Ninjastic
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Board Announcements (Altcoins)
Re: [ANN][POS][MASTERNODE]⚡️PayDay-Unique global loan mechanism based on blockchain⚡
by
genesiscrypto
on 26/04/2018, 16:45:50 UTC
Quote from: birds_ain on April 26, 2018, 03:09:48 PM
Quote from: bpcguy on April 25, 2018, 11:50:05 AM
Quote from: birds_ain on April 25, 2018, 11:19:40 AM
Quote from: capricorn121 on April 24, 2018, 02:57:09 PM
Quote from: birds_ain on April 24, 2018, 02:45:25 PM
Quote from: capricorn121 on April 24, 2018, 11:01:16 AM
The project looks interesting. If a few questions clarify me a little, I will gladly join. Do I understand you correctly that you will provide banking services using  Blockchain?

Hi capricorn121, thanks for your questions! Let me clear it up for you. We're creating the system that provides services similar to banking ones, but based on other principles: the profit from the loan doesn't go to the bank, but is distributed between the end user who issued the loan/ part of the loan, the KYC partner who verified the identity of the borrower and the Insurance blockchain which insured this transaction. Do you have more questions to ask? I'll be happy to answer them all Smiley
How will the identity of the borrower be checked?  Who will be the KYC partner?

That's a good question. The identity of the borrower will be checked according to the common rules of going through KYC.
did i correctly understand? all  participants will have to do the procedure of KYC. And also specify, now KYC at what stage of implementation?

You can become not only a PoS masternode, but also a KYC masternode. PoS masternode benefits from keeping money on the account. KYC masternode does the procedure of KYC for borrowers and gets interest from all loans issued to that borrower.

Like in a simple example, KYC masternode can do KYC not by themselves but to function as a gateway between PayDayCoin and for example Civic.com

So can you describe how it works? What should I do if I become a KYC masternode?