The future of Marketplace lending: - becomes easier and more efficient with LENDOIT

obi2024 (25)in #blockchain • 7 years ago

Lendoit is a decentralized P2P lending platform, connecting borrowers and lenders from all over the world in a trusted, fast and easy way, using the advantages of smart contracts and blockchain technologies.
The process overview of Lendoit can be seen as in below Process Overview.png

Lending services, which used to be provided by the banks in a centralized way, are now provided by the crowd in a decentralized way.
Marketplace lending which stated more than a decade may reach $290 Billion by 2020, with expected Compound Annual Growth Rate of 51% from 2014 to 2020, this is according to Morgan Stanley (https://en.wikipedia.org/wiki/Centralisation ).
However, something is missing in the current P2P lending companies which Lendoit is here to address.

These companies lack transparency.
They are bound by their borders,
They also have intermediates (such as trust accounts, and other factors that go between).
There are differences in lending rates for borrowers and return rates for lender, depending on which part of the world they are operating from. For example, there are locations where there are very high interest rates for borrowers and there are other locations where there is a very low return for lenders.
Lendoit provides a solution where there will be a decreasing loan interest rate for borrowers and increasing returns for lenders across the globe thanks to the power of Blockchain.

With an already working alpha version, Lendoit is the pioneer of P2P Lending platforms over the Blockchain and its purpose is to change the way people give and receive loans. Lendoit aims to create a more accessible loan process and move the P2P Lending over the Blockchain from the POC level to a real application.

Features
Lendoit Ecosystem
Lendoit create an ecosystem, using its Smart Contracts that can serve the following participants:

Borrowers can apply for a loan using Smart Loan Contract
Lenders can lend to borrowers, using the Smart Loan Contract, by transferring funds to the contract
Reputation Consumers can get information about an Ethereum address via Smart Reputation Contract for any purpose (e.g. check address before transferring tokens to it, exchanging physical asset for tokens, etc.)
Collectors can buy the debt in a tender using the Smart Loan Contract

No Intermediates:
Using the Smart Loan Contract, both borrowers and lenders can eliminate the need of any 3rd party in order to deal with each-other. They can simply interact through their wallets using the platform as the monitoring intermediary.

Trusted and Secure
By using a system of Smart Contracts along with a combination of elements from the traditional lending world, Lendoit users can benefit from a seamless trusted and secure lending process.

Decentralized and Anonymous
As result the lenders can remain completely anonymous and does not need to register anywhere, all they need to do is simply select their preferred loan from the marketplace and initiate it straight from their wallets.

Smart Loan Contract
Lendoit Smart Loan Contract is called a contract but it is actually more than that, it has many parts in the loan process:

It stores the borrower’s loan request score alongside its score provider
It stores the borrower’s verification hash alongside its verification provider (usually the same as the score provider but can be different)
It stores the loan logic and act as an electronic immutable agreement
It runs the lender’s tender for the interest price
It acts as a trusted intermediate that responsible for holding and releasing the funds
It is responsible for updating the Smart Reputation Contract with objective record
It is responsible for transferring funds to the Smart Compensation Fund Contract in and from the Smart Compensation Fund Contract, in case of a defaulted loan
It is responsible for interacting with the Smart Conversion Contract and auto convert the fees and interest to Lendoit tokens (LOANs)
It is responsible for the change lender ownerships using the Secondary Market
It is responsible for the collector’s tender in case of defaulted loan Lendoit publish the Smart Loan Contract into the Blockchain and in Lendoit Marketplace

Lendoit’s Token (LOAN)
Lendoit Token, LOAN, is an ERC-20 token.
The LOAN will be liquid always with reserve of Ether using Smart Conversion Contract but will be available in other exchanges as well.
The LOAN is used for the following utilities:

Right to lend - In order to participate in the lender’s tender and lend funds, to the Smart Loan Contract, the lender must hold LOANs with a value that equals to a portion of the amount he desire to lend
All the fees from the loan are given to Lendoit in LOANs - When Lendoit withdraw its fee from the Smart Loan Contract, the process occur via the Smart Conversion Contract automatically
All the interest from the loan will be given to the lenders in LOAN - When the lenders withdraw their yield from the Smart Loan Contract, the process occur via the Smart Conversion Contract automatically The LOAN will be sold in a token sale event scheduled for the end of 2017.

Competitive advantage of Lendoit
In trying to understand what makes Lendoit different from similar providers, the below table comes handy.

Road map of Lendoit
This is the road map of Lendoit from token generation to blockchain lending revolution.

Meet the Team
The Lendoit team shares over 100 years of experience in the Fin-tech industry Backed by highly talented development division. They are all ready to take the Lendoit vision in full force in order to change the lending industry and begin the revolution of personal funding on the blockchain.

Ori Erez
https://www.linkedin.com/in/orierez/
Co-Founder & CEO
Entrepreneur and believer in decentralized economy. Comes from the Algo-Trading and Portfolio Managment fields in great companies like invest.com and Tradency.

Vlad Amirov
https://www.linkedin.com/in/vladamirov/
Co-Founder & CTO
Guru in technologies and Blockchain expert, brings 20 years of experience in leading development teams. Established 5 successful platforms from scratch in global companies like Easy Markets and invest.com.

Yoav Pinkas
https://www.linkedin.com/in/yoav-pinkas-7a251011/
Co-Founder & COO
Recognized expert in databases with over 30 years of experience in solution development, Database administration and Data Architecture in great companies such as Retalix, Aladdin, 888, invest.com and Easy Markets.

Avi Ben David
https://www.linkedin.com/in/avi-ben-david-bb3651110/
Co-Founder & Managing Director
Entrepreneur, a leading financial advisory for public and private companies . More than 27 years of professional experience in the financial markets.

Federico Hoyer
https://www.linkedin.com/in/federico-hoyer-010103139/
Community Manager

Vadim Voznesenski
https://www.linkedin.com/in/vadim-voznesenski-5aa2b3/
R&D Manager

Vladimir Mozzhechkov
https://www.linkedin.com/in/vladimir-mozzhechkov-a133a221/
Senior project manager

Olga Karpova
Senior Designer

Vitaly Lukanin
https://www.linkedin.com/in/vitaly-lukanin-3a94433/
Guru in back-end development

Igor Fedorov
https://www.linkedin.com/in/%D0%B8%D0%B3%D0%BE%D1%80%D1%8C-%D1%84%D0%B5%D0%B4%D0%BE%D1%80%D0%BE%D0%B2-1115b760/
Senior full-stack developer

Maxim Nagibin
https://www.linkedin.com/in/maxim-nagibin-3041a32b/
UI/UX Expert

Andrey Golikov
Full-stack developer

Alexander Sapronov
Senior mobile and server side developer

Igor Yankovsky
Senior mobile and server side developer

Dmitry Entin
Guru in IT infrastructure

Alexander Schukin
Senior QA and QA automation specialist

Andrey Dmitriev
https://www.linkedin.com/in/andy-dmitriev-718a695a/
Senior system architect

Maxim Kovtun
Full-stack developer

Meet the Advisors
Lendoit is advised by professional as shown below.

Jure Soklic
https://www.linkedin.com/in/juresoklic/
CO-Founder and CEO / Hive project. Jure is an executive and consultant with extensive experience in the international financial industry. He is an expert in eCommerce, digital marketing, omnichannel, retail, business development and start-ups, and has strong track record in the field of finance, consumer durables and marketplaces. A true believer in a decentralized economy.

Ram Avissar
https://www.linkedin.com/in/ram-avissar-adv-cpa-20482b84/
Community Director at CoinDash. Ram is involved in the Crypto space since 2013 as a private investor and as a big fan of the technology and the field. Ram was part of the founding teams in well known projects as CoinDash and Matchpool, building their communities and marketing structures from scratch while guiding them through launching their own tokens. He is also a certified Adv, advising startups companies from incorporation through financing rounds and M&A and a CPA formerly at High-Tech assurance service at EY.

Gilad Ben-Ami
https://www.linkedin.com/in/gilad-ben-ami-20974133/
Gilad Ben Ami, brings to the table an extensive experience in tax planning with special expertise in international tax planning, and in consulting on tax matters in multi-national transactions. Additionally, Gilad Ben Ami has an extensive experience in representing clients in front of the tax authorities in disputes regarding tax matters, representing and consulting to clients on M&A transactions on large scales including investment funds, multi-national corporations, start-up companies, employees incentive plans and various tax matters.

Useful links
The link to download the whitepaper and join the telegram community among other links are found in the useful links list below.

https://lendoit.com/
https://lendoit.com/Lendoit-whitepaper.pdf
https://bitcointalk.org/index.php?topic=2163413.0
https://t.me/Lendoit
https://twitter.com/Lendoit_company
https://www.facebook.com/Lendoit-711878599015286/
https://www.linkedin.com/company/18172743/
https://lendoit-slack.herokuapp.com/
https://www.youtube.com/channel/UCIe8djhxkOqiR0tKdxQ9B3w