#insightvite Vite for microcredit.

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    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?

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