What Is VIAZ?
VIAZ is a decentralized application (“DAPP”) running on the Tezos blockchain. It seeks to eliminate the gap between the lenders and borrowers of cryptocurrencies and fiat and in doing so, make the cryptocurrency market conducive for both cryptocurrency and fiat enthusiasts.
Additionally, Viaz aims at helping billions of people worldwide who do not have access to banks by providing them with a means to take advantage of the global network of lenders and borrowers available on the Viaz network from the convenience of their mobile or desktop devices.
Currently, the boundaries that exist in the traditional banking space have made it difficult to create a middle ground between cryptocurrencies, fiat, and equity. However, Viaz will break down these barriers and connect digital assets, equity, and fiat in ways that were previously deemed impossible. This will result in the creation of more global connections and empowerment of individuals to take control of their financial destinies.
How VIAZ Tezos Peer To Peer Blockchain Funding Platform Works
Viaz seeks to encourage its account holders to borrow fiat or crypto through using their tokens as collateral. Initially, Viaz tokens and Tezzies (“XTZ”), the native token of Tezos, will be the only accepted collateral. In the future, Bitcoin and various altcoins will be added to the platform.
Once a borrower posts a loan, a smart contract is created by the platform and the loan is recorded on the Tezos blockchain ledger. Lenders will then have the chance to bid on the different funding opportunities depending on the interest rates. In cases where the lender wants to fund the loan at higher interest rates, they can do so and earn higher interest rates. The loan repayment by the borrower will be through the Tokens of the Viaz platform.
Viaz automatically issues users with a fiat and crypto wallet once they sign up on the platform. Through the wallet, users could manage their portfolio and transfer funds on or off the Viaz decentralized platform.
The daily operations of the Viaz platform are more accessible compared to the traditional lending systems, as its features are compatible with IOS and Android operating systems. Therefore, users can use the Viaz mobile application from their devices free of charge.
The Viaz platform operates on the Tezos blockchain network that is financially secure, as it records all the transactions on its ledger that is not alterable or accessible by third parties. Similarly, Viaz provides users with a cryptocurrency and fiat wallet that makes it possible for them to securely store their funds, manage their portfolios, and transfer funds.
Compared to the current lending systems and institutions, Viaz will be less costly as borrowers will not have to pay taxes on the borrowed money.
For borrowers to post loan request on Viaz, they will have to pledge a certain amount of collateral. This protects the lenders from the risk of losing their money in case they default.
Users are not required to pay any sign up, monthly or maintenance fees to Viaz. The platform will generate income for itself by deducting a small percentage from the interest on all loan repayments.