Why Fintrux is better than other lending platforms

Lending platforms that leverages blockchain technology and smart contract offers a consistent, shared and secured processes.

But how does smart contract works?

Smart contract is an automated contract that removes the existence of services of a middleman. It can helps on exchanging money or anything valuable in a decentralized and transparent way.

There's no need to get the services of intermediaries to confirm transactions.

Documents are encrypted on a shared ledger by using the blockchain technology and it will save you money since it's knocking out the middleman in the scenario.

SALT, ETHLend and Lendoit is one of the lending platform using blockchain smart contract.

SALT lends in fiat currencies. It is a centralized loans platform for loans amount

higher than US$5,000. It uses the smart contract only for depositing crypto currency as collateral. Their target market is borrowers with cryptocurrencies who don't want to liquidate into fiat. Only Accredited Investors and qualified financial institutions can become lenders on SALT.

ETHLend uses tokens as a collateral, ETHLend is a fully decentralized peer to peer lending platform using smart contracts on the Ethereum blockchain for lending Ether. ETHLend does not generate score and does not have any compensation funds to protect lenders.

Lendoit is similar to ETHLend but it adds borrower scoring, reputation, collector and 2% from the crowdsale as compensation fund to protect lenders.

Why FintruX is better than SALT, ETHLend and Lendoit?

FintruX Network is a fully decentralized peer to peer platform generating and deploying one unique smart contract on the Ethereum blockchain for each individual lending.

For unsecured loans, it uses credit enhancing tools such as over collateralization,

guarantors, cross-collateralization, and 5% of all FTX tokens to significantly reduce risk for lenders.

FintruX target borrowers are small businesses, especially startups, who wish to take advantage of lower rates offered by our platform because they make unsecured loans highly secure. FintruX aims to serve to the underserved.

Specialized agents on fraud, identity, credit scoring and decisions are partners in this ecosystem. Only accredited investors and financial institutions can become lenders on phase I of FintruX Network.

FintruX is decentralized applications powered by Ethereum and

no-code development. It enables smart contracts to be generated and deployed in real-time for the borrowers, without coding.

The FintruX Network has the latest technology advances in blockchain and through smart contract, they will make a binding agreement between the participants - unambiguous, immutable and no arbitration required.

They have a transparent open ecosystem. They are partners with rated agencies such as identity, KYC/AML, credit scoring, credit model, and payments to provide lenders a wide variety of choices to adjudicate their loans. These agencies all play a role in the instant matching of our lenders and borrowers.

Fintrux financing focus on making unsecured loans highly secure where the lenders can select lending package, borrowers instant matching, credit approval, fraud and identity verification and application of smart contract and blockchain technology.

There are hundreds of marketplace lending platforms out there, but FintruX differ in that they enable borrowers to borrow at a significantly lower rate at ease and lenders lend with confidence in no time at all and with transparent open ecosystem, they will give more freedom in the hands of the people.

To know more about Fintrux Network, visit their website: FintruX website

Source: Whitepaper

Click here to know more about FintruX ICO : Token Sale

Authored by:

Bitcointalk profile: @imdada

Disclaimer: I am not a financial advisor. It is not intended to be investment advice.

I do research and reference the sources that I use within my writing. This is my personal views and opinions and is for information purposes only.