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Also bear mind that you need to provide "txt"blockchain url where you will be sending your collateral first need to do some little investigation to make sure that coins or wallet not associated with any dark activity.
You mean the borrower has to expose the address where he keeps his potential collateral? Did you work alone on this? Rarely do lenders also act like financial auditors.
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My loan service will be different then many others i want to make it look like more like you dealing with bank.
If so, the borrower had better go to the bank. Your customer dos not have legal protection like a bank, nor does the loan policy that you make have no legal basis.