Lendingblock Aims to Popularize Crypto Lending in a Secure and Transparent Way
There are more than 1,500 cryptocurrencies in the world, and the number is bound to keep rising. Lendingblock is among the projects that are currently working to raise the popularity and accessibility of digital assets.
Lendingblock aims to become the first to build a marketplace where cryptocurrency lenders meet borrowers, and can exchange their assets across blockchains. The platform aims to bring securities lending to the crypto economy. The current estimates of the market paint a picture of enormous potential for development: in 2017, $2 trillion of assets on loan in traditional securities lending brought approximately $4 billion in revenue. Replicating this in crypto could generate up to $300 million within 3 years as the project notes in its white paper.
Among the potential customers are both institutional lenders and borrowers and private market participants. All of them are seeking a fast and transparent service that can be provided through a secure smart contract. Blockchain technology will ensure that interest payments are made on time automatically as soon as the borrower receives the asset and the terms are met.
With early investments from Alpha Block Investments, Global Blockchain Innovative Capital, Astronaut capital, Fengshui Capital and MW Partners; and advisors from Funding Circle and ex-Deloittle and UBS; the team of academics, technical specialists and capital market experts is working to create a marketplace beneficial both for lenders and borrowers.
"At Lendingblock we believe in a positive future for digital assets and the benefits that they can bring, but in order to realise these benefits there needs to be significant progress in the development of supporting services and infrastructure," comments Steve Swain, co-founder and CEO of the project.
"This is why we are creating a truly open marketplace that will connect borrowers and lenders in a way that is fair, transparent, and secure. We will allow people who are holding assets for the long term to earn interest by lending them to people who want to borrow, and have collateral that can be used as security."
Lendingblock ICO details
The Lendingblock ICO will raise funds in three steps: a private sale (already closed), a pre-sale, and a crowd sale. The pre-sale goes live on 7th April 15:00pm GMT and ends on 14th April 2018 15:00 GMT. Those who join the pre-sale can invest from $25,000 to $500,000 and will earn a 5:1 bonus. The main sale starts on 15th April 2018 15:00pm GMT with a funding cap of $2 million and will run until 22nd April 2018 15:00pm GMT.
If you're interested in the Lendingblock ICO, you can visit the official website or follow it on Twitter and Telegram.