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?