VENA NETWORK: Making Financial System Robust Via Decentralization

chudisteemit (38)in #bitcoin • 5 years ago (edited)

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Introduction

Hello all, I bring you a glad tiding the one that came with succor in bridging such huge void of our financial system. Technology of blockchain is presently disrupting on a larger scale numerous industries. However, the one that is affected mostly is the financial institutions. Banks offers plenty amount of services through wearing a face to create a public perception that they can be trusted and highly reliable, though they are mostly not. The issues that lies with such existing financial organization is not as if is not trustworthy in its discharge of services; but only issues bedeviling such efforts of banks is presence of middlemen activities that nourishes themselves on surcharges and levies they often deducts on their of merchants.
A good number of banking institutions give an interest more or less than 1% but the usual mortgage credit rate is close to 4%; mortgages help make loans available but if such customers default in his/her payment, then banks feed fat on such defaulters through high interest. Unlike in the stone ages where banks services are rare to find, such middlemen fee can be justified due to the fact that it can be a herculean task to find businesses or someone whom you could or loan you money.
Nowadays, advent of digitalization has totally eradicated this common threat. Almost every person is linked on the enormous network that internet has grown to become now, with a fast pace it kept receiving more attention globally. Vena network has now made financial services pretty easy especially as regards lending activities. http://vena.network/en

What is it?

Vena Network is a decentralized lending platform which helps integrate some sort of frontiers on who can and cannot give out loans. Vena Network restructures a working lending market place in a peer-to-peer ecosystem such that favors both entity which comprises of lenders (banks) and receivers (customers). Vena Nodes are the lenders and it requires of them to keep pledging their VENA tokens so they there will be long term sustainability of the platform.

Features

Time regulation: Problems like extortion and manual confirmation break are solved with support of time monitoring system within Vena Protocol. It will help in user’s time monitoring.
Brilliant contract advancement: A regular procedure is completed with Vena Protocol via an amount of smart contracts. The code of such contracts is unlocked and can be make use of without need to break your pocket. They make use of smart contract language which is more robust and secure.
Vena tokens: Token is a utility like money used in an ecosystem, it will help safe keep coin at all cost and with a well established interest rate and to getting an estimation of the tokens boosted.
Token name: Vena
PreICO Price =1 ETH is 15,000 Vena
Price = 1 ETH is 10,000 Vena
Hard cap is 9,000 ETH
Security: Security make a platform, this is what Vena network will not relent upon. They provide adequate and robust security for their customers without having to fret about how safe you are on its ecosystem.
Easy lending means: Various blockchain platforms has really tried to create a peer-to-peer loaning ecosystem which has been difficult in pulling through because when it comes to financial issues a lot of people are scared.

In view of this, Vena Network in alternative restructures the lending atmosphere that exists globally presently, but however it achieved this success without compromise in its value and changing its network into a centralized body that is commonly found.

Final thoughts

Financial loans are multifaceted economic products; this is because banks are not the only playmaker in their lending. Government bodies are regulating those that are qualified to issue financial security to bring to minimal fraud cases. Authorized legal structure are on ground to ensure lending differences are timely resolved, therefore the supremacy law allows virtually all and sundry to behave in a mostly responsible way.