This looks interesting but there are already a plethora of non-blockchain micro-lending and small p2p lending services already available that aren't on the blockchain - how does putting the idea of your existing moneybank business on the blockchain help the consumer, lender and investor?
As an aside, I wouldn't underestimate the power of enthusiasm. As Ivern Ball once said "Knowledge is power, but enthusiasm pulls the switch"
Great question and comment - thanks!
The non-blockchain microlenders and P2P players are tapping into a huge underserved segment, and its massive demand far exceeds their financial and technical capabilities. Globally it is still a fairly non-competitive space and will remain so for the next 5-7 years. China is the only market it is really tough in terms of competition. So, we think that existing rivals isn't a threat in this nascent industry - tehre is enough room for growth for all!
As an example, banking is a much older industry and more competitive, yet quite a few non-blockchain and blockchain startups have been trying to disrupt banking industry over a decade or so, and still, haven't gained significant market share. Yet a lot of VCs and ICO investors poured money into these startups and still believe in their future.
Sorry, forgot to answer on the question about use of blockchain and how it helps the users. Microlending P2P industry has two biggest growth deterrents: 1) access to funding because microlenders are not allowed to take deposits and 2) lack of technological sophistication required to process large volume small size transactions efficiently and mitigate risks using data science and machine learning, etc. We want to tackle both problems by leveraging on blockchain technology to provide a high level of data integrity to build trust between lenders and borrowers from different countries, which is hard to do without decentralized transparency blockchain brings. Access to global funding adds value to Lendex business model and i.e. to the investors while providing the possibility to lenders from developing countries to invest in the high yield diversified portfolio. Borrowers get access to user-friendly service and get online loans at good rates because of automation and cutting off the loan sharks, and they also can build the credit rating/ repayment history that becomes transparent for other lenders through the blockchain.