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When the word "loan" is sprung to our mind a whole new matrix formation takes place in our brain. Borrowing of money, despite being a legal activity with the help of the banking system of the current times is assumed to be a secondary option when in need. But on the other hand, this generous service promoted by our society saves the roofs for some and provides them for the others. There are so many motives for taking a loan. Money plays a pivotal role in fulfilling a human's dream. Thus loans are nothing short of a direct blessing with the additional relief of variable interest rates.
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Mortgage loans are another splendid form of help that the mass can receive as an individual. The loan allows the loan taker to keep his or her property, preferably house as a lease for borrowing money. The loan provides the loan taker with the ability to still occupy the house. Through this service, some people can rent houses when they are not able to purchase the property as a whole. But if the system is this beneficial, what could be the supposed problems that people face?
The problem lies in the functioning of the system. Various banks offer different interest rates which are usually pretty low. On top of that, the opacity maintained by the banks with the data bugs the loan taker and their conscience. Many people reach out to the loan giving system with the hopes of new homes but are midway met with the demands and crudeness of the traditional loan giving system. Is there anyway with which the technology can help get the people out of this chaotic situation?
**The solution**
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The technology indeed has a solution for everything. Homelend is the name of the project which is here to imply the exact technology to help the loan system and its likes. The platform harnesses the power of blockchain technology which allows it to create a single space for the formation of a network of borrowers and lenders. The platform is powered by the smart contract and hyper ledger to grant the desired transparency to the system and gain the trust of both the borrower and the lender.
With the loan taking being an online service, the paperwork is reduced and so is the manual labour. Both the factors lead to a more efficient and failure less loaning out. The user-friendly platform has been tokenized for the benefit of the people so as to keep the loan givers and takers motivated through rewards.
The platform is trustable and secure as it gets rids of any sort of middlemen and allows a peer to peer contact on the network. End to end communication works to provide a more generous and effective loan handling compared to the stray loan sharks out there.
**The ICO Details**
The tokenization of the platform has been done to ensure smooth functioning of the intended services. The token coined by the platform is known as the HMD token. The token has a real market value of 1 ETH = 1,600 HMD with the token being a standard Ethereum. The minimum amount of investment that can be made in the project is 1,000 USD. The minimum amount of investment required for the soft launch of the project is 5,000,000 USD and the hard capital required for the dream project to be made into a reality is 30,000,000 USD.
**The conclusion**
The lending out services is a really sensitive one. From trust issues to the borrower's credit. All the efforts made towards the system expect a fool-proof result and thus the technology of blockchain can impress us. So, get ready to lend and borrow seamlessly with homelend!
**Website** - <https://homelend.io/>
**Whitepaper** - <https://homelend.io/files/Whitepaper.pdf>
**ANN** - <https://bitcointalk.org/index.php?topic=3407541>
**Telegram** - https://t.me/HomelendPlatform
**Published by** - dannywhelan
**Profile** - <https://bitcointalk.org/index.php?action=profile;u=1606458>
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