YouGive will improve a growing online lending market
Blockchain allows to create a system of decentralized lending. Now financial organizations can keep up with the times and develop new client bases
Big banks came to the Internet. Blockchain technology makes any financial organizations able to explore a new promising trend in business.
Today lending is an integral part of life in an advanced society. Standard of living is gradually growing, and along with it the demand for loans is growing. Lending is a crucial element in the formation of the modern economy.
In 2017, the total amount of loans issued in the US set a new record of $1.4 trillion, which is 34% higher than last year. At the same time, the total number of loans remains almost unchanged. People just began to take larger loans.
The total lending to large banks is growing, there is a trend of growth in demand.
This allows the top ten largest banks to establish a monopoly on loans to artificially inflate interest, and to manipulate the system of loans approval. Banks choose only very good borrowers, the failure rate reaches 33%.
Technology development will allow us to use the blockchain to create a decentralized credit institutions.
Such a system will be created by creates the YouGive project. Our platform will provide a number of advantages for the loans of the following format: simplified data processing system does not require a large number of staff. And as a result, lower interest rates — customers don’t need to pay for the work of Bank employees.
The future of lending is in the development of decentralized systems that are inaccessible to large banks. Blockchain allows to bring small credit organizations and pawnshops to the common market, providing them with access to a wider customer base. This system makes everyone equal in ability to attract new users by offering them lower interest rates and convenience of processing.
The YouGive ICO Pre-Sale starts this summer, and inconvenient traditional loans with a bunch of intermediaries will begin to leave in the past. Detailed information about the YouGive ICO you can find in our Telegram-chat
https://t.me/YouGiveChat.