LendsBay (LBt) ICO

updated 17 July 2018

LendsBay is system for trusted financial transactions between people based on transparency and blockchain technology.

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Status: ended
Public sale: 18 Jun`18-29 Jul`18
Cap: 1 500 000 USD
Goal: 500 000 USD
Price: 1 LBt = 0.0006 ETH
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LendsBay - Credit ecosystem

The LendsBay system creates a new approach to loans between people (relatives, friends, acquaintances), solving the problems such as:
❌  No formal loan records: disputes arise about repayment dates, terms and conditions; no reminders are sent;
❌  No contract: there is no mechanism for judicial enforcement of debt repayment;
❌  No market-based mechanism for determining interest rates: the market is either larger or smaller than its potential;
❌  No tools for risk management: no credit rating, diversification, insurance.
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We offer the following step-by-step solution to the above-mentioned problems:
1️⃣ Creating an app to manage loans between relatives, friends and acquaintances: the app is used to find a lender and then to record, document and administer (e.g. send out reminders) the loan;
2️⃣ Creating social groups (so-called bays) to pool financial resources through mutual lending, e.g. there are social groups centred around work, universities and social clubs that already have a certain level of trust, common values and a high degree of social control, not to mention little tolerance for irresponsible behaviour;
3️⃣ Creating a blockchain to store individuals' credit-rating information (LBR);
4️⃣ Using the blockchain for any financial transactions between individuals (non-credit assessment) (LBU);
5️⃣ Developing the elements of an ecosystem for financial relations: mutual insurance; purchasing, selling or leasing items; and decision-making systems.
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LendsBay team have already developed a functional and ready-to-use alpha version of the application ?⠀ 

The project has a unique team with great experience in banking in such areas as: risk management, corporate finance, it, marketing, derivatives, investment business ?‍??‍??‍?

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