BTCJam is a Crowd Lending Platform That Uses Bitcoin in a P2P Model
Alyson Wyers — July 29, 2016 — Business
References: btcjam & springwise
BTCJam is an international lending platform that uses Bitcoin in a peer-to-peer marketplace. Through their P2P model, they are able to offer more accessibility to loans around the world and help democratize financial services.
The service facilitates personal loans in a variety of forms, including medical expenses, business, debt consolidation, credit card refinancing, Bitcoin mining, major purchases, vacations and more. Crowd lending is becoming an increasingly popular, especially in the United Kingdom. The process behind BTCJam is a simple one -- you create your loan, watch it get funded, withdraw your money and then make fixed and affordable payments at a low rate. The lending platform is also a chance for interested parties to invest their Bitcoin with a high rate of return.
The service facilitates personal loans in a variety of forms, including medical expenses, business, debt consolidation, credit card refinancing, Bitcoin mining, major purchases, vacations and more. Crowd lending is becoming an increasingly popular, especially in the United Kingdom. The process behind BTCJam is a simple one -- you create your loan, watch it get funded, withdraw your money and then make fixed and affordable payments at a low rate. The lending platform is also a chance for interested parties to invest their Bitcoin with a high rate of return.
Trend Themes
1. Peer-to-peer Lending - Disruptive innovation opportunity: Creating a decentralized lending platform that enables individuals to directly lend and borrow without the involvement of traditional financial institutions.
2. Crowdfunding - Disruptive innovation opportunity: Developing a blockchain-based crowdfunding platform that allows users to invest in projects and businesses using cryptocurrency, enabling global access to funding.
3. Cryptocurrency Investment - Disruptive innovation opportunity: Establishing an automated investment platform that uses algorithmic trading and artificial intelligence to manage cryptocurrency portfolios for investors.
Industry Implications
1. Fintech - Disruptive innovation opportunity: Building an integrated blockchain-powered financial technology platform that offers cryptocurrency lending, borrowing, and investment services.
2. Lending - Disruptive innovation opportunity: Creating a peer-to-peer lending marketplace that utilizes cryptocurrency as a medium of exchange, reducing transaction costs and increasing accessibility for borrowers.
3. Blockchain - Disruptive innovation opportunity: Developing blockchain solutions for the financial industry that streamline loan approval processes, enhance transparency, and provide secure peer-to-peer transactions.
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