#insightvite - Syracuse Partnership

  • One of the Vite use cases that I am particularly excited about is the partnership with the city of Syracuse to address the issue of microloans for low-income members of the community. When you combine the transparency of the blockchain with the speed and ease of use of Vite, it makes for a great solution for a peer to peer microloan system. Members of the Vite team have already visited with Syracuse government officials to propose a blockchain based solution to this problem and, if their proposal is selected, vitelabs will spearhead the effort to develop the decentralized application that will help to address this problem.

    This is a huge opportunity for Vite to get their foot in the door in a well known US city and prove just how valuable their platform can be for real world use cases. The problem of P2P microloans is one that is not unique to Syracuse and if Vite is able to develop an effective solution, then it could eventually be expanded to many more cities across the US and the world. I am sure that Syracuse officials have been impressed by the capabilities of the Vite platform and that is why they chose to enter a partnership with them. Not only is this a great way for Vite to showcase their prowess and use cases to local governments, but it is also an exciting step for blockchain in general. Until blockchain projects are able to demonstrate and develop real world use cases for their platforms, blockchain will not achieve the mass adoption that all of us early adopters are striving for.

    Like any governmental processes, the selection of a solution to the microloan problem in Syracuse will take time. If Vite has fleshed out their developer tools and successfully been able to grow a robust developer community by the time the selection has been finalized, then Vitelabs can hand development of this project over to the community. Ideally, it would be residents of Syracuse who help take control of this project and develop a blockchain solution to assist their low-income neighbors. Regardless of who ultimately develops the solution, it will be a great benefit to the citizens of Syracuse while also shining the spotlight on just how useful Vite can actually be. I look forward to hearing more about what #insightvite has in the works and being a part of creating something cool!

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