Depository Network is a B2B project combining the traditional financial system with the blockchain technology.
We build a secure infrastructure for lenders to accept blockchain assets as guarantee for loans.
- Improve the liquidity of 100 million crypto holders.
- Allow all lenders worldwide to enter into the crypto world.
- Support many crypto currencies and tokens.
Depository Network enables all lenders to accept crypto as guarantee without changing the lending process.
We provide the missing technological layer to the lenders as banks, credit institutions, and p2p lending platforms.
Depository Network is the world`s first multi-platform network enable lenders (P2P lending marketplaces, banks, other credit institutions) to accept digital assets as collateral.
More than 50,000 banks, sub-prime lenders, consumer finance companies, crypto lenders and P2P lending platforms all over the world. Our goal is within 7 years to reach 5 % penetration in global lenders market.
Depository Network will provide secure decentralized crypto asset collateral system on which can be build hundreds of collateral depository platforms. This way, every owner of digital assets, holding coins or tokens supported by Depository Network, can pledge his assets as a collateral and receive a loan from a number of lending institutions. On the other hand, any lender, all over the world, will be able to build its own depository on Depository Network and start accepting digital assets as collateral.
Thus, every lender will keep the collateral assets in separate independent depository.
All lenders define own terms for accepting, control and release of the collateral.
Loans will be provided independently from the Depository platform, in any currency supported by the respective lender.
To ensure the full security of our platform we use cryptographically secure multisignature wallets to store the assets, and smart contracts to execute the transactions.
The borrower (owner of the assets) is always one of the key-holders whose signature is required to perform a transaction. Keys are kept also by the lender and DEPO so that none of the parties can act on its own discretion. Three, four ot five multi-signature wallets will be used depending on the amount of collateral.
There will be two types of collateral smart contracts:
1. DEPO Smart Contract - with no middleman. It will be fully integrated with the lender’s API and and will be triggered by an event such as a payment, missed payment, contract termination, etc. It will be created for assets issued on platforms such as Etherium, EOS, Cardano, Qtum, Lisk, Aeturnity and others containing smart contracts.
2. DEPO Escrow Contract - Locked with minimum three signatures - one for borrower, one for lender, one for DEPO. DEPO collateral contracts will be used for digital asstets (coins and tokens) without smart contract support.
The current pledge registers are strictly centralized state structures maintained separately by each country. Depository Network will overtake these functions from the state and provide them to the businesses. This will greatly boost the cross-border nature of the credit economy.
When you make a new business - you enter a competition (with other ICOs or FIAT projects that provide various solutions to satisfy the tagreted customers). So it is a mistake not no make a competitive analysis. It make believe that your strategy maybe wrong and out of the market. There is also no business planning in the WP. The team itself is too localised
Delyan NikolovICO team member replied on 5 Jul 2018
Hello Mr. Karavaev ,
Thank you for your review.
I believe there is a misunderstanding. We do not compete with FIAT and other cryptocurrencies, and we are not loan provider.
We are building infrastructure, where each lender will be able to build their own white label depository platform for accepting all types of crypto assets (currencies and tokens) as collateral for loans.
We provide a completely new business model for depositing crypto assets as guarantee for the entire banking industry.
We are doing so by providing the technological layer (user interface, backend, smart contracts) to the lenders (which can be banks, credit institutions, p2p lenders). That way we are making our business model scalable and available in many different countries.
I do also want to mention that Depository Network is enabling all the big and small players in the lending market to be able to start accepting crypto without changes in the way they are providing loans, which is giving us even more scalability and potential of resounding success.
CIO at Envinary Rated on Jul 21, 2018 Modified on Jul 21, 2018
5
5
4
18%
The idea and vision of the project are surely good as the project aims to build one of the essential parts of the future crypto-financial infrastructure which can potentially unite the broken parts of the current crypto-exchange/-finance market. However, such project is very ambitious and should be executed with care and professionalism.
Internet Marketer | Crypto Enthusiast | Investor | Trader | ICO Advisor Rated on Jul 5, 2018
4
4
3
13%
I like the advisor team because of their authorities but it does not mean the project idea can be a great success.
Competing with FIAT and other cryptocurrencies which has stable standing is not an easy work so you need to have careful review and analysis of pros and cons. Without showing investors the solutions on how to compete with other payers to win the battle, you can't convince investors to contribute to the project.
Delyan NikolovICO team member replied on 5 Jul 2018
Hello Mr. Tran,
Thank you for your review.
I believe there is a misunderstanding. We do not compete with FIAT and other cryptocurrencies, and we are not loan provider.
We are building infrastructure, where each lender will be able to build their own white label depository platform for accepting all types of crypto assets (currencies and tokens) as collateral for loans.
We provide a completely new business model for depositing crypto assets as guarantee for the entire banking industry.
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