BTCCREDIT - Next-Generation Decentralized Banking Ecosystem

INTRODUCTION

Cryptocurrencies offer a wide range of benefits for users around the world. However, high volatility in their prices prevents mass adoption. The continuous demand about cryptocurrency is increasing, people have heard about it, and yet people want to find more about it, and find a way to be a part of it. The blockchain technology basically may be used for any types of transaction involving value (money, goods, real estates, etc.). Blockchain technology is a more efficient, decentralized and consensus-driven public repository, which can have a number of applicants in order to make citizens less dependent on governments.

Blockchain technology is the most popular and wildly used cryptocurrency exchanges which have gathered a significant amount of influence over the years. Application of blockchain are still in a defining stage and they represent an extremely fast moving field, with little established theory. It potentially allows individuals and communities to redesign their intentions in politics, business and society at large, with an unknown process if disintermediation on large scale, based on automated and trustless transactions.

BTC Credit is an across the board decentralized wallet which gives you full oversight of your blockchain advantage for hold, exchange, lend, borrow, invest, and stake. This record plots the plan of a decentralized next-generation banking ecosystem that is fueled by decentralized multi-money wallet, decentralized p2p loaning, and decentralized p2p Exchange capabilities.

HOW IT WORKS? USDT and BTCCredit Loan System

When an advance is chosen, and the two sides consent to the parameters on the book, a "handshake" is said to have occurred, which will bring about a sending of a brilliant contract on the Ethereum network. The borrower's wallet will be subsidized with the mentioned USDT and a calendar for reimbursement gets made.

As a loan specialist, a client enters the framework and assets his framework created Wallet with USDTs. The framework makes a loaning profile where his worthy credit parameters are recorded. The moneylender's advance profile turns into a piece of a "credit commercial center". As a borrower, the client enters the framework with his framework produced Bitcoin wallet. The bitcoin assets in the wallet structure the security against the potential credit. The getting prerequisite additionally turns into a piece of the "credit commercial center". A framework inner rationale naturally matches and proposes existing credits and borrowers. A borrower or moneylender can likewise physically choose from a lot of advance contributions or borrower's necessities.

As mentioned above, The reimbursement is recorded as the borrower stores the portion of USDT again into his WSDT wallet. A lot of terms and conditions kick in on the off chance that the installment is deferred, isn't sufficient or is more than required portion.

Characterizing the BTC Credit Platform Keeping the rivals as a main priority and examining the economic situations and patterns, BTC Credit has had the option to distinguish 4 key verticals with regards to the administrations offered by its Wallet:

P2P Lending and Borrowing

P2P Crypto Exchange

Handpicked ICO Investments

Interests through Staking

These administrations will be offered with the assistance of a Wallet on the stage. Think about the stage as a Bank and the Wallet as a Bank Account. Comparable to the Banking System today, the client can stack the Wallet with fiat or digital forms of money and utilize the assets to benefit benefits in all the 4 verticals referenced previously.

Market Analysis of P2P Lending

The BTC Credit group is attempting to feature the capability of this market, so as to clarify that their genuinely inventive distributed wallet arrangement holds extraordinary potential.

It is refered to, that "As indicated by Morgan Stanley, the market for Global Marketplace Lending may reach $290bn. by 2020, with a normal Compound Annual Growth Rate of 51% from 2014 to 2020."

Overall, the P2P loan experience is fast, efficient and inexpensive for all parties involved. However, the risk of lenders can be much higher because of the weak credit history standard expected from borrowers. This market also tends to be more volatile, but also less liquid compared to the stock market.

Now with the increasing popularity of the cryptocurrency, it is quite predictable that in the future, P2P loans will mostly be carried out with cryptocurrency. As in the latest poll conducted by the IMF it shows that most people today feel that their main payment mode will be crypto payments in the next few years. A total of 37,660 Twitter users voted in which 56% chose cryptocurrency as payment in the future.

Fixing the Lending Market

Today the expansion balanced loan fee in various nations differs dependent on the accessible liquidity. In high liquidity advertise, Europe, financing costs are between 0.5-5 %, in Russia 12-15 %, in India 12 % and in Brazil 32 %. This demonstrates an unmistakable disparity in the manner access to the loaning business sector is dispersed over the world. We accept that this disparity between the borrowers ought to be leveled and tremendous market worth can be made all the while, particularly through chances of Arbitrage. Banks charge 5-12% enthusiasm on advances and repay you 0-1% for holding your benefits with them. With the ascent of digital currencies and Blockchain, you would now be able to turn into your own financial organization. BtcCredit makes this a reality for you. Not simply this, you choose whom you need to loan your cash to, on which financing cost, and it what mode. The majority of this is accessible gratitude to Blockchain innovation, on which the Wallet of BtcCredit depends on.

Customary P2P-Lending

Customary P2P loaning is like institutional loaning, where some proportion of record as a consumer and financial soundness of the borrower is considered. The reliability of the borrower chooses the kind of credit bargain he/she is advertised. The technique to ascertain the hazard/financial assessment is overseen through exclusive calculations/man-made consciousness. The separation is likewise kept up through how defaults are dealt with, and punishments are forced.

Crypto P2P-Lending

There are some current Crypto loaning stages which are following diverse plans of action. Toward one side they are a simply like a customary p2p loaning stage with the capacity to acknowledge digital currencies as guarantees. On the opposite end, they convey the whole credit contract on the blockchain and execute occasions on the advance understanding through shrewd contracts.

The blockchain innovation, with its completely straightforward and upright exchange record, frames the perfect framework for dealing with the credit with its parameters like residency, financing cost, crypto insurance, and so forth.

Focused Analysis

P2P Lending Platforms can be partitioned into three fundamental classes:

Customary P2P - Lending inside a similar nation and in that nation's money

Digital currency without Smart Contract - Lending all around with cryptographic forms of money like Bitcoin

Digital currency utilizing Smart Contract - Lending utilizing Blockchain Smart Contract as a middle of the road.

Outstanding Competitors

Loaning Club (Traditional P2P) - Lending Club is a US distributed loaning organization, headquartered in San Francisco, California. It was the principal distributed moneylender to enroll its contributions as protections with the Securities and Exchange Commission (SEC) and to offer advance exchanging on an optional market. Loaning Club works a web based loaning stage that empowers borrowers to get a credit and financial specialists to buy notes sponsored by installments made on them. Loaning Club is the world's biggest distributed loaning platform.The organization guarantees that $15.98 billion in advances have begun through its stage up to December 31, 2015. BTCPOP (Cryptocurrency Loan without Smart Contract) - BTCPOP Ltd. was established in 2014 and has formed into a built up shared loaning site. BTCPOP's distributed loaning depends on notoriety and not using a loan score. Clients can get advances from different individuals or make cash by loaning - all by utilizing Bitcoin. The BTCPOP arrangement doesn't offer Smart Contracts.

ETHLend (Cryptocurrency Using Smart Contract) - A completely decentralized shared loaning stage utilizing Smart Contract on Ethereum Blockchain for loaning Ether by utilizing tokens as an insurance. Yet, ETHLend does not produce scores, nor does it offer any Compensation Fund to ensure banks. Recently, they have added a segment to their WhitePaper about prophets and protection, yet it clashes with their methodology of utilizing tokens as insurance, so the circumstance is indistinct

SALT (Fiat Using Cryptocurrency as Collateral) – Centralized fiat monetary forms advance stage for advance sums higher than $5000. It utilizes the Smart Contract just for storing digital currency as guarantee. Their objective market is borrowers with cryptographic forms of money who would prefer not to exchange their digital currency into fiat monetary standards. Just certify speculators and qualified monetary organizations can move toward becoming moneylenders on SALT.

The Lender's Pride

The Lender's Pride stage proposes to empower a credit commercial center with some special highlights. The framework being proposed will shape a discussion for moneylenders and borrowers to check advance and credit demand contributions including the advance parameters being advertised. In light of their own hazard discernment capacity to reimburse intrigue, the banks and borrowers will "handshake" with one another to make a credit concession to the blockchain.

Reimbursement Conditions

At the point when the Contract is finished or in the event of dispossession the borrower's solicitation for the arrival of their guarantee of BTC stored they can raise a solicitation for BTC withdrawal and it very well may be finished.

Typical reimbursements - The Admin Pays the Lender portion routinely and the Borrower pays the Admin Regularly, the framework will be advised by the blockchain of the following portion date of the Borrower.

Portion Delayed - If the Borrower Missed the date to Pay the portion the API Interface will inform the Front-finish of the Missing portion of the Borrower. The borrower gets 3 days of elegance period to pay the portion. on the off chance that the portion is paid inside 3 days no fine will be charged.

Portion Delayed and Missed - If the Borrower missed the date of portion he will be given 3 days of an effortlessness period and even he misses to pay the Borrower will be fined for the specific portion.

Borrower Defaulter - If the Borrower can't pay 3 back to back portions the framework will be advised by the blockchain as the Borrower is Defaulter and the Front end can Confiscate its insurance.

Pre Closure Loan - If the borrower needs to Pre Close the agreement he can close the Contract by paying the Principle + 5% Interest and close the agreement yet he can do just on the off chance that he has paid 3 successive portions

Additional portion Payment - Here the portion Amount is 1010 Every 30 Days, accepting the client stores 1500 USDT/LTD and he is happy to pay more than the portion Amount he can do it, however the following regularly scheduled payment sum doesn't change its sort of dispossession that implied the additional sum will be deducted from the last portion, so if the sum is more prominent than the last introduce.

Token Distribution

ROAD MAP Q4

2018

Launch of the P2P
Travel Crypto Loan System began with Borrowing and Borrowing, Launch of the Crypto
-Peer Loan System .
Ether Smart
Contract LDT Token Contract, BTCC Token Contract.

Q1 2019

The launch of the USDT Loan System
Users Can Lend USDT supported by LDT Tokens and Smart Contracts
Get Applications Available on Mobile Phones
Make the Loaning Platform Compatible with Mobile Phones.
Obtain a License to
Obtain Crypto Wallet and Borrowing License
Launch of Crypto Wallet
Launch of Crypto wallet.

** Q2 2019**

Listing of BTCC Tokens on our Loan System.
Now users can Lend Using BTCC Tokens and can use BTCC as a guarantee.
The launch of the P2P Exchange
Launch of the Cryptocurrency Exchange-to-Peer Exchange Platform.

** Q3 2019**

Launch of Betting Plans Launch plan bets for investors, who will benefit from interest in BTCC / BTC ownership as bets

Loans and Colateral

Now users can Lend Using Alt Coins and can use Alt Coins as collateral.

** Q4 2019**

Crowd Funding
Platform for Peer-to-Peer Peace Funding Platform

OFFICIAL LINKS

Official Links
Website: http://btccredit.io/

Whitepaper: http://btccredit.io/pdf/btccredit_whitepaper.pdf

Facebook: https://www.facebook.com/BTCCredit-1017662868433011/

Twitter: https://twitter.com/btc_credit

Telegram: https://t.me/joinchat/IBS1OA3IOCA2gDuD2sexaQ

Medium: https://medium.com/@info_60688

Youtube: https://www.youtube.com/channel/UCLE1iXyR2aTEgx4x6mQ0Lig/featured?view_as=subscriber

Author:
Bitcointalk username: kunlelexybit
BitcoinTalk URL: https://bitcointalk.org/index.php?action=profile;u=2652055;
Eth Address: 0x5B8342b312EA2678EAdf935B2f38311Ef87911e2