Cryptocurrencies and fiat (more easily understood as day to day spendable money) have a lot in common; characteristics that were once solely attributable to physical money are now also shared by cryptocurrencies, so it is a natural occurrence for experts in fiat or physical money to be interested in the cryptocurrency space. Banks and other financial institutions are tapping into the blockchain and smart contracts technology to create a unified and transparent financial environment.
Be that as it may, the gap between this two types of monies still exist. Despite the rapid growth in the popularity of cryptocurrencies, their use in everyday life remains somewhat limited due to Various reasons, ranging from fluctuations in value of cryptocurrencies, to interoperability between crypto and fiat mechanisms. The project am reviewing today aims to, amongst other things, bridge the gap between crypto and real life currencies by creating tools such as crypto backed loans, which will help make cryptocurrrencies more acceptable and ultimately drive the mass adoption of cryptocurrencies in general.
INTRODUCING VIAZ
VIAZ is a decentralized application running on the Tezos blockchain. It is a decentralized platform that taps the global decentralized environment and uses smart contracts and distributed ledger technology to automate and make transactions easier on it's platform. Services offered on the platform includes crypto backed loans and home backed loans. Viaz looks to take out the hole between the loan specialists and borrowers of cryptographic assets of money and fiat and in doing such, make the cryptocurrency ecosystem favorable for both cryptocurrency and fiat users. In Viaz you can borrow fiat loan by collateralizing crypto, Viaz don't check your credit score before providing you a loan, There is a fixed and economical rate of interest all around the world, In the near future Viaz going to provides Home-baked loans and, Unsecured loans. As Viaz platform will be based on Tezos and exploit the progressed DPoS convention and brilliant contract layer. Viaz will utilize a blend of various dialects to build the Viaz platform and use various "accepted procedures" to guarantee our stage is secure and productive, "Viaz" will issue cards for borrower which can be used across anywhere in the world.
THE CONNECTION BETWEEN VIAZ AND TEZOS
You may be wondering why the Viaz team chose to use the Tezos blockchain. Let me just touch a little on the Tezos blockchain so as to help you see that the Viaz team made a good choice. The Tezos blockchain project that is revolutionizing blockchain technology through its on-chain governance that promises an innovative self-amending distributed network. Tezos is a permissionless network that improves previous generations of blockchains such as bitcoin and Ethereum. Tezo started its ICO in 2017 and was able to raise $232 million dollars towards the development of its blockchain and management. Tezos is a new blockchain that explores new ideas and systems to deliver a safer, more robust chain. Built on OCaml, a functional programming language used for other financial based projects, Tezos implements a delegated proof of stake consensus method. This is more power-efficient and provides a stronger consensus mechanism than the proof-of-work (which is currently in use by Ethereum and Bitcoin). VIAZ plans to tap on the technology provided by Tezo towards developing its platform on the Tezo blockchain and make use of this features such as Tezo smart contracts and distributed ledgers towards providing the first peer to peer lending platform on Tezo blockchain.
ADVANTAGES OF VIAZ
🔅NO FEES
Clients are not required to pay any join, month to month or upkeep charges to Viaz. The platform will produce pay for itself by deducting a little rate from the enthusiasm on all advance reimbursements.
🔅SECURE
The Viaz platform works on the Tezos blockchain organize that is monetarily secure, as it records every one of the exchanges on its record that isn't alterable or open by outsiders. Also, Viaz gives clients a cryptocurrency and fiat wallet that makes it workable for them to safely store their assets, deal with their portfolios, and exchange reserves.
🔅AVAILABILITY
The day by day tasks of the Viaz platform are increasingly available contrasted with the conventional loaning frameworks, as its highlights are perfect with IOS and Android working frameworks. In this manner, clients can utilize the Viaz versatile application from their gadgets for nothing out of pocket.
🔅NO TAXES
Contrasted with the present loaning frameworks and organizations, Viaz will be less expensive as borrowers won't need to make good on government obligations on the obtained cash.
🔅HAZARD FREE
For borrowers to post advance demand on Viaz, they should vow a specific measure of guarantee. This shields the loan specialists from the danger of losing their cash in the event that they default.
VIAZ DEBIT CARDS
Interestingly, Viaz offers Debit card services. Debit cards, as we know, are a secure and
convenient method for VIAZ users to access their funds. For example, when a user obtains a loan via the VIAZ platform they have the option of accessing their funds without the hassle of a wire transfer to a third party institution. Users will not have to wait days for their funds to clear and can avoid incurring wire transfer fees by utilizing the debit card feature.
THE VIAZ TOKEN
The VIAZ Tokens are the native token of the VIAZ Platform. Token holders are rewarded with monthly airdrops based on their participation in the following Platform Related Actions (or “PRAs”):
Using Tokens as Collateral for Loans:
We want to allow users to utilize their Tokens as collateral for loans on the VIAZ Platform. To incentivize this activity, Token-backed loans will incur a reduced service fee (currently this is a 50% discount, although this may change in future). The use of Tokens as collateral will also reduce the available supply of Tokens on the market.Selling Tokens Through The VIAZ Platform:
VIAZ Platform loan repayments are made of three elements, payment on the principal, interest payment and a service fee. The interest payment and service fee must be paid in Tokens (at the fiat equivalent value at the time of the repayment). This generates a demand for Tokens, as borrowers will need to own and/or acquire Tokens to meet their monthly repayments. To assist with this, the VIAZ Platform will allow Token holders to create sell-offers. Users will be able to set the desired price (in USD), and stake any amount of Tokens they wish. This provides instant liquidity, now borrowers are not burdened with the hassle of having to acquire Tokens; they can simply make the full repayment in fiat, using the VIAZ Platform to automatically acquire the required Tokens behind the scenes.
TOKEN INFO
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TEAM
ROADMAP
IN CONCLUSION
It is paramount that any given project focuses on crafting and developing solutions to preexisting problems facing that industry. Viaz aims to make a market driven platform conducive for crypto and fiat loyalists alike. Billions of people globally do not have access to banks. The VIAZ Platform aims to provide provides them with the opportunity to take advantage of this global network of lenders and borrowers from the convenience of their own desktop computer or smartphone.
Please note that the summary I've given above can be likened to a grain of sand in a seashore when compared to what the Viaz Whitepaper holds. Do well to consult the whitepaper and/or the other links provided below.
Website:
https://viaz.io/
Whitepaper:
https://viaz.io/documents/Viaz-Whitepaper_EN.pdf
Twitter :
https://twitter.com/ViazOfficial
Facebook :
https://www.facebook.com/viazofficial
Medium:
https://medium.com/@ViazOfficial
Reddit:
https://www.reddit.com/user/ViazOfficial
Bounty0x Username: echoe2k4
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