INTRODUCINGDepository Network is the first blockchain-based banking platform in the world that allows receiving digital assets as collateral. Through the solutions offered by the Depository platform, it enables the lending system to work in the safest and most secure way, because of the smart-contract system used to secure transactions by lenders and borrowers. It is thus expected that through the Digital Asset Depository platform can be widely used in lending systems around the world.
Getting Started DevelopmentBefore humans know the financial system as it is today, people are still using the means of exchanging goods to meet their needs. Jack Weatherford in his book "The History of Money" (1997) said the first money discovery in the land of Lidya in ancient Greece about 1000 years before Christ. While Donald B Calne in his book "Rationality and Human Behavior" (1999) the origin of money was already there 6000 years ago. From these two data, we can conclude that people already know the money is more than thousands of years ago until in the end the money has been known as today. With money, people can meet their needs such as buying food, drinks, clothing, and so forth. But there is a time when people need borrowed funds to meet their needs such as buying a home, a vehicle, or an education because not everyone has a lot of money to meet those needs.
Today, there are many lending platforms spread around the world offering low-interest rates and fast processing. Even today there is an online loan platform which is also known as online micro-credit or personal loans online. This type of loan has several advantages that are not offered by banking institutions in general. The most important advantage of online loans is a fast process, both in the process of filing and the process of receiving money. It does not take long to process the requested loan application. Usually, the time required for this process is not more than 15 minutes, then the funds will soon be transferred to your bank account.
But often lenders and borrowers face problems that make them difficult, such as inefficient lending processes, and others. This problem can actually be solved through blockchain technology, which enables the lending system to run more efficiently, quickly, and safely. Blockchain technology enables lenders to be able to deal with borrowers securely, this is because the current blockchain technology already brings smart-contract features. A smart contract is an automated protocol that exists in the blockchain to facilitate, verify, and then execute performance agreements. The smart contract allows users of blockchain technology to fulfill promises that have been determined in digital form without requiring third-party or written documentation.
This is what the Depository Network is trying to develop, the world's first blockchain-based lending platform that allows lenders to receive digital assets as collateral. Through the Depository Network, the lending system can run more efficiently and safely, because the Depository platform uses blockchain technology and smart-contract features to secure transactions by lenders and borrowers. In addition, the Depository platform also allows lenders to be able to receive digital assets as collateral. Thus blockchain assets can be used more widely in lending systems around the world.
Solution's offered by Depository Network
- Decentralization: Depository Network runs with a decentralized system, which allows the platform to run independently without interference from other parties or certain entities.
- Security: Digital wallets with cryptographic security systems and smart-contract features will secure digital assets and transactions made by the lender.
- DEPO smart contracts: This smart-contract has several features such as updates are replicated across participants, authorized participants access data, existence, and validity of the records cannot be denied, reduce cost and risk of using intermediaries, etc.
Target usersMore than 50,000 banks, sub-prime lenders, consumer finance companies, crypto lenders and P2P lending platforms around the world. The goal of the Depository Network is within 7 years to achieve 5% penetration in the global lender market.
In ConclusionDepository Network aims to become the world's first blockchain-based banking platform that allows lenders to receive digital assets as collateral, which will address problems in centralized and inefficient lending systems.
TOKEN SALES - JOIN OPPORTUNITYWith this opportunity, Depository Network invites you to enlarge this Platform to reach the Broader Society. Depository Network will release the Token under the name “DEPO Token”, here is the data.
IMAGE FROM DEPO NETWORK
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