It is no surprise that word of the cryptocurrency and blockchain space has been travelling all over the world. Bitcoin has paved the way of reinventing the way we store and move value from one person to the next via blockchain technology. Due to the success of bitcoin, many other blockchain projects are on the rise and are now catching the attention of big corporations. Investments in cryptocurrency and blockchain technology is dramatically being increased by these venture capital companies and private investors.

There is no surprise as long as investing and trading are taking place, there will always be a need for lending and borrowing financial assets. This is no different for the crpytocurrency space. That’s where this hidden gem LendingBlock comes in.

What is LendingBlock?

The Lendingblock platform is heavily focused on providing liquidity in the cryptocurrency market by allowing investors, funds, and traders to have access to assets that can be used to support trading, fund working capital, or fulfill investment funding needs. They are building an exchange like platform allows fully collateralized loans build on the Ethereum network. Imagine having an exchange like platform (such as Binance ,Coinbased etc.) where you can borrow or lend out cryptocurrency at whatever terms or interest rate you want.

What makes LendingBlock standout?

LendingBlock’s primary focus and clientele are not individuals but exchanges, investment funds, high level traders etc. In simply terms they are the potential platform where parties with huge amount of capital will go to borrow and lend off cryptocurrency. Many other lending platforms currently on the market tend to focus more on the average individual to individual route but LendingBlock is aiming for the corporate world. They have also stated in the future the platform will be adjusted to facilitate borrowing from individuals on the platform. Due to this approach they are focused on creating partnerships with exchanges to allow their platform to be accessible for the customers of these exchanges.

What is the purpose of the LendingBlock (LND) Token?

LND is the token for the LendingBlock platform. The main usage of the LND token is for the repayment of the interest on the loans. For example if Party A borrows $100,000 at an interest rate of 10% from Party B; that means10% ($10,000) has to be paid only with the LND token. Due to this Party A has to purchase LND tokens in order to repay this interest to Party B. This is where the value of the LND token will move upward. It’s safe to say the higher the demand of borrowing the more demand for the LND tokens will be.

Why should LendingBlock be on your radar?

Its not doubt as the cryptocurrency market progresses there will always be a demand for this type of borrowing service will continue to grow.

LendingBlock has been gradually acquiring partnerships and working closely with investment funds and exchanges leading up to the launch of their platform. Back in June they announced a partnership with Octagon Strategy which is the largest digital asset broker in Asia-Pacific, managing the buying and selling of all major cryptocurrencies with clients in more than 50 countries worldwide. They have also inked partnership with Liquid exchange a Japanese based exchange said to be the next big exchange. Also mentioned by the team that 1/3 of about 25 alpha testing clients are exchanges. This means if successful more partnerships with exchanges may be on the way.

The LendingBlock team are quite experienced in the financial field and that gives investors a level of trust and confidence in the project. The team’s cofounders are Steve Swain and Linda Wang. Steve Swain has extensive experience in the finance field from being a partner at Deloitte, management consultant and PwC and Managing Director of Risk Technology at UBS. This shows that the CEO Steve Swain is aware and well respected in the financial field. Linda Wang also has an impressive background working at Deloitte as a Tech consultant with a masters in Computer Science . The rest of the team are fully experienced and they are constantly adding new talent with impressive resumes. This brings a sense of quality and trust to anyone willing to invest or form strategic partnerships with LendingBlock.

What’s currently happening?

The team is now undergoing their alpha testing of the platform which has about 25 users including exchanges, investment funds and high level traders. The platform is set to go live Q1 of 2019. They are also in the process of regulatory application . Yes! you got it right they are doing things the right and legal way and are on the path of being compliant to regulation so that when launched they will run smoothly.

The team is constantly working and keeping the community updated via their social media platforms. Most recently they had a Ask Anything session where individuals could have ask any information about the current status of the platform . This can be seen below: