#insightvite Vite for microcredit.
icloud93 last edited by icloud93
In my opinion, one of the most popular cryptocurrency use cases is the issuance of loans for people who do not have access to banking infrastructure in many developing countries. And I was very pleased to read this news: https://ourcity.syrgov.net/2019/01/city-of-syracuse-announces-three-startups-selected-to-participate-in-ground-breaking-startup-in-residence-program
I think this is a very serious step and I wish the team to implement these plans. Vite has all the necessary qualities to develop the solution based on its own blockchain. I would like to highlight the advantages of microcredit based on blockchain technology:
- expensive licensing of the loan business is not required
- transparent credit rating of each borrower
- diversification of risks by issuing loans to one user by several lenders
- low start-up capital for investment
- high yield for the lender
- no bank account required
- the speed of obtaining a loan for the borrower
- % lower than common microcredit
Perhaps the use of cryptocurrency has disadvantages, but there are much more positive points. Therefore, I hope that in the near future, millions of people around the world can easily get loans and lend money. Transparent, reliable, profitable.
What do you think?