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Financial Technology
Micro Lending and Mortgage of Digital Assets such as NFTs, Intellectual Property Rights, Stocks, copyrights etc.
Create a newtork for the Banking system The website will be going to include the following information:
- Creating a secured banking system for Micro-Lending of money
- Keeping and securing digital assets as mortgages
- Defining the newer credit score using transaction volumes and bank account holdings
- Using the Mortgage to borrow a lower amout of high interest low duration loan
The current bank system do not provide low-duration high-interest Micro Loans to daily vendors because of unavailability of credit history and/or the inability of the customers to provide mortgage of the same value. We intend to solve this problem by providing micro loans to customers in form of fiat/crypto currencies by keeping their Digital Assets of the equal value as a mortgage.
NFTs, cryptos, holdings, stocks, bank accounts, intellectual property rights, A digital asset is anything that is stored digitally and is uniquely identifiable that organizations can use to realize value. Examples of digital assets include documents, audio, videos, logos, slide presentations, spreadsheets and websites
We intend to solve the problem of high micro-lending correspondence with respect to high interest rate and customer infidelity. We intend to keep various digital assets as mortgage for loan as many of the low yield households and other high frequency traders generally don’t have cash to settle their transactions, however they can make the money in the long run easily and settle the transactions. Since lack of credibility by these individuals is missing. We propose the bigger picture and intend to bring them under the organized sector of lending instead of informal sector making the monetary overwatch easier. Creating an Mobile application using Cloud architecture as alternative for the conventional methods for regular banking. This will have a simple to understand UI-UX experience. A flutter based application for customers for seamless transactions Risk assessment factors will be handled on a large dataset for optimising the risk assessment tool which will on the cloud. All the critical information will be stored in various multitude of regions and have repetitive sequence storing. It will revolutionize the lives of the marginalized and middle income communities and bring them into the mainstream banking service. Thus saving them from traumatizing experience they face everyday and have a reliable source they can trust. Our Solution will bring the unorganised micro lending to the mass and enable the banks to earn more while risking less and have a stable high cash flow source of income through them.
Feel free to open an issue (or even better, send a Pull Request) for making it even better. Contributions are always welcomed!! 😄
Note that a PR needs to reach a certain level of engagement before it gets merged. This criteria is kept to maintain the quality of this list. The current list of open PRs can be found here
As this project is community-driven, it'd be really helpful if you write about your PR and the changes you have done. This would help in merging it faster. 😇
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