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AssetStream Creates Trust and Security between Borrowers and Lenders

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AssetStream Creates Trust and Security between Borrowers and Lenders
Source: AssetStream

The beauty of blockchain is that it’s steadily making its way through communities and now seeking to engage 1.7 Billion unbanked productive individuals through making funds accessible to micro, small and medium enterprises.

By using blockchain technology for microfinancing, AssetStream will create a layer of trust and security between borrowers and lenders. It is a new paradigm of the finance business to connect with the individual lender while enabling a new source of finances for small enterprises to fuel global economic growth anywhere, anytime.

With 139 million clients and a credit portfolio of USD 114 billion in 2017, microfinance has reaffirmed its position as a key tool in the financial inclusion of marginalized populations.

The global microfinance market is anticipated to witness steady growth over the forecast period [2017 to 2025]. This growth can be attributed to the rapid rise in the number of small and medium enterprises [SMEs].

Developing markets will drive expansion, a trend expected to continue until [and perhaps beyond] 2022, by which point the IMF expects annual growth for this group to have reached 5%.

Why is AST [AssetStream Token] bound to be mainstream?

Microfinance is not only another asset class but also a powerful contributor to the alleviation of global poverty. By maximizing their social and financial performance and preserving a focus on the low-income clients they were created to serve, AssetStream seals the gap for an attractive and underserved market opportunity and intersects with their specialized expertise.

AssetStream will create their own rating criteria and it will be divided into a personal loan and business loan. Lenders will sift through available “Loan Contracts” manually and can opt for the automatic system through AssetStream autonomous matching system.

AssetStream will scrutinize all credit ratings for SMEs as the loan will comprise of a higher amount. Some features include the following:

  • The manual method for lending consists of a lender handpicking a loan application from the platform.
  • In an automated lending process, the lender sets up a certain criterion for his ideal loan and the system will find projects that match and are in the fundraising phase.
  • Examples of criteria are minimum credit rating of the borrower, minimum interest rate, maximum duration of the loan, maximum lend out the amount.
  • Automated matching is not yet available. It is still under development
  • The credit rating of small and medium enterprises will always be done manually but for individual borrowers, it will happen automatically.
  • If individual borrowers are not satisfied with their credit rating or they can choose for a manual credit rating. This manual credit rating will have a fee in ASD token.

What’s On the Horizon

Small scale producers who may be using only hand tools to make furniture, metalworking or small scale food production will see their daily output increase permanently not by 10% or even 50% but by many times after purchasing simple pieces of equipment like electric saws, sanders or larger stoves and ovens.

At the same time, for such producers, the cost of the equipment and therefore the interest burden can be an insignificant part of their total expenses.

Up until the turn of the century, financial institutions did not see value in serving those at the bottom of the economic pyramid. They couldn’t see how 1.7 billion people could translate into meaningful profits. But AssetStream is ahead of its time. On the blockchain.

AssetStream Highlights

AssetStream recently signed an MOU with Max Property Group [MPG], an international property investment company. Max Crowdfund is a crowdfunding platform and together with AssetStream, projects on massive numbers of their communities to support direct integration of their blockchain platforms.

250+Million Members applaud as the English Learning platform English Forward entered into an MOU with AssetStream to access microfinance resources for its teachers and learners community.

Finally…

AssetStream’s full beta platform is live and ready. The platform’s transactions are on the blockchain. To know how the whole ecosystem works, see the demo on the website now.



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Guest Post

Passing the test with flying colors: Securing employee accreditation through Blockchain

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Passing the test with flying colors: Securing employee accreditation through Blockchain
Source: Lition

In today’s fast-paced world, businesses need to ensure their employees are well versed in relevant technology, regulations, and practices. Top-notch training programs are vital for keeping employees up to date and at the top of their game. But unfortunately, current certification methods aren’t airtight.

Online certificates for successful completion of education programs are often issued on PDFs, which extremely vulnerable to falsification, theft, and duplication. 

And that means company leadership and customers can’t always be certain team members have completed all necessary training and received the proper accreditation.

Luckily, all this is about to change thanks to ERC721 tokens and recent developments in blockchain infrastructure. As an example case study, E-learning provider Lawpilots is collaborating with a blockchain infrastructure firm Lition to finally deliver secure employee accreditation certificates.

By deploying ERC721 token certificates, education programs can kiss vulnerable PDF certificates goodbye forever. By storing certificates on a private blockchain, documents are able to be secured and made available to relevant parties without putting the certification’s authenticity at risk.

However, not all blockchain platforms are created equal, and any platform up to the task must be able to secure certificate on the chain while allowing the data to be deleted when it is no longer relevant.

Let’s take a glimpse into the future of document sharing and security.  

In this kind of system, when a user completes a training module and receives their certificate, they can then upload the certificate to a private sidechain on the network, securing the record. 

The certificates could then be shared upon request with relevant individuals or organizations to prove that the user passed the course. Counter-parties could easily connect to the private sidechains to inspect documents, with access limited to specific time frames or the maximum number of clicks if necessary. 

Many certifications expire after a set period of time, requiring the user to partake in further training. While most blockchain networks are immutable, and therefore would leave expired records in the system, a deletable blockchain infrastructure could be set up to automatically destroy certificates after they are no longer valid. 

Deletability would also give users control over their personal data while guaranteeing enterprises that their systems are GDPR compliant.  

Lawpilots chose to work with Lition precisely because of their novel public-private deletable blockchain infrastructure, which allows enterprises to take advantage of an uncompromising blockchain network and delete data when necessary.

Through this kind of architecture, education companies and their clients could guarantee their employees receive and are up to date on the latest training, helping their businesses run smoothly and protecting themselves from legal vulnerabilities.

The implications of this technology cover countless industries. Nearly every type of business needs to be able to eliminate counterfeiting and provide document security.

Think of all the sensitive information we pass around on PDF that can be easily tampered with or duplicated. Transcripts, university degrees, bank statements, real estate records, healthcare information.

 The list goes on! Isn’t it about time the world doubled down on document security and stopped relying on PDFs that are clumsy, easily doctored and insecure?

Dr. Richard Lowhasser, Lition CEO

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