Topic: Lending via smart contracts (Read 325 times)
Thank you. That sounds good. I will first visit your site and read what you send me.
Now smart contract uses oracles to get data from the real world, like current time.
But it is possible to invent a blockchain which can do this. Maybe it exists already.
Does anyone know about such a project?
But it is possible to invent a blockchain which can do this. Maybe it exists already.
Does anyone know about such a project?
Hello,
Yes - that blockchain exists already - check out æternity
æternity is a scalable smart contract platform that has state channels and oracles integrated on a protocol level (layer 1).
You can find some more details about oracles in general and which projects use them HERE.
Let us know if you need more info,
The AE Team
Somebody tell me he did not believe that lending can work with cryptocurrency.
What do you think?
I think it can work. Why? Read this white paper:
https://www.maxicreditcompany.com/whitepaper.pdf
I have thought about building a platform that enables lending via smart contract but there will be a lot of things to consider which I haven't been able to do yet, one of it is that what will one use as collateral since the loan will be on the blockchain.What do you think?
I think it can work. Why? Read this white paper:
https://www.maxicreditcompany.com/whitepaper.pdf
Let's say for example you are giving tokens on exchange as loans, how would you be able to trace the person who collected the loan if they refuse to pay, or will there be a way to reverse the coin back to its original wallet, if so then the purpose of the blockchain have been annulled because the blockchain was built to be decentralized.
The easiest lending can be done through automated collateral. You have a coin that you don't want to convert to fiat or to another altcoin but you want to invest in a project that you are sure will bring you profit. You use the collateral to get an automated loan that will give ownership of the collateral to the lender after a certain amount of time.
Think about, lending in a traditional way contains many types of uncovered loans - credit card, personal and consumer loans. Where the important thing is to predict that the potential debtor will or won't pay back the loan.
In blockchain where every transaction is visible, it is much easier to predict who will pay and who won't. Also, a blockchain can register credit score, which is built upon previous credit history - if you build your credit score many years long, you won't it ruin directly.
Blockchain also makes it difficult to hide for bad debtors.
I know many things mentioned in this white paper https://www.maxicreditcompany.com/whitepaper.pdf will be available only in the next years, but the whole blockchain, smart contract technology is about the future, not about the 0,1% who use it today.
If you are really interested in lending via smart contract send me a private message.
In blockchain where every transaction is visible, it is much easier to predict who will pay and who won't. Also, a blockchain can register credit score, which is built upon previous credit history - if you build your credit score many years long, you won't it ruin directly.
Blockchain also makes it difficult to hide for bad debtors.
I know many things mentioned in this white paper https://www.maxicreditcompany.com/whitepaper.pdf will be available only in the next years, but the whole blockchain, smart contract technology is about the future, not about the 0,1% who use it today.
If you are really interested in lending via smart contract send me a private message.
Somebody tell me he did not believe that lending can work with cryptocurrency.
What do you think?
I think it can work. Why? Read this white paper:
https://www.maxicreditcompany.com/whitepaper.pdf
I have thought about building a platform that enables lending via smart contract but there will be a lot of things to consider which I haven't been able to do yet, one of it is that what will one use as collateral since the loan will be on the blockchain.What do you think?
I think it can work. Why? Read this white paper:
https://www.maxicreditcompany.com/whitepaper.pdf
Let's say for example you are giving tokens on exchange as loans, how would you be able to trace the person who collected the loan if they refuse to pay, or will there be a way to reverse the coin back to its original wallet, if so then the purpose of the blockchain have been annulled because the blockchain was built to be decentralized.
Now smart contract uses oracles to get data from the real world, like current time.
But it is possible to invent a blockchain which can do this. Maybe it exists already.
Does anyone know about such a project?
But it is possible to invent a blockchain which can do this. Maybe it exists already.
Does anyone know about such a project?
Traditionally, smart contracts involved the platform Ethereum and he is the leader in this. But now there are many other projects that also use it.
Smart contracts for lending how possible is that? I heard the smart contracts on the ethereum are not truly smart because they do not truly integrate with the real-life environment and need to be triggered internally. If this is true then i think smart contract will not be a good fit for lending
There are also others like Fintrux. But both Debitum and Fintrux target small companies.
The interesting in MaxiCredit - https://www.maxicreditcompany.com - is that it is about a wider range of lending. Even personal loans.
The interesting in MaxiCredit - https://www.maxicreditcompany.com - is that it is about a wider range of lending. Even personal loans.
That's because he did not understand how crypto works, and how smart contract works.
If we will browse the projects in the market, you can find a lot of lending business and they are using the blockchain for that.
This one is a lending platform - https://coinmarketcap.com/currencies/debitum-network/
If we will browse the projects in the market, you can find a lot of lending business and they are using the blockchain for that.
This one is a lending platform - https://coinmarketcap.com/currencies/debitum-network/
Everything including lending can work with cryptocurrencies but the bad thing is most of these lending projects are likely to be a scam. I haven't checked maxicredit but as for checking the tenure of the website, it looks new and one shouldn't be quick investing to this website.
Quote from: https://who.is/whois/maxicreditcompany.com
Important Dates
Expires On 2020-01-10
Registered On 2019-01-10
Updated On 2019-01-10
Expires On 2020-01-10
Registered On 2019-01-10
Updated On 2019-01-10
Last year, lending platforms were rampant. And most of them ended up in grave.
I believe there is some sort of loophole within this lending system why they keep on sprouting.
Are there users interested to use their services? Or they are just using the lending platform to get their easy prey?
First the second question:
Theoretically yes, it can worth 1000 times more a year later. But the money supply is continuously increasing so there is only an extremely minimal chance that will happen.
As of a 40% gain need an 18-day continuously increasing. In a speculative way, it isn't profitable, because of the speculator need to buy many coins and can't get enough high profit compared to its risk. It can happen also, while there is a serious turnover, but in that case, our reserve also grows as our incomes from the commercial platform.
Probably there won't be more than 30-40% price increase of Maxit against USD.
Theoretically yes, it can worth 1000 times more a year later. But the money supply is continuously increasing so there is only an extremely minimal chance that will happen.
As of a 40% gain need an 18-day continuously increasing. In a speculative way, it isn't profitable, because of the speculator need to buy many coins and can't get enough high profit compared to its risk. It can happen also, while there is a serious turnover, but in that case, our reserve also grows as our incomes from the commercial platform.
Probably there won't be more than 30-40% price increase of Maxit against USD.
there is an interesting part in your WP.
You says that you will create a new cryptocurrency Maxit, and its price can't change more than +2 or -2%.
I understand that you will have reserves. But what if the price go up with 40%? Than you will have to have more reserve to achieve price stability. Or how want you achieve price stability?
And if Maxit can gain every day 2%, that means it can worth 1000 times more a year later?
You says that you will create a new cryptocurrency Maxit, and its price can't change more than +2 or -2%.
I understand that you will have reserves. But what if the price go up with 40%? Than you will have to have more reserve to achieve price stability. Or how want you achieve price stability?
And if Maxit can gain every day 2%, that means it can worth 1000 times more a year later?
There is almost no form of investment, lending inclusive that cannot exist on smart contract. There are projects that have successfully deployed their technology on smart contract, which is one of the benefits that is obtained therein. Although, you would need to check through every terms and conditions of lending on blockchain technology.
Please discuss ICO and investing in https://bitcointalk.org/index.php?topic=5126527.new#new topic.
I started this topic to discuss the concept of such projects.
I started this topic to discuss the concept of such projects.
I read the posts here and the metioned White paper, and they try answer all the few question, what was asked here.
I won't invest more than 1% of my money to any ICO, but I collected some coins in promotions like https://www.coinbase.com/join/5c3763b6bc9d990e8751b8af , https://etoro.tw/2GYVGhz wallet and https://ddex.io/referral?referralCode=U6JB so I will risk my "free" coins to invest in project like this Maxicredit.
I won't invest more than 1% of my money to any ICO, but I collected some coins in promotions like https://www.coinbase.com/join/5c3763b6bc9d990e8751b8af , https://etoro.tw/2GYVGhz wallet and https://ddex.io/referral?referralCode=U6JB so I will risk my "free" coins to invest in project like this Maxicredit.
Think about, normally only a few percents of the debts are non-performing loans, which means they don't need a 3rd party.
On the other hand lending via smart contracts doesn't mean to eliminate jurisdiction. A credit agreement can contain all the required data from the debtor and clearly state who is who, so when there is a dispute they can go to the court. You can sign digitally contract outside the crypto world - using mainly the same algorithms - and many countries accept them. I heard for example that Georgia (the country not the US state) has blockchain based property register, so probably it is solvable to develop smart contract to sell a property or get mortgages.
On the other hand lending via smart contracts doesn't mean to eliminate jurisdiction. A credit agreement can contain all the required data from the debtor and clearly state who is who, so when there is a dispute they can go to the court. You can sign digitally contract outside the crypto world - using mainly the same algorithms - and many countries accept them. I heard for example that Georgia (the country not the US state) has blockchain based property register, so probably it is solvable to develop smart contract to sell a property or get mortgages.
Somebody tell me he did not believe that lending can work with cryptocurrency.
What do you think?
I think it can work. Why? Read this white paper:
https://www.maxicreditcompany.com/whitepaper.pdf
I don't have much confidence lending in cryptocurrency. How do you lend when there is no 3rd party that can settle your dispute if it ever occurs? What do you think?
I think it can work. Why? Read this white paper:
https://www.maxicreditcompany.com/whitepaper.pdf
Now projects lend with crypto collateral. If last year when 1 Ether was 1000$, assume you get 500$ by 10% interest rate to your 1 Ether.
When the price has fallen 45% all your Ether was gone. Who was happy in this situation? I guess nobody. The whole crypto market shrank so covered lending project can't grow.
The interesting MaxiCredit project is that it tries to solve the problem of volatility. If it works, then there is the potential to convince much more people to use cryptocurrencies than now. Now only a few people know about projects like this, but twenty years ago nobody was a user interested in social media only the need was there.
Personally, I would borrow money if I don't have to take a high risk of price fluctuation.
When the price has fallen 45% all your Ether was gone. Who was happy in this situation? I guess nobody. The whole crypto market shrank so covered lending project can't grow.
The interesting MaxiCredit project is that it tries to solve the problem of volatility. If it works, then there is the potential to convince much more people to use cryptocurrencies than now. Now only a few people know about projects like this, but twenty years ago nobody was a user interested in social media only the need was there.
Personally, I would borrow money if I don't have to take a high risk of price fluctuation.
Everything including lending can work with cryptocurrencies but the bad thing is most of these lending projects are likely to be a scam. I haven't checked maxicredit but as for checking the tenure of the website, it looks new and one shouldn't be quick investing to this website.
Quote from: https://who.is/whois/maxicreditcompany.com
Important Dates
Expires On 2020-01-10
Registered On 2019-01-10
Updated On 2019-01-10
Expires On 2020-01-10
Registered On 2019-01-10
Updated On 2019-01-10
Last year, lending platforms were rampant. And most of them ended up in grave.
I believe there is some sort of loophole within this lending system why they keep on sprouting.
Are there users interested to use their services? Or they are just using the lending platform to get their easy prey?
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