My Review Of VIAZ: A Tezoz Blockchain Based P2P Funding Platform

In this modern age of technological advancements and enlightenment, most businesses firms, and individual at one point or the other wants to step up their game financially by taking some big risks of borrowing money and seeking financial assistance which is why the banking system is very important. Not only that, majority of the global business transactions still depends largely on banks before they can make transactions.

I would also like to mention that there’s no big establishment you can mention in this modern age that hasn’t in a particular point in time taken a big financial risk with banks which if it hadn’t gone well, would have resulted in a major financial crash. On this premise I would like to state that without banks and other big financial institutions, then there wouldn’t be a financial advancement by most businesses and firms.

The problem with the banking system
Considering the great importance of banks transaction processing, lending and borrowing activities in the world sector, this is the reason why banks see themselves as indispensable and as a result, make decisions which are very harmful for everyone. Borrowing money from the banks comes with very great risks such as obtaining high credit score, getting collaterals, paying back with extremely high interests, amongst others.

Not only money borrowers are experiencing difficulty with the banking sector, even business owners who carry out transactions on daily basis complain of high transfer charges, slow transaction process among others. Also, we need not forget that most of these banks are risky to keep funds with because the moment these banks run into financial crisis, then users funds are no longer safe.

Why do we have to be extorted and treated unfairly by banks just because we want a financial progress?

The solution: VIAZ platform

With the recent technological revolution being provided by the blockchain technology, we cannot deny the encouraging solutions being provided by the technology ever since its innovation, and on this note, VIAZ platform has decided to provide a solution to the problems being encountered among lenders and borrowers by utilizing the blockchain technology.

VIAZ is a decentralized platform based on Tezos blockchain with the sole aim of introducing prospective lenders to prospective borrowers ad also connect its users thereby acting as a conduit in between fiat and cryptocurrencies.

This platform has already begun the process of borrowing and funding and aims at improving upon its functionality and utility. By the time the mainnet launches (which will be after the launch of its betanet).

How does it work?

On VIAZ platform, account holders will have the opportunity of using their cryptocurrency assets as collateral for fiat borrowing in which they will have to pledge their crypto in order to be able to post the loan. Also, some other users are given the opportunity to lend their cryptocurrency funds and fiat at higher interest rate, and each time a loan order is posted, the VIAZ platform creates a smart contract and records it in the Tezos blockchain ledger.

Unlike traditional banks that make use of amortization method, VIAZ will implement a linear repayment methodology with VIAZ service fee (small percentage added to loan interest rate) which allows borrowers to build equity faster and simultaneously, the lender gets the same amount of interest.

What are the special features of this platform?

• Provision of crypto and fiat wallet for all users for secure fund management and transfers
• VIAZ branded debit card issuance for all borrowers which will be managed by licensed banks in which daily and monthly limits can be set
• Mobile application for all users which will be available for both android and IOS users
• Decentralized account identity feature which allows users retain control of an on-chain identity with a unique ID and private key
• Lenders have the opportunity to bid whatever interest rate they want and
• No sign up fee or monthly maintenance fee required but rather charges small percentage of interest in form of tokens for maintenance.

On VIAZ platform, the tokens are the native token to be used and the token holders will have some benefits such as;

• Selling of tokens through the VIAZ platform
• Using of tokens for loan collaterals and
• Monthly airdrops based on participations on the platform.

Conclusively, the operational method and strategy being proposed by VIAZ platform is second to none which offers a neutral, sane, and comfortable conditions between lenders and borrowers of funds unlike what is been experienced with traditional banks. On this premise, I personally feel this platform is already a success therefore, safe to invest upon.

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