VIAZ: CONNECTING LENDERS WITH BORROWERS VIA TEZOS BLOCKCHAIN TECHNOLOGY

mickeyberry (42)in #viaz • 6 years ago (edited)

In the financial space, we are today, many individuals and corporate bodies across the globe are oblivious about cryptocurrency and its innovative technology, therefore, failed to adopt its unparalleled innovations. You may want to ask why? There are so many reasons conceived by different individuals and corporate bodies. But as for me, one of the major reasons is because the benefits and advantages of cryptocurrency and its innovative technology are opaque to them and they fail to understand its importance in the financial industry – credit and lending space.

Blockchain technology alongside with cryptocurrency has extremely elevated those individuals and corporate bodies that adopt its innovation. In the present traditional lending and borrowing ecosystem, so many are faced with lots of challenges ranging from inability to provide collateral, loss of collateral because of high-interest rate, inability for most individuals to have access to loan, delays in loan processes, fraud, lack of data security and transparency, regional limitations and so many others. These collaterals could be landed properties, land deeds, and other physical properties but in the decentralized borrowing and lending platform, the individual uses cryptocurrency as means of collateral.

Blockchain technology has made it obviously clear that anyone can have access to cross-border borrowing and lending without any limitations and placing of physical properties as collateral which is an added unique advantage to those who adopt the use of cryptocurrency as a means of borrowing and lending. Borrowing and lending on the blockchain technology have a paved way with lots of benefits to corporate bodies and to those who do not have access to bank or any lending services.

The decentralized borrowing and lending system have great advantages over the traditional lending system in terms of transparency and efficiency as a result of smart contracts utilization on the platform. It also eliminates intermediaries, giving space for peer-to-peer borrowing in a serene and secure environment at the convenience of your home. The decentralized borrowing and lending platform are not prone to hacks.

Let's see how this traditional developing economy system has showered opportunity for a blockchain technology like VIAZ platform.

WHY VIAZ?

VIAZ as a decentralized borrowing and lending platform has revolutionized to disrupt the traditional system of borrowing and lending using blockchain technology with smart contracts. A smart contract is a high-tech protocol that is projected to digitally enable and authenticate the negotiation of a deal while the blockchain is a distributed system that utilizes cryptography as a means to secure and protect data from being tampered with. It has the ability to maintain a ledger of records indefinitely.

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The VIAZ platform is risk free funding, no paying of taxes, and it's safe and secured because if the Tezos blockchain technology.

VIAZ platform is a decentralized application "dApps", first of its kind to be power-driven by the Tezos blockchain technology with a core aim to connect those that borrow and lend cryptocurrencies and fiat (government issued currencies.). The VIAZ decentralized platform has the capability of disintegrating the intrinsic boundaries posed by the traditional lending system thereby linking fiat, cryptocurrencies and equity in other for individuals to have autonomous power over their own financial goals.

The VIAZ platform serves as a bridge between the lender and the borrower thereby providing multi-utility and functionality services across the platform globally. The VIAZ platform uses a special smart contract called the Decentralized Account Identity (DAI) that enables users to retrieve their lost account due to negligence or loss of their private key.

The VIAZ platform enables every lender to bid on funds based on interest rate variation. This will create a competitive environment for borrowers there incurring more profit for the lender.

BENEFITS

The VIAZ platform users will be able to use cryptocurrency as means of collateral to borrow fiat currency;
Borrowers can customise their loan.
No intermediary
No credit check
Borrowers will be able to pledge cryptocurrency as a means to post loan.
Users will be able to lend cryptocurrency and fiat;
Repayment of the loan will be linear.
There will be no maintenance or sign up fees for all users. And many others.
With the help of the Integrated decentralized account identity (DAI), users will be able to retrieve lost private key or account because a special identification number is given and attached to the individual account.

VIAZ DEBIT CARD

The VIAZ debit card can be used globally and will be allotted to all borrowers using the VIAZ platform thereby giving them the access to optionally choose a daily or monthly limits. The traditional debit card is controlled by a third party buts the VIAZ debit card is controlled by its users. Therefore, a user can personally disconnect the card from the VIAZ network in case of card theft or misplacement of a card.

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VIAZ WALLET

Users will be automatically given cryptocurrency and fiat currency wallet upon registration on the VIAZ platform thereby giving users the autonomy control over their portfolio. Users can make a transfer of funds (digital assets or cryptocurrency) from their VIAZ wallet on or off the VIAZ network. Users can autonomously manage their portfolio.

VIAZ DAPP

The VIAZ decentralized app will be available for download on Android and iOS mobile users. The VIAZ dApp will be free for all registered users and they will be able to virtually transfer cryptocurrency at ease.

VIAZ TOKEN

The VIAZ platform created a native utility token called VIAZ token that will serve as a means for all services across the platform. VIAZ is minted on the Tezos blockchain will a total supply of 1.5billion. The token will be used as collateral, rewards, and service fees (presently 1% per year). The service fee will be split into three segments; one part will be burned, the other will be used for the platform maintenance and development, and the third part for monthly airdrop to holders of VIAZ token.