Review on Cred by Pedro O. Alvino M.
Cryptocurrency-backed loan system
Cred is a project that offers the facility to offer capital for small investors and through the LAB token it will offer a loan backup.
According to their operation, borrowers can provide cryptocurrencies as collateral, and CRED ties them with a loan either digital currency or fiduciary from its network of loan providers. The requested funds are sent directly to the borrower's digital portfolio or to his bank account, and need to be repaid with their respective interests within the agreed period.
Pros
- Decentralized Ethereum Blockchain Loan Ecosystem.
- They offer various benefits to borrowers looking to access a fiat currency or cryptocurrency loan.
- Use the AI-based credit assessment framework
- LBA tokens can be used as collateral for loans and can also have greater lending power than users who offer another digital currency as collateral.
- Available in various Exchange the LBA.
Cons
- Other projects already have the same cryptocurrency-backed lending function.
