marketing of the platform. One ETH is equal to the 5000 GNCT. The team believe that it will boost the cryptocurrency lending economy in the world.
Conclusion
The decentralisation of the platform provides an option to anyone to register on the platform and invest in the market. Compared to the traditional lending marketplace, the interest offered by the GN Compass is higher and secure. All the transaction are on the Ethereum Network which provides transparency in the marketplace. People will be benefitted from their crypto assets and GN Compass provides another way to earn your assets. I think that they are going to help in process of mainstream adoption of the cryptocurrency. The banks and traditional institutions will be forced to adopt the changes of the current market or perish.
Important links:
Website: https://www.gncompass.com/
Whitepaper: https://www.gncompass.com/wp-content/uploads/2018/01/GN-Compass-whitepaper.pdf
Authored By: Etheran
Btalk profile: https://bitcointalk.org/index.php?action=profile;u=1108165