London, UK – Originally, peer-to-peer lending services were created to enable individuals and businesses to loan money to one another without financial institution as a middleman. Instead of it, this process is based on a trusted third party – an online platform, as a rule – which strictly controls execution and takes responsibility for the timely enforcement of a pre-agreed arrangement. For the provision of service, in turn, the platform charges a corresponding fee.
This sort of money lending has seen a spike in interest after the financial crisis of 2008. As banks imposed an additional round of restrictions and made it harder to receive an actual credit, people started to develop an interest towards financial lending in a form of peer-to-peer loans. Throughout the years, this niche has developed exuberantly and generated numerous players – until the point when the blockchain technology came to change the rules in the decade after 2010.
From that moment on, the services of peer-to-peer crypto lending have seen a (steady) rise. Regardless of the participant’s location, they are able to connect buyers and lenders from all around the world, which became possible primarily due to their decentralized nature. This grants keys of the financial system to people coming from areas of the world where traditional banking is out of reach, while also helping them to overcome a low credit rating score. Altogether, this serves the purpose of promoting a more open and liberal financial system for everyone’s inclusion, despite social class and citizenship.
However, the major pain point of current market offerings is the lack of proper customer support. While plenty of initiatives created an open marketplace to bridge the buyers and lenders, in most cases they do not take responsibility for them and fail to respond with a proper course of actions if a breach occurs. In the traditional financial system, the identity of a borrower is verified through bank checks, credit lines and other sources of centralized identity verification, which the decentralized blockchain system does not necessarily engage in. This is why the issue of financial fraud and scamming is increasingly commonplace, and the new type of blockchain-based services are not always able to handle all consequences properly.
For that, Bitcoin Global P2P-Platform came up with a solution. Its advanced feature of customer service ensures the timely settlement of queries and guarantees both buyers and lenders get what they truly signed up for, with the VIP and Corporate client services providing an extra layer of trust. The platform also lays out a solid cybersecurity foundation with the help of WhiteBIT.com exchange platform, thus making sure that users can engage into the service with no external risk.
Partnering with 40+ verified crypto exchanges, Bitcoin Global P2P-Platform already garnered 50,000 BTC in liquidity. The platform stretches to cover 15 most demanded crypto assets, with more yet to be added. Both iOS and Android app versions are anticipated to be launched in August, providing a full scope of functions available in the desktop version with no tossing out to a web browser. All customers will be able to take advantage of stacked order books with bids from corporate partners starting from day one.
Company: GLOBAL PAYMENT TECHNOLOGIES LIMITED