BankSocial: First Peer-to-Peer Lending Platform Launches on Ethereum Blockchain
DALLAS, TX / ACCESSWIRE / May 27, 2021 / BankSocial has launched the world's first peer-to-peer social consensus lending platform to be secured by the Ethereum blockchain. BankSocial's community driven approach to borrowing aims to replace antiquated lending practices by rewarding staked community members for financing loans. Utilizing first-of-its-kind advancements in blockchain technology, BankSocial's peer-to-peer lending platform aims to begin issuing loans in 2022.
BankSocial's innovative funding network continually creates value for its members, known as token holders, and will utilize BLOCKSCORE technology to determine borrower credit worthiness. A borrower's BLOCKSCORE will be used to determine their eligibility to receive asset-backed loans for home mortgages, automobiles, small-businesses, real estate, and other collateralized lending products. BankSocial token holders will approve loan requests through a next-generation tokening consensus system, truly decentralizing the lending system.