GekoBox is a blockchain-based application for evaluating users’ reputation for lending, and also provides P2P exchange services.
GekoBox currently runs a cryptocurrency exchange platform. However, we are developing a blockchain based application for rating and verifying lenders and borrowers in the loaning process.
Our idea of developing such an application, just like cryptocurrency, is to eliminate the barriers to doing business such as lending across the globe.
The purpose of establishing the system on a blockchain is to have the records of users’ credibility recorded on a distributed digital ledger. The system is decentralized, global and also eliminates the need for dependence on a third-party platform or database.
The application is expected to be very secure and immutable as a result of the use of blockchain technology.
With the use of our application, lenders will have the ability to explore the blockchain in order to identify borrowers who are already in debt.
Our application also runs an algorithm that can evaluate a users reputation, and also recommends a maximum lendable amount, based on the history of the borrower.
The application is highly recommended for use in the banking industry, online lending platforms, personal loans, etc.
We are determined to deliver a system that creates a global access to loans in any currency without regional barriers.
The application comes with a lot more features to keep it outstanding and relevant.