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His response to questions by The New York Times was both self-assertive and incredibly shocking. Laszlo Hanyecz, a software programmer, was surprised how Bitcoins and cryptocurrency business generally has fast grown from a mere ‘virtual coinage system’ to a ‘long-term investment.’ This confession is now a true expression of what MoneyToken truly represents. Rather than stunting cryptocurrencies at the level of borrower-middleman-lender, MoneyToken has revolutionalized the scenario and decentralized the entire system, evolving and a market that creates an immutable credit and lending model.
Why MoneyToken?
Existing platforms (banks and pawnbrokers) that serve to midwife between borrowers and lenders in cryptocurrencies lending systems have not shown requisite capacity that will mitigate risks involved in using cryptocurrencies as collateral in the face of volatile pricing system. On the contrary, what these middlemen end up creating is a breach between the two parties. There is high level of unwillingness on the part of lending firms to accept cryptocurrency, which is largely regarded as a volatile asset, as collateral.
So, Why Not MoneyToken?
In the event that existing models have failed to establish trust, stability, and strong relationship between the lenders and borrowers, then there is the need for an advanced platform that will address such important area of the virtual business. This model should be able to resolve all issues relating to volatility of cryptocurrency and mistrust on the back of blockchain technology. And that is why MoneyToken is the answer.
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What Value Does MoneyToken Bring?
- MoneyToken provides access to credit market and loan facility that have full support from crypto collateral, based on guaranty of mitigated risks.
- It operates on four strata which are choose credit terms, deposit collateral, get confirmation and get credit funds.
- Confirmation of the loan takes within seconds and its automatic, since cryptocurrencies serves as security deposit. And in this wise, whether credit scoring or verification of assets, there is no bottleneck or stringent conditions for accessing the loan facility.
- Parties involved include the Borrower, Lender, and MoneyToken. MoneyToken does not serve the middleman role but rather as an Escrow agent to ensure that a transparent process is run.
- The customer can regulate the loan and its conditions based on the MoneyToken terms. In this regard, customers are given the chance to make deposit of the collateral in numerous cryptocurrency assets. This is in view of lowering any upward interest rate, and thus stabilizes the price of the general fluctuation of the collateral.
- With MoneyToken, customers don’t need to sell their BTC when you are in need of cash or stable currency. The facility provides crypto-backed loans, as well as stablecoin MTC and a service that is not concentrated in hands of a central service provider.
Conclusion
The influence on the crypto industry leaders, investors and miners coupled with its high level of information disclosure, MoneyToken has given it a great chance of success and potential of reaching rational milestones within a short time.
To learn more about MoneyToken, kindly visit the links below
Website: https://moneytoken.com/
Whitepaper : https://moneytoken.com/doc/MoneyTokenWP_ENG.pdf
https://twitter.com/MoneyToken
https://www.facebook.com/MoneyTokenOfficial/
Author's Bitcointalk Profile Link : https://bitcointalk.org/index.php?action=profile;u=1811995
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How is MoneyToken different from other lending tokens such as NEXO, LND and so on?