Goldfinch - New Cryptocurrency Loan Platform

Under the influence of the economic development of states, the credit system acquired a new form, when the first banks came to replace the usurers. Loans have become an integral part of the development of the state economy, as well as small and medium-sized businesses.
With the advent of blockchain technology and cryptocurrencies, the development of decentralized finance (DeFi) began. Decentralized finance is a new financial system that gives users complete control over their assets without government involvement and centralized institutions such as banks.

Decentralized finance is gaining immense popularity among users today. Many different projects are popping up to develop and improve the DeFi ecosystem. And one of these projects is Goldfinch Finance.

Goldfinch is a decentralized protocol that allows borrowing in cryptocurrency without cryptocurrency backing. All modern DeFi lending protocols require more cryptocurrency collateral in order to borrow. It is this shortcoming that prevents a huge number of people from taking part in cryptocurrency loans.
The Goldfinch protocol, using the principle of "trust through consensus", allows users to borrow based on the collective assessment of other participants, rather than on the basis of their assets.

The Goldfinch protocol consists of four main participants: borrowers, sponsors, liquidity providers and auditors. A borrower seeking funding requests funds through a pool from sponsors by submitting an application for review. Then the application is considered by the Auditors. If everything is in order with the Borrower, then the Auditors, by voting, either pass the application or not. For their actions, the Auditors are rewarded in the form of GFI tokens. According to the protocol, Auditors are randomly selected each time to avoid collusion between participants and to prevent fraud at the audit level. The Sponsors then analyze the Borrower Pool and decide whether to issue a loan or not.

The project has very well-known investors and advisors such as Andreessen. Horowitz, Coinbase Ventures, Kindred Ventures, Mercy Corps Ventures, IDEO Colab Ventures, SV Angel, A_capital, Variant Fund, Stratos Technologies, Sybil Capital, Access Ventures, Slow.

For more information, visit the project Discord, where you can view the technical documents:

Discord - http://discord.gg/goldfinch And I also leave links to other social networks of the project:

Twitter -http://twitter.com/goldfinch_fi?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor Website - https://goldfinch.finance/

Telegram - https://t.me/goldfinch_finance YouTube - https://www.youtube.com/channel/UCrun7_MCTulBSMz7NUWDMjw

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