Best Match Between Lenders and Borrowers Is On the Blockchain

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The biggest issue in the lending industry is the matching system. Often, platforms don’t offer their assistance and either the lenders or the borrowers need to go through the process. It creates risk for people new to the industry, risk of making the wrong choice, and wasting time while doing it. But the introduction of the Blockchain aims to solve precisely that problem.

What does the Blockchain have to do with lending?

The Blockchain isn’t just the basis of cryptocurrency; it’s also a convenient data repository. Thanks to the cryptography that goes into sealing every single block within the chain, it is classified as the safest place to store your personal information.

Try to remember your last experience of lending money online. How long did it take for you to find a lender or a borrower? At least a couple of days right?

In many cases, the P2P platforms don’t offer support in matchmaking and the users are forced to invest extra time into finding a good match. Well, not many people have the additional time to invest into week-long searches.

AssetStream aims to solve precisely this issue. Due to their platform being based on the Blockchain, they are able to process both borrower and lender criteria within seconds and find the perfect match.

The best part of the story is that it happens without the users having to move a muscle.

The lending industry is a space to help people help each other with as little inconvenience as possible. And AssetStream stands in the very center of that industry.

How does AssetStream solve this issue?

AssetStream is a staunch supporter of the Blockchain. Therefore all of their solutions involve using the technology. For example:

  • The transaction time – solved by the amplified speed of the Blockchain
  • The transparency – Provided by the open source code of the platform
  • Additional fees – Completely removed due to less manpower involved

Just hearing about these solutions is not enough to feel the value. Fortunately, however, we have a case study of a small business owner from South Africa, Alex, who had some additional income this month. So he decided to lend his surplus.

After applying on a P2P lending platform, he deposited funds which came with a fee, found and chose a borrower all on his own, which took him a couple of days, and finally made the transaction, which also took several days.

Alex might have gotten his initial deposit back with interest, but the amount of time he invested does not match the profits he made. So it was more of a loss for him.

AssetStream aims to simplify the process that Alex just went through. By automating the matching process of lenders and borrowers, users are able to save precious hours without having to be involved (unless they want to). All they have to do is indicate the criteria they demand from either a potential lender or a borrower, and just wait for the match to be made automatically.

The AST Token that will be the currency used on the platform will significantly shorten the transaction times as well, which will help both the lender and borrower have a clear schedule.

All of this with virtually no fees attached.

How will you enter the lending industry?

What’s more important for you as an investment? The money invested or the time? Well, what if there is a perfect equilibrium for both of them?

AssetStream is able to provide fast transactions, effortless matching processes between lender and borrower, and industry standard transparency due to their Blockchain platform.

All of the above while saving time and money for the customer.

Disclaimer: This is a guest article. The views, opinions and positions expressed within it are those of the author alone and do not represent those of Cryptopolitan. The accuracy, completeness and validity of any statements made within this article are not guaranteed. We accept no liability for any errors, omissions or representations. The copyright of this content belongs to the author and any liability with regards to infringement of intellectual property rights remains with them.

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