Upcoming Platform For Bitcoin Lovers : Debifi
What is Debifi?
During the recent Baltic Honeybadger Conference, the CEO of peer-to-peer bitcoin exchange Hodl Hodl, Mr. Max Keidun announced to launch in the first quarter of next year a new lending platform Debifi aiming to get the conventional banks to live by the bitcoin standards.
Mr. Max Keidun plans to allow its users to give long-term loan facilities by the means of stablecoins and fiat money against keeping bitcoin as collateral. He claimed that already some banks and exchange companies are showing high interest to join on the new platform and working together. For example, centralized exchange Bitfinex is interested to work with it.
How will Debifi do?
Mr. Max Keidun has the experience to establish some such types of platforms like Hodl Hodl and Lend, which also offer loans and other facilities. But the strategy for Debifi would be something different. The users may have to provide the information required for a KYC check (KYC: Know Your Client/Customer) though it will not be stored by the new platform Debifi rather than used by the lender for their notification and client study before providing the loan. Hence it is different than the other platforms like Hodl Hodl and Lend.
Four keys will ensure the protection of the users' accounts. The additional key will be held by reputable bitcoin companies like Casa, Blockstream, and Jan3 to secure the accounts from a scammer or hacker who may want to break the protocol and grasp the fund.
Debifi will offer term loan facilities for up to five years that will be integrated with the hardware wallet of the user. The users can generate an escrow wallet backing against the main wallets and a signature will be created by their device that was not available on other platforms Mr. Keidun. It will provide the users more security and control over their account as there will have no single body who holds full control over the collateral.
Why Debifi?
Debifi is going to be a new marketplace that will offer loans to its users and engage crypto exchange cum investor companies and traditional banks in working with bitcoin despite grappling with the new technology Keemun was inspired to launch this project by observing the sharply increasing trends of non-bitcoin decentralized finance (Defi) items like Ethereum. To hold the top position of Bitcoin as a crypto asset as well as a medium of lending, such type of new concept is essential to be projected that will ease the process to understand and execution for both the users & the banks where banks and any other platform cannot use the collateral for additional earnings.
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VEIGO (Community Mod)
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