Many start-ups, which offer financial services through blockchain technology, are still trying to come up with more ideas to help others get the loans their businesses deserve.

Blockchain is the heart of that process because everything, in the end, comes down to currency. Bitcoin and other cryptocurrencies are already solving many financial issues. Now, blockchain is also able to provide enough security to assign assets.

This technology first emerged in 2008, during many financial scandals. Today, it is altering all sorts of lending, and they are even implementing it in Main Street and Wall Street.

However, P2P platform popularity is still growing. In 2017, the UK announced that these platforms facilitated over $3.3 billion of loans. There is a high chance that this number will increase in 2018 - and blockchain is participating in the growth.

P2P platforms have already made a difference in the market. This especially applies to different borrower groups, such as small businesses. The blockchain lending technology allows them to borrow the necessary funds that will enable them to progress further on the market. In addition, people who cannot access banking services, or even get loans, can now access credit. Thus, blockchain technology is here to stay.

FintruX: From insecure to secure loans

This company is already well-known in the online finance space due to their credit adjudication platform, which they created in 1994. In addition, they only collaborate with reputable funders. Because of that, they can participate in the creation of a new lending marketplace. It will involve an automated platform that will approve credit enhanced P2P loans.

FintruX Network is a pioneer in the blockchain-based unsecured lending. It helps users connect to reliable lenders, and obtain the necessary funds for their businesses through servicing agents which are creating and configuring smart contracts.

This credit enhancement allows borrowers to improve their credit score. Participating lenders are reassured that they will get their money back. Meanwhile, they are also over-collateralizing the loans and using third-party guarantors for further insurance.

FintruX sounds like a digital version of the perfect bank. And, it may well be one. However, that’s not all they can do. Their platform uses a system token which you can use for fees, tracking, authentication, and payments.

Benefits of the P2P Lending Market

The blockchain technology can resolve many market issues and challenges:

  • It can help small businesses obtain the necessary loans. Cash flow is often a problem for them. By helping them get the funds they need, blockchain technology can lead to economic growth.

  • Current lending systems are ill-suited for borrowers. The traditional banking system requires them to pay expensive fees. This can substantially lower profits, especially when it comes to small businesses because they are often unable to navigate the system properly.

  • Limited options for the lenders. Most of them don’t have access to evaluated loans. Furthermore, there isn’t a legal structure that can allow them to participate in the lending procedures. Because of that, loan capital is not available on the lending market.

FintruX Platform Advantages

Due to these market demands, it was vital to create a platform such as FintruX. Here are some of its benefits:

  • Borrowers can access affordable credit. The system is transparent to both parties involved, and borrowers can even create a loan history. They can quickly obtain loans without using an intermediary.

  • There is a risk reduction for the lenders. Just like borrowers, lenders can also create an online reputation and build a network. Furthermore, they can obtain returns without upfront fees.

  • They are collaborating with multiple trustworthy agencies and guarantors.

  • You can validate, collateralize and pay with special tokens.

How does the platform work?

Small businesses can easily get a loan through the FintruX Platform. For example, if you need $20,000, you can register on the platform and start your pre-approval process. The system will over-collateralize the amount, so you can request $22,000. Once you select your interest rate and payment schedule, you will then have to answer a few pre-qualification questions. Afterward, your loan is pre-approved, and you can start looking for a lender.

Once you find the investor of your choice, the platform will transfer the loan to your bank account. If you pay it back on time, you will keep the additional $2,000.

Token Sale

Next FintruX token sale will begin on February 7th, and it will last until February 28th. The sale target is $25 million, and you can buy 1,500 FTX for 1 ETH.


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