Topic: [ANN] Happy Shark Week! Coinshark.io: P2P Loans Secured by Smart Property (Read 1026 times)

Hey, thanks for your question.  There is a major difference in what we're building and BTCJam. 

At BTCJam, as you said, your P2P loan is secured by a borrower's promise to pay back and BTCJam's platform and service.

At Coinshark, the P2P loans are secured by assets/property.  Borrowers will be coming to our platform to get a loan on a car or a house.  So the lenders have the added security of ownership shares in the actual physical asset.  On top of that, we are going to secure our properties with connected technology that can disable the asset.  So if the payments stop, the property is disabled/locked-down.

Check out Mike Hearn's article on smart property, he has nice breakdown of how smart properties and smart contracts should interact - and it's basically a model of what we'd like to accomplish, only we're going to try and add P2P lending to it as well. https://en.bitcoin.it/wiki/Smart_Property

Could you tell us more about your website and what isthe difference between CoinShark and other Peer to peer lending platforms like BTCJam , If we take BTCJam for example they do not really protect lenders and if you are scammed there is nothing you can really do about it . What does CoinShark does in case you get scammed

It’s Shark Week again! – & this year, it’s time for the sharks to take a bite out of P2P lending and Bitcoin!!

In celebration of Shark Week, we are pleased to announce the upcoming launch of Coinshark – the future of P2P lending for the new generation.

Our loans are made by lenders (the Sharks) direct to borrowers, based on the asset being secured and the borrower’s credentials.  Because our loans do not carry the traditional overheads and because we secure each and every asset using internet-of-things technology, we can bring innovative and lower cost loans to more people, while providing a better rate of return to the lender.

Coinshark as the facilitator, screens each borrower and secures their property for the purpose of lending.

As a lender, you would provide your funds in bitcoin and choose who you lend to.  You can review each borrower, the purpose of the loan and decide how much you want to lend that borrower.  Once a loan is fully funded, the funds are made available for the purchase of the asset and we at Coinshark secure the asset.  When the borrower makes loan payments to us in bitcoin, we proportionately split each loan payment across the lenders for that loan.  As a lender, you will receive a better return on your funds.

As a borrower, you gain access to lower cost loans, in exchange for providing the lender with better asset protection.  For certain types of assets, we also provide theft prevention, which may contribute to lowered insurance rates.

Coinshark’s industry-leading approach integrates the use of smart contracts recorded on the blockchain to control the use of assets secured by internet-of-things technology.  P2P lending is a multi-billion dollar industry and we are the first to integrate asset security with P2P lending.  Every aspect of our service is cryptographically secured; and protecting our clients’ data is our highest priority.

We plan to launch to the public later this year.  

For more information on Coinshark, information on how to invest in us, or to provide lending capital please contact Mike Langley at [email protected].  For general updates please subscribe to our mailing list at our site https://coinshark.io.

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