BLOCKLOAN and Shyft to Improve Blockchain Loans, Credit Data and Banking Ecosystem
Shyft, an international oriented blockchain platform enabling data sharing within a secure & regulatory compliant ecosystem has announced they will be working with BLOCKLOAN. This follows after the two signed a Letter of Understanding to mutually benefit from each other’s area of specialization.
BLOCKLOAN network plays the role of a bank by leveraging the blockchain network, lenders & borrowers can interact directly within the platform. Going forward, BLOCKLOAN will be an important contributor to the Shyft platform through building Decentralized apps & anchoring its operations within this ecosystem.
BLOCKLOAN in Detail
The market approach by BLOCKLOAN is an initiative to fill the existing credit access gap across the globe. Its technology will link digital assets with fiat currencies by creating a bank-like blockchain network. This project is supported by several market players in cryptocurrency with Lodex.co financial markets & AI team amongst top contributors.
Furthermore, the blockchain design enables BLOCKLOAN to carry out speedy transactions and understand the market as soon as it reacts.
The Lodex network is a pioneer Australian based loan auctioning market. This new development has attracted a good number of participants totaling to over 40,000 within a very short time. In addition, the Lodex space has facilitated $400 million auctions attributed from loans in less than a year. Therefore, it is no secret that the loan market could be further improved using the blockchain industry.
“Data security is our number one priority,” said Michael Phillipou, Co-founder & Co-CEO of Lodex. ”We have partnered with Shyft, a blockchain based network building unbreachable data protection for clients worldwide.”