Steemians,
I wanted to share my recent news that I came across one of the best new ICO’s and wanted to share my knowledge with you. I attended a NYC Blockchain Meetup on February 28th, 2018 that was sponsored by Celsius. The group discusses the latest trends and events regarding Blockchain technology.
Celsius is an ICO that offers more potential then any other ICO on the market. It’s a blockchain-powered global credit network. It’s a P2P decentralized credit protocol built using smart contract technology. Their ultimate goal is to “create a modern platform for peer to peer lending, develop a protocol to enable the next generation credit ecosystem, powered by a world-wide community of members.”
All of their platforms are built on Ethereum smart contracts. Celsius is not the only company that is trying to reinvent the global lending industry using blockchain technology. Although, they promise to provide the best experience for lenders and borrowers and offer good returns for their lenders.
How does Celsius Work?
The lenders and borrowers of Celsius are selected carefully as they interact on the top of the Ethereum blockchain. The advantage of this is that it allows the contributors to communicate with friends, family, colleagues, and other token holders. The group is focused towards targeting Millennial's as they are constantly struggling to receive any type of credit lending programs.
Celsius is a platform that focuses on credit scores and legacy data are posted on the blockchain. This allows the data to be created for each client digitally. Their digital identity will include their digital footprint. The goal of this identity is to encourage the participants to have lower loss factors and higher on time payments. Ultimately, they will have higher credit limits, and lower interest rates, which will allow the experience to be easier for the borrowers and beneficial in the long-run.
On the platform members can lend to other members and earn higher interest rates then any typical bank process. While the borrowers have the ability to pay lower interest rates then an typical bank loan. Overall, by using this blockchain technology is reduces any risk of high fee’s so both parties are content.
Now your probably wondering how can you be sure that lenders are giving their money to the best possible borrowers? Well, this platforms gives each user a credit score based on their digital identity. Furthermore, the users have the option to upload their FICO credit scores and previous transation history on websites such as Amazon.
What is the cost of this ICO?
As of right now Celsius crowdsale officially begins March 15th, 2018. The company has already raised $30 million in the a pre-sale for the accredited investors. All money collected in the ICO will be used to form a general pool of money. This will create an initial base of capital lending for the organization.
The Degree token itself will be used as a utility or membership token. It won’t be used as a security or in-platform currency.
The company was founded by Alex Mashinsky. He also started GroundLink, Transit Wireless, Elematics, and Arbinet. He’s an extremely impressive entrepreneur. Celsius currently has offices in New York, Tel Aviv, London, and Belgrade.
If you are bullish I would highly look into researching this ICO now before the pre-sale ends!
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Celsius Website: https://celsius.network
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