Revolutionary Blockchain-Based Loan Secured By Crypto-Assets Launched

BrotherlyLend
Sep 3, 2018 · 3 min read

The blockchain technology was invented in 2008, but it came into public use after the launch of Bitcoin. According to recent stats, the currently active user of cryptocurrency wallet ranges from 2.9 million to 5.8 million. And most of them use more than 1 wallet application by phone and desktop. However, blockchain is associated with the future of money but in the case of the loan, it can take us back in time. When banks were not started or founded, loans and refunds take place peer-to-peer. People had to trust each other. But over time, this trust is gone away due to several different reasons. Now, people started to add intermediaries and third parties for the protection of loans and refunds. But due to these middlemen, the process of lending and borrowing became complex and costly.

The blockchain based lending is developed to make this all process smooth, easy to use and less expensive.

There are several benefits associated with revolutionary blockchain based loan process.

 More Efficient Customer Identification

 Fully Transparent, Real-time Visibility

 Home mortgage and financing industry can benefit from blockchain technology

 Several Business Uses

 Credit Qualification is Becoming Digitized

 Secured By Crypto-Assets

What are the Crypto-Assets?

Cryptoassets are digital assets which use peer to peer networking, cryptography, and an open ledger to control the creation of new components, verify the transactions and protect the transactions without the involvement of any middleman. A crypto asset is a very wide term and is not limited only to cryptocurrencies. It also involves terms like utility tokens, platform tokens, and tokenized securities. The most important aspect of a crypto asset is its supply. As its supply determine the utility and value of a crypto asset. Types of Crypto Assets Today’s thousands of companies are offering thousands of crypto assets which offer different utilities. But we cannot label all of these crypto assets as the cryptocurrencies because they aren’t created with a purpose of replacing money. Thus, crypto assets are divided into 4 categories according to their different use and features.

The four types of crypto assets are:

 Cryptocurrencies

 Platform Tokens

 Utility Tokens

 Transactional Tokens or Payments Tokens

What is BroCoin?

This is a new and revolutionary cryptocurrency like Bitcoin and Etherium which allows its users to buy goods, pay for different services, keep as an asset or can exchange into other currencies. In simple terms, you can say, “A brocoin is a hybrid cryptocurrency that is created for people to use as they want”. BroCoins has partnered with Brotherleylend. So, its users can use BroCoin as collateral to take out loans.

Who is BrotherlyLend?

Brotherlylend is a sponsor of brocoin i.e. users can use their brocoin as security to take out loans with BrotherlyLend. BrotherlyLend is a new innovative secured lending platform where people can make investments in cryptocurrency to take out loans using cryptocurrency as secured assets. This platform provides loans in fiat currencies from around the world holding users cryptocurrency for them as collateral in a secure wallet. Unlike the other ordinary wallet that just keeps users cryptocurrency on their behalf, BrotherlyLend gives users the opportunity to take out loans 0% Interest. Once the user will repay the loan sum, BrotherlyLend will release funds for the user or he can take out another loan. This beautiful and effective platform is not live yet, but very close to launch. Once it will get live the world of cryptocurrency will change.

This platform will make cryptocurrencies more practicable in the real world. Users with valuable cryptocurrencies will have a way to use their digital coins for different benefits without leaving their investment position. Besides this, borrowers will also enjoy loans without any interest and with only a small fee for a big sized loan.

BrotherlyLend

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Brotherlylend is the new innovative and revolutionary secured lending platform, which allows everyday people with investments in cryptocurrency to take out loan

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