Blockchain technology is becoming more embraced in the financial industry, this has been due to the improvement of the financial lending scene, blockchain technology is decentralizing financial institutions to make processing of loans decentralized allowing any one to have access to loans, this is done through peer to peer lending. Blockchain technology promises security and transparency in transactions improving loans processing.
Peer to peer lending in a decentralized environment is beneficial to investors because the interest rates are minimum compared to traditional financial institutions, the processes is done in a more transparent manner creating a less bureaucracy environment. The loans are secured through cryptocurrencies as collateral and this ensures the security of the loans.
Cryptocurrency market cap has over $400 billion in assets creating potential target clients for peer to peer loans, one of the platforms that plans to target cryptocurrencies holders to access peer to peer loans is LIQUID8 which is currently raising funds through an ICO to raise funds towards development of the peer to peer financial transactions processing platform.
The platform plans to connect financial lenders with borrowers, LIQUID8 plans to target financial institutions to join the platform as lenders to allow a large lending balance that will be accesses on the platform by borrowers. LIQUID8 will not offer any loans to borrowers instead it will offer a platform that allows custom transactions to be processes, Transacting on the blockchain will bring back trust to financial institutions.
What Is Liquid8?
LIQUID8 is a decentralized platform that will connect lenders and borrowers in a transparent environment thanks to blockchain technology. This will be done through its own tokenized economy that is supposed to help reduce the transaction costs and be used to process smart contracts, LIQUID8 plans to connect financial institutions with borrowers in a decentralized digital assets marketplace.
How Liquid8 Decentralized Crypto Asset Trading Exchange Works.
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LIQUID8 plans to use smart contracts that will be processes automatically in a decentralized environment, the smart contracts will use artificial intelligence to create no room for errors increasing the speed of loans processing compared to traditional investment processing. The platform plans to offer both on chain and off chain processing of smart contracts.
LIQUID8 is a decentralized platform that plans to make it easier and convenient for ordinary citizens to have access to financial services, this is through borderless financial services transactions that will tap the unbanked and individuals with no financial records.
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This is how liquid8 works, the digitization of real-world assets occurs when the owner requests the digitization of the assets and the process is done through an off-chain assets protocol that uses smart contracts that is delivered to the issuer of the token, an on-chain processing is processes once the asset owner agrees the terms and conditions set out on the electronic agreement. Through the tokenized smart contract, the platform will issue Smart Asset tokens that will represent the tokenized asset.
Liquid8 Platform Features.
Liquid8 platform will allow its users to tokenize their assets to allow the assets to be digitized, this will allow the transfer of ownership to be done digitally and assets to be traded in a borderless environment tapping a global marketplace.
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The platform will also include a digital market place for lending services that will connect financial institutions as lenders and cryptocurrency holders as borrowers. peer to peer lending will be processes automatically through smart contracts to allow instant processing of peer to peer loans.
The platform will also allow peer to peer exchange of digital assets in a decentralized environment, exchange will be processes instantly due to the ability of smart contracts to operate without human intervention.
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Users will also be able to store their tokens on the platform multi assets wallet, the wallet is secure and private keys are encrypted and they will be available to the owner of the wallet only.
Benefits of Liquid8 platform.
LIQUID8 Plans to decentralize financial services in a simple process of tokenizing real-world assets, this will allow even first-time users of cryptocurrencies to be able to digitize their assets in a simple process of following prompts.
The smart contracts will enable us to get rid of human verifications that are time consuming allowing the platform to operate automatically through processing of services automatically, the use of smart contracts will improve the efficiency of the transactions and also reduce operations costs.
Users will be able to experience high security for their financial services, LIQUID8 will use biometric identification, bug bounty program, and other authentications that will improve the security of the platform. LIQUID8 will store almost all their crypto assets in cold storage to improve the security of the platform.
Through the use of distributed ledger technology LIQUID8 operations will be transparent and the records will be free from hackers' exploits, the records will be accesses in real-time thanks to the storage mechanism of blockchain technology where records are stored in nodes in a decentralized environment.
To ensure the smooth running of the platform, LIQUID8 plans to adhere to government rules that prevents money laundering in the cryptocurrency market through the use of Know your customer processing of applications.
Conclusions.
LIQUID8 is offering a clean and transparent financial service in a decentralized economy that taps the global market, the platform business model is very solid and the services provided are much needed in the cryptocurrency community, the success of the platform lies in its adoption and combining new technologies and financial services are one of the reasons I believe in the success of the projects, but the team has to deliver their promise for the betterment of their investors and the general cryptocurrency community.
References.
WEBSITE: https://lq8.io/
WHITEPAPER: https://lq8.io/assets/docs/whitepaper_4.pdf
FACEBOOK : https://www.facebook.com/Liquid8-152207538972474/
TWITTER: https://twitter.com/LQ8_Liquid8
TELEGRAM: http://t.me/lq8en
Author: jamesndungu1
BitcoinTalk Profile: https://bitcointalk.org/index.php?action=profile;u=1856049
Ether Address: 0x8E8A5B6e2ABF1Bb64759bDd4DBe788F45B1D4f54
