The blockchain technology that empowers cryptocurrencies like Bitcoin and Ethereum and peer-to-peer lending is a natural fit that might help overcome some of the inherent problems with many P2P lending platforms today.
Many experts predict that the blockchain technology will prove itself as a groundbreaking innovation leading to a new economic system often referred to as the blockchain economy. In this new economic system, rules defined by smart contracts will make sure that agreed-upon transactions are enforced autonomously. Therefore, peer-to-peer lending in many ways seems like the perfect use case for the blockchain technology as it potentially enables lending platforms to establish a business model much less dependent on trust relations between lenders and borrowers than what we see today.
To existing P2P lending platforms, banks, and credit unions, however, blockchain technology poses a serious threat if they are not able to innovate and utilize the possibilities contained in the technology. Even though blockchain is still a nascent technology, many new platforms operating within crypto lending are already taking substantial market share and make interesting showcases for how crypto lending can be used to provide blockchain loans.
Traditional bank accounts offer a meager interest rate. $10,000 in a bank account for a year might generate enough interest to buy two cappuccinos and a bagel with cream cheese. It’s no wonder that investors are looking for an alternative. That alternative is happening in crypto, and the returns can be really good. The rates are changing all the time, but on average it’s possible to earn 6 to 8% interest per year. That same $10,000 deposited with a crypto lending platform? After a year, you may be able to buy a new phone instead of an insubstantial breakfast. Crypto lending platforms work both ways, as they also enable borrowers to deposit crypto and then take out a loan. This is called a collateralized or secured loan, because there is an asset securing it. These terms are not unique to crypto. A mortgage is also a secured loan, as the value of the house secures the loan. A credit card is an unsecured loan, since the credit is not secured by any asset.
The Cobalt lend platform aims to bring together borrowers into a fair democratic voting community in order to get all size loans from micro loans to six-figure loans all without the over sight of a bank, completely governed by the community and therefor the community directly profits from its’ involvement. These loans will be available to the community through their mobile phones, on a collateralize tier structure. The current credit system is fundamentally flawed and the Cobalt platform corrects this by facilitating a community voted and approved lending program on the blockchain that is completely based off the merits of the project, never seeing race, color, or individuals background. The only criteria considered for the loans will be merit of project and collateral provided by the borrower, then the community will be left to decide on funding the proposal or rejecting it.
The Cobalt Lend Platform is building associations with a significant blockchain designer who is at present giving retail location terminals all through Asia. We will probably help encourage independent ventures in taking crypto installments close by Master Card and Visa without breaking a sweat, by bringing these cross breed crypto/fiat Point of Sale terminals to the US.
The Cobalt Lend Platform is building a total environment, including opening up modules to designers, for example, transformation highlights APIs, installment and login approval APIs, working climate of web applications, and opening up of movement focus framework to additionally extend certifiable use cases for the two engineers and Cobalt Lend.
The Cobalt lending stage expects to unite borrowers into a reasonable vote based democratic network to get all size credits from miniature advances to six-figure advances all without the over sight of a bank, totally represented by the network and therefor the network straightforwardly benefits from its association. These credits will be accessible to the network through their cell phones, on a collateralize level structure.
What Does Cobalt Lend bring to the blockchain ecosystem?
- BORROWING & LENDING
- Being able to lend excess capital to other borrowers within the ecosystem in times of surplus, in order to benefit from interest on the loan. Borrowing capital faster and easier then with traditional lending institutions all from you mobile phone.
- COBALT LEND SOFTWARE SUITE
- The Cobalt Lend proprietary software enables cryptocurrency and credit card processing all together in one mobile Dapp – NO extra costly hardware needed. See more about how the Cobalt Lend Software Suite works here.
- OUR FOCUS IS SMALL BUSINESSES
- Cobalt Lend aims to bring together a blended community in order to facilitate borrowing and lending within the same community. This allows the community to benefit instead of the banks.
- COMMUNITY VOTED LENDING
- The current credit system is fundamentally flawed and the Cobalt Lend platform corrects this by facilitating a community voted and approved lending program on the blockchain that is completely based off the merits of the project, never seeing race, color, or individuals background. The only criteria considered for the loans will be merit of project and collateral provided by the borrower, then the community will be left to decide on funding the proposal or rejecting it. To learn more about community voting in the Cobalt lend ecosystem click here.
250 million of the 1 Billion Total Supply of Cobalt Tokens are saved for the Token Sale and Earn-Drop with another 200 million held for liquidity on the principle DEX’s at dispatch. The remainder of the symbolic gracefully is constrained by the Treasury and Foundation with the greater part being bolted until the Cobalt people team vote opens them.
First Stage of Private Pre-Sale NOW CLOSED
October 31st 2020 to November 8th 2020
Cost per Token .084usd with a repayment model of 100% though “Legacy Investor” program.
Second Stage of Private Pre-Sale ACTIVE
November 8th 2020 to November 30th 2020
Cost per Token .05usd with a repayment model of 50% though “Legacy Investor” program.
Third Stage I.E.O. on November 28th 2020 with BeeEx.
For more information please visit links :
Website : https://cobaltlend.com
Twitter : https://twitter.com/CobaltLend
Facebook : https://www.facebook.com/cobalt.lend
Instagram : https://www.instagram.com/cobaltlend/
Github : https://github.com/cobaltlend
Telegram : https://t.me/cobaltlend
Medium : https://medium.com/@cobaltlend
Cobalt – A new way to borrow!
Changing the world through blockchain
The Cobalt lending platform aims to bring together borrowers into a fair democratic voting community in order to get all size loans from micro loans to six-figure loans all without the over sight of a bank.
— Cobalt Lend (@CobaltLend) September 21, 2020