SHIFT.cash comes with a whole new system for lenders and borrowers. With this platform, borrowers will use their vehicles to secure the amount of loan they need and investors will accept these vehicles as collateral for the loans.
SHIFT.cash is a lending platform where borrowers use their cars as collateral. It is backed by car dealers, credit brokers, microfinance banks and other organizations all over the world.
Users can get any amount of loans needed at very low interest rates.
The system is built on the Ethereum smart contracts Blockchain which ensures security and transparency.
For each loan, a new block is created with all details of the transaction.
The platform has a mobile app which estimates the value of the car collateral and determines how much loan its owner could be given. In all cases, the loan amount in SHIFT.cash never exceeds 35% of the value of the car collateral.
The CEO of SHIFT.cash, Thomas Novak said:
“We have long cherished the idea of how to make the process of investing in foreign companies as convenient and safe as possible. Blockchain solves this problem.”
SHIFT.cash was founded in 2015 in Vienna. The firm has also operated in Germany and France for years before the CEO alongside some IT partners of the firm automated the lending process using Blockchain technology.
For more information visit: www.shift.cash
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