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Ratings LendsBay

Credit Ecosystem

The LendsBay system creates a new approach to loans between people, solving the problems such as: No formal loan records: disputes arise about repayment dates, terms and conditions; no reminders are sent; No contract: there is no mechanism for judicial enforcement of debt repayment; No market-based mechanism for determining interest rates: the market is either larger or smaller than its potential; No tools for risk management: no credit rating, diversification, insurance. ⠀ ⠀ We offer the following step-by-step solution to the above-mentioned problems: Creating an app to manage loans between relatives, friends and acquaintances: the app is used to find a lender and then to record, document and administer (e.g. send out reminders) the loan; Creating social groups (so-called bays) to pool financial resources through mutual lending, e.g. there are social groups centred around work, universities and social clubs that already have a certain level of trust, common values and a high degree of social control, not to mention little tolerance for irresponsible behaviour; Creating a blockchain to store individuals' credit-rating information (LBR); Using the blockchain for any financial transactions between individuals (non-credit assessment) (LBU); Developing the elements of an ecosystem for financial relations: mutual insurance; purchasing, selling or leasing items; and decision-making systems. ⠀ LendsBay team have already developed a functional and ready-to-use alpha version of the application.

3.2
5 4 expert ratings
Benchy 4.0
KYC
Experts
2.6
3.0
2.4
Review: coming soon PRO
Ended
Token
LBT
Type
Price in preICO
1 LBt = 0.0007 ETH
Price in ICO
0.2040 USD
Country
Whitelist/KYC
KYC & Whitelist
Restricted areas
USA, China
preICO start
18th Jun 2018
preICO end
29th Jul 2018
ICO start
18th Sep 2018
ICO end
29th Oct 2018
Visit ICO website
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Changelly

Ratings

All ratings published on ICObench serve informational purposes only. ICObench does not provide investment forecast, recommendations or any consulting for that matter. Thus, neither ICObench, nor the experts can be hold responsible for the visitors’ investment decisions. Read more
Clemen Chiang
Ph.D. | CEO | FinTech in Stocks | Blockchain in Cryptos | Author of Amazon Best Sellers in Online Trading
Rated on Jul 31, 2018
3
3
3
18%

"The LendsBay system creates a new approach to loans between people, solving the problems such as: No formal loan records: disputes arise about repayment dates, terms and conditions; no reminders are sent; No contract: there is no mechanism for judicial enforcement of debt repayment; No market-based mechanism for determining interest rates: the market is either larger or smaller than its potential; No tools for risk management: no credit rating, diversification, insurance."

This sentence is written poorly. Perhaps you like to rewrite your introduction?

+1Agree
-2
-3Disagree
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Mohit Tater
Blockchain & ICO Advisor, Investor, Serial Entrepreneur
Rated on Jul 9, 2018
2
2
2
16%

I honestly think this idea is not new and has been already executed by others. Moreover, I don't think there is really a need to use blockchain technology.

Plus, the team doesn't seem to have much experience with blockchain technology. I wish them all the best.

+1Agree
-4
-5Disagree
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Kristina ShilovaICO team member replied on 9 Jul 2018
Thank you for your comment. There are existing P2P financing platforms (zopa, lending club) where borrowers and lenders typically do not know each other. At the same time there is 1 trillion dollars informal market where people lend to other people whom they know - friends, co-workers, relatives. This market already exists and our platform will service this market. Think of this as facebook or LinkedIn combined with the Lending club. There is no project like that in fiat currencies.

Blockchain technology is used in the project to make all the credit history in both informal and formal markets (not only within the existing national bureaux) transparent, trustworthy and internationally transferable. There are no platforms that have been built to that purpose yet.

Blockchain is a relatively new technology and it is being adopted in many projects by people with no previous experience in blockchain. We are also working on finalizing and announcing a joint venture with a blockchain software company which will be very useful for the development of our platform
Nozomu Nakazato
ICO consultant
Rated on Aug 1, 2018
3
4
3
16%

A very unique idea!
I enjoy reading whitepaper for the first time in a long time and read. Its a niche industry, and this project deals with problems that everyone can hardly speak. Necessity to exist reliably.

You need to call a blockchain expert on the team. (I am aware that it is difficult, of course)
What kind of calculation formula is credit scoring?
How is the information accumulated, calculated and reduced?
I want to know this.
Also, I thought that I would like to try MVP, but Im sorry that there is no reply.
If I can try this, I will improve the evaluation of the product if this is wonderful.

+12Agree
+12
Disagree
Report
Alexis Berthoud
Entrepreneur | C-level | STO Advisor
Rated on Jul 5, 2018
Modified on Jul 5, 2018
2
3
1
9%

After review profile on linkedin The founder has no entrepreneur experienced. And It so crucial when the project is sold on a promesse like an iCO. No proof on their execution capacity.

Vision, same project has been already developped by many competitors.

No apps available to tested ...

Incoherence into info on the token sale between website and Icobench

Responses

10 000 000 Hardcap website ?
1 500 000 Icobench ?

And I don't see in the entrepreneur experience in your linkedin profile just bank position. Never pass a business 0$ to many millions $

And to finish a founder has just 7 connections on linkedin ....

+1Agree
-5
-6Disagree
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Kristina ShilovaICO team member replied on 9 Jul 2018
Thank you for your comment. Our founders and advisors have entrepreneurial experience, although admittedly not in creating tech platforms.

There are existing P2P financing platforms (zopa, lending club) where borrowers and lenders typically do not know each other. At the same time there is 1 trillion dollars informal market where people lend to other people whom they know - friends, co-workers, relatives. This market already exists and our platform will service this market. Think of this as facebook or LinkedIn combined with the Lending club. There is no project like that in fiat currencies.

We have tested two prototypes with real users, reflected the users' comments and experience in our new version. We plan to release the first version of the app within 2 months.

ICO bench hardcap is for pre-ICO, ICO soft cap is $10m. Now we are conducting the pre-ICO.

Some of our founders like the privacy and have not used linkedin extensively. We are trying to change that)))
Benchy
ICO analyzer bot
4.0
41%

Experts are independently and voluntarily contributing to the community. If no expert has rated the ICO, only ICO analyzer's results are used. Always research before investing as these ratings should not be taken as an investing guide of any kind.

Ratings and ICO analyzer results are being updated (re-calculated) every few hours.

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ICO KYC Report
2 members invited
Alexander Koptelov
Passed
Anton Gazizov
Passed
KYC procedure verifies selected/specific team members only. It does not guarantee ICO success nor is a call for investment.
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