Review on LinkEye by Pedro O. Alvino M.
Hyperledger Fabric-based project for credit loan systems
Started in 2017, LinkEye a project that is based on the credit loan system, especially aimed at the European and Asian continents, given the great potential of the traditional credit system, so that in conjunction with blockchain technology, claims to provide a reliable credit data system, in addition to reducing the time and costs of this process by facilitating the mechanisms of credit systems.
Composed of a series of mechanisms, in total eight mechanisms that comprise the operation of LinkEye, which are based on preventing fraud within the ecosystem, information exchange and an intelligent pricing mechanism within the platform.
The platform being based on the Ethereum network, scalability can be a problem in terms of execution of contracts and transactions in the LET token, which is essential in the LinkEye ecosystem, in addition the project is in a phase of abandonment, since Implementing this series of systems can take time and the current competition in the market is very fierce.
Pros
- Structured with a series of mechanisms that allow a loan environment without fraudulent and transparent actions among users.
- Uses the combination of symmetric and asymmetric encryption to safeguard data
- It has P2P protocols and smart contracts.
- The team behind the project is made up of professionals with experience in the loan and credit market.
Cons
- The economy of the project token is highly deflationary.
- Very little community behind the project.
- Implementing these credit loan mechanisms will take time for the Asian and European population, due to the high rate of misinformation about the blockchain.
