Topic: Credefi combines the best practices of DeFi and traditional finance - page 16. (Read 3287 times)

we tell more about the team in our publications and on the project website https://credefi.finance

The core idea is to create a positive feedback loop and mutual benefits between all stakeholders of the Credefi network.

Credefi addresses this topic differently:
• Option for peer-to-peer loans;
• Offers full spectrum of financial services;
• Passive lending;
• Peer-to-peer project-based lending;
• Trade Finance;
• Credefi is backed by a regulated EU financial institution, which provides endless
know-how and opportunities as well as legal protection for both lenders and
borrowers.

Meet the team: Ivo Grigorov, Co-Founder & CEO

We believe that every project needs to have an innovative idea, but it takes a strong team to bring that idea to reality. Credefi has both – a brilliant idea and a team of like-minded professionals who are building it to last. Today we would like to introduce to you our Co-Founder & CEO - Ivo Grigorov.

Ivo is an experienced Finance Specialist with a demonstrated history of working in the banking industry. He was extensively involved in the development and design of diverse financial instruments in both debt and equity segments. His skill set includes expertise in Market and Credit Risk, Capital Adequacy, and Management. As a strong banking and finance professional with a Master of Science (MSc) focused in Global Banking and Finance from European Business School (EBS) – London, he has a proven track record on successful implementation of financial products. Ivo has been in the blockchain and crypto market since early 2016 and a firm believer of its future applications.

☑️ If you have questions for Ivo, he will be more than happy to answer them in the project’s chat.

The project will develop according to the roadmap. We will continue to increase the number of users

In private sale, the price of 1 CREDI will be $0.07 and we will offer 10 million CREDI.
Actually, this is only for private sale after that we will also conduct public sale in which the price of the token will be $0.10 and we we will offer 110 million Credi.

Yes, Credefi is a project that aims to create a decentralized platform, which solves both conventional finance and DeFi real world problems. It utilizes the strengths of both domains in order to create a hybrid model that will give users real world applications and usability. Credefi was designed in a way, where each participant can lend and borrow money on a decentralized platform, where the contracted interest is determined by his own individual risk appetite. The project will revolutionise the way your money is utilised by providing full spectrum of services, creating hybrid approach between DeFi and traditional banking. The platform will connect the willing parties not only in the form of peer-to-peer lending and borrowing, as many of our competitors already do, but also allow to invest in whole credit portfolios, and provide trade finance services, directly from your own personal wallet.

You can also read more about our project in whitepaper: https://credefi.finance/documents/wp.pdf

Credefi at Bitcointalk

If you’re looking for the best place to discuss cryptocurrencies, Bitcointalk becomes the obvious number one choice — it’s the oldest and biggest internet forum about the blockchain technology and cryptocurrencies as a whole. The website launched in 2009 when Bitcoin was worth just about a fraction of a cent.

Originally, Bitcointalk was created by Satoshi Nakamoto – the creator of Bitcoin, who may or may not be a person or a group of people whose identity has remained in the shadows ever since. Prior to creating Bitcointalk, Satoshi would use SourceForge to discuss his creation. Unfortunately, the logs of those discussions are gone now. His original Bitcointalk profile is still available – last seen online 13 December 2010.

According to stats, there are 3.2 million registered users on the forum who have written over 56.6 million posts in total. Since its creation, Bitcointalk has had a few billion pageviews. An average of 500 new users sign up every day with the ratio of men to women at 4:1.  Bitcointalk.org was built with SMF – an open-source software pack. Its design and functionality haven’t really changed since the day it launched. The “Announcements (Altcoins)” subforum is one of the most popular on the entire website, followed by “Bitcoin discussion” and “Altcoin discussion”.

✅ Our project has decided to start a thread on that subforum – we invite you to visit the official Credefi project thread https://bitcointalksearch.org/topic/credefi-combines-the-best-practices-of-defi-and-traditional-finance-5330290

We will be glad to see you among the visitors of our Bitcointalk thread where you can share your opinions and give feedback!

Benzinga About Credefi

We would like to share a review of our project by Benzinga! If you wanted to learn more about our unique approach to lending in DeFi — follow the link below:
https://www.benzinga.com/markets/cryptocurrency/21/04/20601969/new-defi-lending-project-credefi-offers-a-unique-approach-to-lending-and-investing

👏🏻 We are happy to share an article from Cointelegraph that conveys our opinion: https://cointelegraph.com/news/defi-s-critical-missing-piece-credit-scores

We have been working hard on choosing the most objective and fair criteria. We would be excited if you read our article where we laid out what we’ve achieved so far.

Credefi’s answer to the pointed market inefficiency

It is true that the lack of knowledge and information for the borrowers in the Defi segment leads to the necessity of over-collateralisation, however the proposed solution to the problem in the article is far away from actual implementation. Although on-chain credit scores are a possibility in the far future, today they are but just a dream.Moreover, there will be no real proof that credit scores computed off-chain will be the result of robustcredit risk modelling and sound quantitative risk management practices.

The use of over-collateralization in the beginning of any project is the most basic form of risk management when there is no source of a trustable measure of creditworthiness. Therefore, if we consider a P2P lending project, the main issue becomes how to create a credit risk assessment framework (and as a consequence credit models and scores) that will serve two main purposes:

- first to provide the lender with quantification of credit risk that can be trusted and
- second to show the borrower that he has been assessed objectively by unbiased statistical methods.

These two elements will provide the necessary anchoring to the negotiation between the lender and the borrower. They could obviously reach an agreement for the loan at a different price level. They could bargain and speculate, but at the end of the day, theme asure of a fair credit risk score (and corresponding risk premium) would be the assessment of the majority of market participants. As long as the offer meets the demand, it signals good efficiency of a risk-based pricing agreed by the market.

The introduction of viable credit risk scores would thus make it possible for real economy businesses with potential to be financed at fair prices in the DeFi space and not to be ripped off by crypto market enthusiasts seeking to ride the next bull market and get an abnormal profit.

In summary, risk scores need to be trustworthy, robust and based on proven risk management practices. At Credefi we have designed a bridge between the current Defi marketplace and the future by merging the traditional risk management tools with the decentralised decision making. Our framework relies on sound technical infrastructure able to handle big data computations and real time risk scoring, and proven risk management practices Both will be continuously applied over the growing lending activity on the platform to arrive at a risk-based pricing that will be representative for all markets we operate in.

The credit score system implemented on the platform applies both quantitative and qualitative criteria.

Qualitative criteria:
- Know your customer (KYC)
- Professional experience
- Age of the borrower
- Reputation and management’s expertise
- Credit history and liabilities in public registries
- Proof of ownership and right to representation

Quantitative criteria:
- Credit Policy Rules. Hard credit criteria that set exposure thresholds and minimum levels for specific financial ratios based on the credit product type and borrower’s segment
- Application Scorecards. Statistically developed based on our historical credit portfolio

The combination of the criteria above allows for the application of a model that provides to the lender a statistically accurate probability of successful repayment of the loan they choose to finance. Through the collection of historical data on the credit deals done on the platform the models are adapted,statistically validated over time and refined with the increasing amount of data in order to produce risk-based pricing that will be accepted by the market as fair and objective. Only with this approach we can expect to apply the automated truly decentralized lending in the future. The collection and management of data is the only means by which the model can evolve and enable true decentralized decision making in the future.

What is blockchain and why is this technology so important?

The idea at the core of blockchain has been around since 1991, but it was only after 2009 that the technology got proper recognition, when Bitcoin was launched by the mysterious person (or even a group) called Satoshi Nakamoto. The true identity of Satoshi hasn’t been found until this day, but his technological innovation has succeeded in making the world reconsider the way we create and use money.

BTC transactions are peer-to-peer, which means that money flows directly from one user to another, without involving authority such as banks, regulators, or governments, etc.
This is as transparent and safe as it gets — all transactions are traceable, yet can’t be regulated by authorities.

This technology ensures maximum transparency, reliability and security of transactions. Blockchain can increase efficiency and security across a wide range of industries and businesses (financial sector, charity, supply chains, healthcare, etc).

Blockchain-based projects pop up every day! This is exactly the technology we are leveraging to advance the financial market and create a unique product that will improve millions of lives with technology and new tools for securing income.

What is Credefi?

💢 Credefi is a project that aims to create a decentralized platform, which solves both conventional finance and DeFi real world problems. Our project serves as somewhat of a bridge between the world of DeFi and that of traditional finance, taking the best of both and combining it in one incredibly convenient and user friendly product!

💢 Credefi was designed in a way, where each participant can lend and borrow money on a decentralized platform, where the contracted interest is determined by his own individual risk appetite. Users will have the ability to not only take out and provide loans, but also invest in credit portfolios, increasing their potential earnings!

💢 In addition, Credefi will provide the means as well as new opportunities to make informed investment choices in order to bring a high rate of return, while helping those in need, but neglected by banks. Credefi has structured its native platform CREDI token to be both governance and reward generating token. Its holders will be able to suggest and vote on decisions related to the development and functionality of the platform, but will also receive rewards and benefits from utilising it on the platform.

➡️ Visit our website to learn more https://credefi.finance

The World of the Traditional Credit Industry Can Leverage Blockchain Through Credefi

📝 Friends, another day, another great news! IHODL, an international media outlet, has published an article about our project!

➡️ Click the link to  read the full article and learn more:
https://ihodl.com/analytics/2021-04-12/world-traditional-credit-industry-can-leverage-blockchain-through-credefi

Let’s talk About DeFi?

In today’s post we would like to remind you that Credefi is a DeFi project, which means that to get the most benefit, you need to know more about DeFi!

DeFi stands for Decentralized Finance. Decentralization is a process of distributing the power among all the participants of a system, without a central governing body. Today, the majority of traditional financial and state systems are centralized, and this approach is plagued with flaws. The main issue is that they have points of failure: a security breach or a central server/facility malfunction negatively affects the rest of the system.

Originally, cryptocurrencies were developed as a decentralized network that has no single point of failure, which makes it democratic, more stable and efficient compared with regular money.

The technology behind decentralization in Bitcoin and most other cryptocurrencies is called blockchain. Blockchain gives every user the ability to serve as a node that checks the validity of transactions.

💡 What do users get from decentralization? Here are a few key advantages that users get from decentralized systems:

🔸 No need to trust a central authority that might be incompetent, vulnerable to attacks, or even have ill intentions.

🔸 Less censorship. Governments often restrict their citizens’ access to various websites and social media. Censoring traffic in a peer-to-peer network is much more difficult, because every package can be sent to every other node on the network, and they will relay this data further.

🔸 Most of the applications on the network are open source. Anyone can copy some or all of the code, and create their own applications with it. The more decentralized products come out, the more advantages and opportunities open up for the network users.

🔸 Proper economic incentives. Users who support the network get rewarded for it financially. The more support they provide, the more they are rewarded.

Of course, decentralized networks have their downsides too: they are usually slower to develop, have lower adoption rate, might be more expensive or have lower efficiency at the time of launch. However, most users agree that the end result is worth the effort.

We are happy to welcome you on the Credefi social media page!

You may think the only thing we are going to talk about in our posts is our project’s upcoming public sale, but that isn’t the case at all.

🚀 Credefi  offers cutting-edge financial solutions. This field of innovative technology is now changing the very world around us, and we are going to be covering this topic on our social media.

☑️ We will tell you about what the blockchain technology is and how it will help make our project as transparent and fair as possible; what smart contracts are, and how this technology benefits everybody, and, finally, what DeFi is and why this technology has become so popular in the past few years, so much so it keeps attracting more followers each day.

☑️ We will also talk about Credefi and why you should take a look at our project. In fact, the answer is on the surface: Credefi has been built using cutting edge technology that allows making modern financial tools more accessible. 

☑️ We use blockchain technology to make sure the project is fully transparent and reliable. We will further elaborate on that in the future.

👍 Stay with us! Lots of interesting things ahead!