Lendingblock

Overview of Lendingblock

Lendingblock’s approach to the implementation of smart-contract-executed lending terms and the overall technical architecture of the platform itself is unique — a hybrid model incorporates both decentralized and centralized components, allowing for the transparent management of collateral and contract execution on-chain while securing private data in cloud-based infrastructure.

Lendingblock has established a two-pronged approach to regulatory compliance; work with the GFSC to achieve compliance with the DLT Regulatory Framework, as well as anticipate broader global regulatory developments and establish appropriate controls in advance of potential compliance requirements”

Lendingblock is committed to meeting the stringent and comprehensive compliance requirements set by its external regulator, the Gibraltar Financial Services Commission, and to adopting global best practices from the traditional capital markets space where regulation of digital assets is forthcoming.

Lendingblock is leveraging blockchain to efficiently introduce the ability to borrow and lend cryptocurrency in a secure and transparent manner.”

Melamed added: “We are truly excited to be a part of the innovation Lendingblock is bringing to the blockchain financial services ecosystem.

Lendingblock outline the valuation of LND as governed primarily by demand for the token as the development of network effects attract more platform participants, which will be driven by global community engagement, targeted business development, and institutional sales.

Lendingblock appears to have gone to great lengths to ensure that their platform creates lending agreements that present a strong argument for legal enforceability, and provide a natural language documentation in tandem with the smart contract lending agreement.

Lendingblock, the securities lending platform for digital assets, announced the Gibraltar Financial Services Commission (GFSC) has made an in-principle decision to grant the firm authorization as a Distributed Ledger Technology (DLT) provider.

Lendingblock’s own revenues are generated from borrowing and lending fees and, based on industry estimates, the founders believe that the crypto lending market could generate annual revenues in excess of $300 million within three years.

Lendingblock is the brainchild of Deloitte Partner and Investment Banking MD Steven Swain and Deloitte blockchain consultant Linda Wang, both of whom possess extensive experience in computer science.

Lendingblock’s proprietary warm wallet solution has been developed through the creation of a separate platform that only allows a small number of pre-approved addresses to access.

Blockchain

There are a number of lending platforms present in the blockchain ecosystem at present, so it’s important to highlight the key difference between Lendingblock and these platforms — Lendingblock isn’t concerned with lending in the same sense as Ponzi-esque platforms such as BitConnect.

Mine

The success of a blockchain platform is determined by the quality of the team behind it, and as such Lendingblock ICO appears to be positioned as one of the more promising projects to launch in 2018.

Network

The LND token will be issued as an ERC20 token on the Ethereum blockchain and will function as a utility token that is used to facilitate interest payments between borrowers and lenders.

Regulation

Support

The Lendingblock whitepaper goes into great detail regarding the legal intricacies of their proposed contract execution methodology, but outlines a strong case for regulatory and legal support despite the lack of statute or case law specifically recognizing cryptocurrency as property.

What are the tokens used for and how can token value appreciate?

LND tokens are used as the currency within the LendingBlock platform.All interests from the loans generated on the LendingBlock platform will be paid in LND tokens.Borrowers will be able to pre-purchase LND tokens to meet interest payments at the start of the loan agreement, to allow them to lock in the cost of the interest payments.The value of LND tokens hinges on (1) how much loans are being generated on the LendingBlock platform, and (2) the length of time borrowers hold the LND tokens that are used for repayment of loans.The more activities the platform has and the longer period of time users hold LND tokens, the more valuable LND tokens should become.

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How Will Lendingblock Use Crowdsale Funds?

Lendingblock has a clear delineation for the use of its funds.Fifteen percent goes to sales and marketing, with 20 percent for developing user tools.Another 20 percent will go to developing the core platform services.Fifteen percent goes to contingency coverage and 10 percent each goes to expert external services, developing integrations, and core management.

How advanced is the project?

The idea of LendingBlock was conceived in October 2017.The demo was completed in February 2018.Here is the link to try the demo: https://demo.lendingblock.com/ Below is a screenshot of their demo.

How Much Did Lendingblock Raise?

The Lendingblock ICO (initial coin offering) raised $10,000,000 USD by selling 500000000 Lendingblock tokens at a price of $0.02 USD.The Lendingblock ICO began on April 15, 2018 and ended on April 22, 2018.Key team members during the Lendingblock ICO included Alberto Sonnino, Charlie Beach, and Kingsley Advani.

Why do we exist?

Purpose: 50% of the world’s population make less than $6/day, 10% makes less than $2/day.

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Wait — Why Lend Cryptoassets?

Securities lending is a key element of any complex, liquid trading ecosystem, and performs an important function in traditional securities markets.Both brokers and market makers rely on securities lending in order to ensure the settlement of trades or to make sure that purchases can be made.

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What Does the Lendingblock Road Map Look Like?

Lendingblock began in October 2017 with a vision, followed by customer validation in November of that year.In January 2018, the operations were incorporated and the platform design took place.February 2018 saw the private sale and a prototype platform.In March, there was regulatory application and the platform exchange MVP.April saw the ICO and smart contract MVP.

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What Are LND Tokens?

LND is the token behind Lendingblock.It is used for making payments and for receiving interest on loans.By using LND for these functions, Lendingblock is able to reduce the cost related to exchange fees.This also makes it much easier to manage interest payments since they will be in a single currency instead of the many cryptocurrencies lenders and borrowers have.Thanks to the use of a token like LND, smart contracts can govern a loan’s operational processing requirements.This reduces expenses, risks, and complexity, ultimately delivering lower costs for the borrowers and higher returns for the lenders.

How Many Lendingblock Coins Are There?

There are currently 786,162,769 Lendingblock coins circulating out of a max supply of 1,000,000,000.

Ready to try it out?

Get started for free, then add your whole team.You can always talk to sales if you’re interested in advanced plans.

What does the company/project do?

Lendingblock is an exchange for borrowing and lending cryptocurrencies and digital assets.It allows borrowers and lenders to enter into cross-chain fully collateralized crypto vs crypto lending agreements.The cryptocurrencies that will initially be supported by LendingBlock are bitcoin, ether, ripple, bitcoin cash, and litecoin.Users can borrow any of these 5 currencies and use any other 4 currencies as collateral.The collateral value will be monitored by the platform and there will be margin call if the collateral value falls to near the loan value to ensure there is an appropriate level of collateralization.There will be two groups of end users:Lenders: Target lenders include institutional lenders, such as asset managers, hedge funds, and family offices, as well as individual participants in “crowd lending” who can gain access to lending opportunities not currently available to them.Borrowers: Target borrowers include institutional investors and market makers engaging in the following activities: shortselling, hedging, arbitrage, fails-driven borrowing, and so on.Minimum loan size will be $100,000.

What is Lendingblock?

The Lendingblock project aims to create an open exchange for crypto asset loans that matches borrowers and lenders in a transparent manner.

What Is Lendingblock's Price Today?

Lendingblock (LND) is trading at $0.00156 USD, increasing by 4.01% since yesterday.Lendingblock has traded $8,261 USD in the last 24 hours.

Who Can Use Lendingblock?

It will be possible for nearly anyone to use Lendingblock since there will be both mobile and web tools.Additionally, there will be APIs that expose market depth, executed transactions, yield curves, and order books, making it possible for borrowers to submit requests and lenders to submit offers.

Why Did Lendingblock Choose to Create LND?

There were two major reasons behind the decision to use LND as the primary method of payment within the platform.The first is to simplify receiving and paying interest since the team expects that borrowers and lenders will both utilize multiple different crypto-assets.By using a single token for these transactions, there is no need to spend on exchange fees, saving everyone money.Additionally, using a common currency allows for a simpler technical solution when meeting a loan’s operational processing requirements.This reduces the expense, risk, and complexity, all of which the users would have experienced without the existence of LND.

History of Lendingblock