Given the sheer number of fraudulent P2P lending platforms, it is important to issue loans in both a private and compliant way. Lending is an important financial building block that can be used to power other applications (i.e. decentralized credit scoring).
Marketplace Lending Platform
A powerful use case enabling transparent peer-to-peer lending.
A lending platform can be built on Findora. It provides a transparent method for Internet-lending information intermediaries to operate their services in a way that is compliant with relevant regulations.
The platform can be both publicly audited for basic compliance as well as privately audited by regulators with tiered levels of access to more granular information.
Each pair of transactions representing a loan request and lender commitment that are sent to the lending platform smart contract engine spawn a new debt repayment smart contract that lives for the duration of the outstanding loan.