DeFi, What the future holds for waykichain.com
For marketing, especially after the ICO is over, providing a utility is the most important thing. People using the coin for the utility brings adaption. Waykichain has payment utility, especially dAPPs, and now DeFi.
There are a lot of competitors on the market, and although DeFi is fairly new, there should be something that sets waykichain apart from the competition. A good innovation brings competition to its knees because users tend to flock to the new and the best.
One way to be competitive is to give out the highest interest for lenders or have the lowest interest for borrowers. It is hard to do both, but it can be done with lower profit margins and higher volumes. loanscan.io is a website that tracks borrow and lend interest rates, so it would be in the best interest of a decentralized finance company to get into that website to get a hold of users following it. Similar websites that advertise interest rates can be helpful for marketing. As people see waykichain on this and similar websites, they will be more willing to trust and use the waykichain platform.
Another innovation can be to get online gold/euro/silver/petroleum as collateral. Waykichain can collaborate with bullionstar, a company from Singapore and other companies that do a similar job. They hold physical gold and you can tokenize it, and anyone can track that you are holding gold online. They have been around for years, and many other companies use them as a tool to tokenize gold.
A harder, but a jaw-dropping innovation could be to provide reputation based interest. In that, waykichain can provide decentralized interest based on the reputation of the person getting the loan, similar to what banks have today, with FICO scores: https://www.myfico.com/credit-education/credit-scores
As a person borrows and pays his/her money back, he can get larger loans, and the decentralized reputation would be the basis for a person getting a loan. Placing reputation as collateral is a good example and it can be implemented with a DeFi project such as waykichain. This would especially work in countries that use microcredit such as Malaysia and India. P2P finance in the DeFi world is another interesting idea and it can be implemented along with arbitrage among different countries with different interest rates.
The last but not least innovation could be to create a halal decentralized finance platform that would satisfy Muslim conditions for borrowing and lending. Here is a piece of news for such efforts and it shows that there is a need for this:
https://news.bitcoin.com/iran-turkey-malaysia-discuss-creating-unified-muslim-cryptocurrency/
There will be companies that will jump at the chance, and it seems to be an open field for now.
Providing futures contracts within the DeFi system could also be a good source of income for any DeFi project. The derivative business has a huge volume, especially in developed countries, and getting a piece of the pie would help waykichain in other areas as well.
Website: https://waykichain.com/
Twitter: https://twitter.com/waykiturk
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Facebook: https://www.facebook.com/waykichainofficial
Youtube: https://www.youtube.com/channel/UCjudZhgPcAX74LVxi23kKvg
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