Loans are a growing market in the crypto space and appear as one of the most promising applications of blockchain technology. Thus, lending projects can look like a oversaturated space. But when you take a look about it, have any projects delivered until now ? A decentralized lending project is difficult to execute, which is why I want to share my thoughts about Libra Credit.First, what is Libra Credit ? Basically, the team wants to build a decentralized lending ecosystem thanks to :A network of partnerships with insitutionnals, private investors and stablecoinsAn AI-based credit assessment frameworkImplementation of various operations ; crypto to fiat loans, crypto to crypto loans, crypto to stable coin loans…The team :As I said, this kind of projects are tricky to execute, and that’s why I think this project is promising : their team is one of the strongest (if not the strongest) I’ve seen since I’m investing in this space.Lu Hua, CEO & Co-Founder, was a senior executive in Paypal (Head of Core Payments for PayPal China and Head of Global Banking Platform for Paypal US). He has also a strong entrepreneurship experience since he has bulit a loan company in China (moKredit) with 30M users.Dan Schatt, COO & Co-Founder was also a top executive of Paypal as General Manager of Financial Innovations, and has also experience in fintech companies.Howard Wu, Chief Scientist, was Software Engineer at Google. He’s a recognized blockchain expert with a position of Advisor of Blockchain at Berkeley.Scott Thompson, advisor: CEO of Tuition.io, former CEO of Yahoo and former President of PayPalAdvisors from top VCs (FBG Capital, Danhua Capital)These guys have the skills to get shit done. The team is obviously a huge plus, but here’s a quick general summary of the pros and cons of Libra imo :Pros :These guys know what they are doing, they have a strong experience in lending projects : Libra CEO has already built a loan company in China (moKredit) with 30 million users.ex-CEO of Yahoo is advisor (the guy has his own Wikipedia page)Already have 50 people working full time on the projectAlready working MVP at https://ift.tt/2Iy8yx4 - you can take out a loan right nowThe project has well-connected Chinese financial backers who should ensure a quick exchange listing and market makingICO whitelist had to close early due to demandPublic ICO hardcap was reduced to only $4m, which should mean unmet demand when tokens releaseCons :Lots of competitors in the lending space (Salt, ETHlend, NEXO, Lendingblock…)Current ICO hype is mostly on blockchain projects right nowRoadmap a bit vague about when and how crypto to fiat loans will be implemented.I’m interested about different opinions on this. Is there something that I missed ? Any weak points to underline ? Let me know, tokens are releasing today.
Submitted May 20, 2018 at 03:32PM
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