Good morning to everyone again here in the crypto space and here I am again your Mr. Decentralized giving you guys express news about sensible topics in the blockchain and cryptocurrency projects in our society. I do love spreading the news of different teams and projects innovating something to be useful in our society and removes the burden of financial checks made by banks and other centralized agency.
Speaking of that, I do want to introduce you a decentralized peer-to-peer lending platform wherein people could be able to transact and have funding from different verified lenders worldwide through VIAZ.
Take a look at their website here: https://viaz.io/index.html
Here is a primer video about VIAZ about their prototype
And the summary video of VIAZ as well:
VIAZ
As what I have told you about VIAZ, this is a platform wherein a borrower and a lender meets up online to get decentralized funding for their project in exchange for their cryptocurrency to be collateralized in the VIAZ platform. While the lenders have the power to choose also what project they would like to fund as well in the VIAZ platform and securely be able to lend funding in fiat currency to the borrower and have the cryptocurrency as collateral.
We will go there wherein I would explain up to what I understood based on reading VIAZ's whitepaper and yellow paper as well. Based on what I read, this will revolutionize and improve how we will be able to transact around the world and receive crowdfunding without banks' ridiculous background checks anymore!
4 Main reasons for choosing VIAZ
1. Financially high-market cap blockchain Tezos--> Tezos is one of the most funded blockchains in the cryptosphere and provides robust support with different blockchain communities and programming language. This is why VIAZ platform chose Tezos. Aside from that, Tezos has the 'baking' feature as well which is perfectly aligned with VIAZ in lending because as you Hold Tezos and VIAZ, there is a DPoS or delegated proof of stake. Meaning as a holder of the tokens, you will be rewarded more of it just by holding it on your wallet provided that you registered and voted for a delegate on the Tezos blockchain and that process is "Baking".
2. Tax-free lending and borrowing of money--> With VIAZ, we can be assured that all transactions taking place inside the VIAZ platform as well as the lending and borrowing of money have no taxes whatsoever. How did it achieve something like that? Because this is using blockchain technology. Built by people and used by people. No government agency is involved. Even though, the VIAZ platform is being run by "smart-contracts" or trustless contracts that executes and is being coded by top VIAZ programmers from the team. Making sure there will be no miscalculation and if there are rewards or ranking up in credit score, rest assured that this will be rolled out.
3. Collateralized funding and borrowing--> In the world of business, there are instances wherein there could be a default in the loan of a customer or there are businesses that their earnings could not pay-off the remaining debt or loan executed in the smart contract in the VIAZ platform. How did VIAZ team have a solution about that? Thru collaterals and this is not material collateral but in forms of crypto. Therefore, we rest assured for the lenders that they will get their money in case of loan defaults. This is for first-time borrowers as well but in the future, as long as you go up in credit scoring or the main-lending contract built by VIAZ team, you will know and see other backed loans and even unsecured loans made by the VIAZ team. Extremely amazing!
4. Higher interest rates for lenders--> As an investor, we want higher interest rates on our lent money to different borrowers that is why with VIAZ, you will enjoy as because of the crypto market is swinging up and down, for every swinging of the market, the VIAZ team has specialized artificially intelligent smart contract that assesses the risks of the crypto being held. There will be an LVR or loan-to-value ratio so that if the market swings up, the excess collateral will be withdrawable by the VIAZ team and if the market drops, it will trigger liquidations on the LVR smart contract to maintain the funds secured. Because it has collateral, we would know the performance and the repayments of the person back to the lender. Giving the lenders higher interest rates and because there is no tax as well in this ecosystem, the higher the community can give back as well.
The 3 types of loans targetted by VIAZ and its options for borrowers and lenders
Based on what I read on their Yellow-paper, these are just 3 of the initial launch of the VIAZ ecosystem of financial crowdfunding for borrowers and lenders. More to come!
A.) Crypto-backed loans--> This is the type of funding wherein the borrower of money will give their cryptocurrency as collateral to the fiat money funded by lenders without having to convert these cryptocurrencies to fiat because there are HODLers who just need money or there will be money to come but they just need it for the present. There are different stories for each loan. Hence, VIAZ knows the need for this and materialized it. This loan is the primary market mover and front product of VIAZ.
(These 2 next options are the next plans of VIAZ platform but these 2 are their major project for VIAZ ecosystem as well)
B.) House-backed loans--> This is where it gets excites me. Because as a holder of VIAZ, I could own home using VIAZ as a form of currency because this is the native digital currency of the VIAZ platform. With VIAZ, physical homes around the world could be yours because this is the collateral made by the borrowers in the platform. Or you may also use the default home to be liquidated by VIAZ team and give back the money to you.
C.) Unsecured loans--> This is like the personal loans made by someone from the VIAZ platform that has made a name for themselves as good payers of debt. Therefore they are being rewarded as what I understand to have privileges to have unsecured loans as long as there will be an interest cut already from the loan. Meaning the interest and some form of payments will be out from the principal loan amount and the sum of money being lent will be the money less fees and interest of the lenders who lend money.
Now, let's go to the layers of the VIAZ dApp or the VIAZ decentralized application
Just a quick further explanation of each layer from the VIAZ dapp, I will explain why each layer is important for the VIAZ ecosystem to function very well.
a.) UI Layer--> This is the user-interface layer. This is the layer wherein ordinary people, as well as borrowers and lenders, transact with each other. As we could see in our mobile applications and even desktop websites, we could only see the buttons, text boxes and different colors as well as the well-aligned images and moving videos or images. But this is all made up of different codes made by programmers of VIAZ team.
b.) API layer--> API or the application programming interface is what connects the user interface data with the deeper layer of the VIAZ ecosystem which is the smart contract layer. In this API layer, you could use different mobile devices or laptops to access your data and other stuff. It also interprets and gives the data coming from the smart contract layer to a more understandable data for you and easier reading of your financial statements in VIAZ.
c.) Smart contract layer--> This is where the audits, financial transactions, verification of repayments, interest rates, late fees, loan defaults, liquidation, the closing of the loan, canceling of loan and other financial stuff appears in this layer. This is where the job of the bank, lawyer, or other mitigating or third party agencies got out. Computer codes and smart contracts executing as long as the situations are true, the smart contract will execute. If false which is the Boolean operator for programming, then it will end. Like the closing of the contract if the loan is already fully paid and the interest was paid as well.
d.) Blockchain layer--> Because VIAZ is running on top of the Tezos or Tezzies blockchain, it is where the smart contract layer records and put the transactions in blocks which will be distributed and recorded through the process of 'baking' in the Tezos blockchain. Therefore, the transactions made are publicly viewable for the VIAZ team and people to see how good is a creditor and the lender in this ecosystem in a public ledger. Truly amazing!
Based on what I read on the white paper and yellow paper, the VIAZ platform will be having a Liquidity and fi for their programming language. This is a high-level programming language in the blockchain platform. Aside from that, for their user interfaces for users, they are using HTML/CSS. While for the library of nodes, they will use the eztz .js library which signifies the blockchain protocol Tezos.
Let me show you a sample of the UI or the user-interface of VIAZ on the desktop app and the mobile app from their yellow paper and white paper:
As we move on and progress, I will update you guys of the mobile app version as well. This is truly revolutionizing the financial industry made by this team from VIAZ.
Future plans and roadmaps for the VIAZ community
--> Aside from the 2 loans that I discussed earlier, these are the plans of VIAZ team to make sure this project will continue to grow and have more options for the community.
A.) Insurance services--> We could see the insurance as one of the most important parts of financial literacy because having insurance means you are being covered with what little premium you have maybe a times 10 or times 100 as what premium you are paying for now. Whether it be for health, car, non-life insurance and so on. This is why VIAZ token will be a huge use-case in this financial industry and has a strong usage for this ecosystem. People need it to buy insurance from VIAZ insurance. Holders will surely benefit from it.
B.) Other backed loans--> From cars, gadgets, personal, doctor's loans, and other types of loans could be available in the near future using VIAZ. It's a global online pawnshop for all people all over the globe.
C.) VIAZ debit card services--> VIAZ will be having partnered with one of the biggest debit card servicing company and bank wherein with this card, users can access their VIAZ tokens and spend what is the balance for real-world usage as well just like fiat money. As well as they could access the funds from the lenders in this debit card to get their loan.
Let me show you a simple repayment scheme of the loans availed through VIAZ compared to traditional banking systems and you will definitely see the advantage of using VIAZ.
Revenues of the VIAZ company
A company built on any industrial sector needs revenue in order to roll out its expansion as well as create new features for the company itself. So here are the revenue streams on why VIAZ is a great blockchain project:
A. Service fees--> For every loan transactions and repayments, VIAZ will have minimal fees and it will make the ecosystem sustainable.
B. LVR or the loan to value ratio liquidations and automated getting of excess loan funds.--> This is like having a bot with trading skills fully automated with artificial intelligence.
C. Liquidation of assets-> If a borrower default with a loan, the crypto will be liquidated and the excess from the principal amount plus interest of the lenders' payment will be the VIAZ's profit.
Token rewards for holders (Monthly)
Since PRAs or Platform Related Actions are here in place, like having the tokens be sold or used for loans, as well as fees in the system, the VIAZ team also do have monthly airdrops to these people as a reward for having the liquidity to the system. This is the overly used adage in cryptosphere known as airdrops.
Decentralized account identity
To summarize this feature of VIAZ, this is the unique ID made available for either borrower or lender in the system. Wherein private keys, mnemonics, and passphrases will be seen anonymously only by the user itself. With this type of system, the KYC and AMLC will know that these people are duly registered into VIAZ and is just here for the purpose of loan transactions and other future services offered by the VIAZ platform. Aside from that, they could link accounts so that the credit scoring for the members can also be seen by other people but not seeing the account name nor holder itself. That leaves the true anonymization and decentralization in nature.
My summary and take-away for the VIAZ platform
Alright guys, so let us have the climax of our article. For me, this VIAZ project will benefit people all around the globe who needs funding but is still starting-up but got some crypto to collateral then they are good to go. It is also a non-age restricting type of funding, unlike the typical banks.
The last part is why VIAZ?
They will accept Tezos that can be held and give rewards for baking and staking. There is also profit sharing wherein the interest will be divided 3 ways. One is for burning of tokens which makes the VIAZ coin go up in price as the supply decreases until a certain point. Another will be having the one-third to be retained as their revenue and one-third of it will be airdropped to qualified token holders who are participating in the VIAZ related action coalition.
With automated reminders and notifications for borrowers to pay their loan/debt so they will be alerted that they need to pay their loan on time as well. With the DAI and key retrieval steps in place, all will be financially secured and identity to be confidential as well. A well-done project! More power VIAZ team!
Here is the VIAZ team:
VIAZ TEAM
ROADMAP
Thank you very much guys for checking my article!
For more information about VIAZ platform and ecoystem, you may visit their website, yellow paper, white paper and different social media accounts below:
Website: https://viaz.io/index.html
White paper: https://viaz.io/documents/Viaz-Whitepaper_EN.pdf
Yellow paper: https://viaz.io/documents/Viaz-Yellowpaper.pdf
Facebook: https://www.facebook.com/viazofficial
Medium: https://medium.com/@ViazOfficial
Reddit: https://www.reddit.com/user/ViazOfficial
Telegram: https://t.me/ViazOfficialAnnouncements
Twitter: https://twitter.com/ViazOfficial
Youtube: https://www.youtube.com/channel/UC0T2NqXgg8Tki9s0Osi2E3w
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