Ninjastic
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Re: [ANN][ACX] 🗺️🌍🌐 Access Network - Decentralizing Financial Inclusion 🌐🌍🗺️
by
Lognak
on 20/03/2018, 10:29:34 UTC
Quote from: Vindizzle on March 20, 2018, 10:03:23 AM
Quote from: Ajutokintumi on March 20, 2018, 09:08:51 AM
Quote from: oxhodler on March 19, 2018, 06:52:33 PM
Quote from: Calvireish on March 19, 2018, 04:05:23 PM
Who will set the interest on the amount that agent lend, will it be done automatically, same interest for everyone?

Atlas is charging 5% per month right now (compared to 8% for other providers in Ghana) but with the Access loan dapp, we will be able to connect investors and borrowers which will set their own terms.

5% is really affordable,and ok amount,that should deff help ACX to spread fast.

But if everyone can set thier own interest %,that means loan sharks could start using ACX.Or there will be some way to stop that from happening?

But if loan sharks are offering loans, how can you actually prevent this? KYC will make sure you know that it's secure but other than that I don't think that the app can prevent such situations.