What is the main idea of Loan Bit platform?
LoanBit is P2P-lending platform with safety fund for partial insurance of loans granted on the platform. There investors and borrowers meet each other and have the opportunity to lend money without collateral.
Without collateral? How they realize that?
Hi. Thanks for your question.
Yes, we will work without collateral. At first, it will be ecosystem based on mutual respect and mutual trust. Everyone knows that there are a lot of persons who always try and trespass. To avoid this and minimize investors risk LoanBit platform will verify all loan application. There will be Safety fund if worse comes to worst.
Can you explain please, how that mutual respect and mutual trust will form. Will it be something like trust rating for every member?