Lendo ICO (ELT Token): Personal Cryptobank Financial Loan Services?
About Lendo ICO & ELT Token
Lendo is designed as an online conventional platform for cryptocurrency lending and exchange through their own blockchain dynamics.
Their mission goal is to expand the Lendo blockchain network to allow for mortgage payments, car loans, house stuff, etc. What’s one of their qualities that sets them apart from the multitudes of cryptocurrency platforms out there? Interestingly enough, they are FSC regulated; meaning that they report to auditing agencies and are validated through those protocols of standards.
Lendo’s Team and Company
Starting from the top, one of the creators and owners of the company is David Honeyman, CEO of Lendo. David graduated with honors from Edinburgh University and has had a long string of success in the world of real estate via equity, bonds and sharing programs.
Next is the Board Director, Mikael Olofsson, who has been in the listings as one of the top insurance brokers of Sweden. His final play in his chapters of nearly flawless Swedish banking institutions was creating a life insurance department. Following that, Mikael moved on to online gaming avenues. Now he owns his own mortgage and lending business.
Ken Tachibana who has been an integral part of previous ICO launches with companies such as Pundi X, Flux, Insure Pal, and more. He has an extensive business background with Netscape, AOL Time Warner and was advisor/co-creator to multiple fiat based blockchain projects.
Gary Grannello, much like Mikael Olofsson also worked within the framework of the Swedish banking systems and has been able to offer sound solutions. He is the COO and is marked as one of the original founders of Lendo.
The next contestant is Paul Lowen, who interestingly enough, studied Physics and Astrophysics at Leicester University. One of his achievements is he was the first to establish a “dot com” website within the U.K. and was able to sell it at a premium price two years following. His profile reveals he is a many of many hats, but is titled Business Development Director, and has many talents and wisdom to offer in the commercial world.
Last but not least is Professor Codrin Vlad, Compliance Manager, whose background developed in promoting and exchanging cryptocurrency. In fact, he is recognized for helping two major businesses integrate cryptocurrency into their exchange rate systems, allowing for versatility and expansion of transactions. Professor Codrin owns and is involved with Ethereum exchange.
Alongside the Executive Board is the Team, -as they have been dubbed, consisting of Digital Marketing and Social Relations, IT Consultation as well as the advisory board for finances, security, blockchains, marketing, etc. The amount of members is quite extensive and can be located on the Team link on Lendo’s page.
Naturally, like all cryptocurrency companies, Lendo developed their own medium of exchange, the Lendo token. Their crypto coin is exchanged through pounds (although according to the website, the company is able to convert all global currencies to Lendo). The blockchains function via the program’s advanced trading system.
Included in the framework of the organization is the smart wallet system which currently is compatible with Lendo tokens, Bitcoins, and Ethers. One of Lendo’s smart wallet features is that it connects to the Lendo Merchant System. The Lendo Merchant System allows for debit card usage in the three-dimensional world by way of Visa, MasterCard, and Discover. Yes, the company does meet the ERC 223 standard with high marks. Alt-coins will be an accessible addition in the future.
In regards to their ICO, the campaign is running for the short duration of March 2018 to June 2018. The company plans to issue 1.2 billion Lendo tokens, which are based on a smart contract stylized by Ethereum. The value runs at approximately .20 pounds (European currency) per token.
In further developments of their blockchain capabilities, Lendo developed a vaulting program for all the tokens and earnings. To ensure that their i’s are dotted and t’s are crossed, the total revenue in the Lendo vault will be audited and recorded by certified accounting agencies. Investors will receive a balances sheet every quarter by the auditors as well as bonus tokens for participating.
If you are a contributor to the ICO pool, you are allotted a 10% payback if you refer others to Lendo. Once the organization receives proof of registration from the referred investor, then you are rewarded with a loyalty kick back in 7 days. Also, when you invest into the ICO at various points in the game, the yield is anywhere between 70 million tokens to 180 million tokens with a bonus percentage of anywhere between 50% – 10%.
Interestingly enough, if a default through the loan process occurs, then the loaner has the ability to repossess the cryptocurrency through the escrow/exchange system Lendo comprised.
It functions in the sense that the lender and the borrower set up a smart contract which enables the exchange and loan of the cryptocurrency. Should the contract standards not be met, then the lender may repeal their allowance. This feature leads to peace of mind for those concerned about the stability of the loan and its payer.
Heads up though; lenders are required to pay a monthly fee for the utilization of Lendo’s software service in order to designate transactions. Circumstantially, this is one of the methods that the company makes its’ money.
The Lendo Initial Coin Offering For ELT Token Verdict
While we’re not experts in the loan and mortgage industry, does the Lendo company seem solid for secure access and meticulous execution of programs?
Absolutely. Will the Lendo token be worth something? Given the industry, our bet is on yes. Tell your friends, increase the value, have a loyalty kickback and potentially over time increase the trickle of financial return in doing so.
The system connects to conventional global banking operations, allows for credit card usage from the main merchants, and gives lenders the opportunity for a short duration rather than long-term contracts in the standard world accompanied with endless amounts of terms on paper. Good for the environment too.