Lition (LIT) will be a top 30 crypto soon

medium.com/lition-blog/introducing-the-mvp-of-our-syndicate-loan-dapp-2e50ebb59b1b

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"Introducing the MVP of our Syndicate Loan dApp

About six weeks ago, Lition held a meetup at the SAP Dataspace, where we celebrated the launch of our first testnet. Towards the end of the event, I took the chance to introduce our finance use case, which is bound to expand our ecosystem. You can see the recorded video of the meetup here.

Lition recently signed a partnership with two German banks that led to an agreement over the execution of a syndicate loan on our very own infrastructure. This MVP was designed to facilitate the discussions in preparation for a trial run with live data for a real estate project valued at 20 million Euros in Munich.

First, let me quickly give you a brief overview on what syndicate loans are:

In a syndicate loan, multiple lenders (mostly banks) collectively provide the loan amount and thereby form a syndicate
The loan is then provided to a single borrower, which could be the government, an individual or a large investment project
This reduces the default risk for the lending parties and enables huge loan amounts
Unfortunately, the manual processes behind these loans rely on intermediaries, phone calls and fax machines and thus are anything but 21st century.

STOP the spam. I am a top holder but this is just pajeet like... Lition doesn't need spam, let it grow organically

As a matter of fact, digitalization of the process to close a syndicate loan is critical to enhance security and cut cost. Since the aforementioned presentation, we have committed to work on the syndicate loan dApp. The application is built on a responsive front-end user interface, which seamlessly connects to the blockchain via web3.js.

Today we are releasing the minimum viable product (MVP) of our syndicated loan blockchain application.

The dApp allows multiple parties to apply for, manage and approve loans decentrally.
The dApp we at Lition have been developing has some basic functionality to create loans in the browser-based web interface and let’s you store the loans on the blockchain, currently in a self-developed smart contract.

One of the core features is multi-user functionality, meaning a loan creator can add other banks as lenders which can then propose changes to the loan agreement. If a party agrees with the current state, it can approve the loan. Once every single party has agreed to the same revision, the loan will be approved and can then be enforced.

Use of the Lition Blockchain with its privacy and deletability features
In a loan application, the most private data is provided: credit history, payment details, collateral like salary levels or property. In order to test and evaluate our dApp, we decided to deploy the smart contract on an EVM-compatible public blockchain, namely the Ethereum-based Kovan network. However, before commercial deployment in our partner bank, we will require a legal solution for privacy.

This is where the Lition blockchain comes into play, which we will use for deployment in a future version. The loans then are processed on a privileged sidechain, with selective data visibility to ensure private data is only shared among the nodes that are trustworthy—similar to our running Energy dApp described here.

Further, the private data of a loan needs to be deleted when it is fully paid off, goes into default or the application is declined. This functionality is paramount, as no large business can afford to openly violate laws. Lition’s data deletion functionality will allow the banks to solve this issue and be compliant with legislation.

LITeral pump and dump scam. No one is buying yoir bags

Desperate pajeet

Hello Boltards

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BOLTlets BTFO

IT WONT STOP GOING DOWN

soon below ico of 0.1. if you think this project is valid do not buy above

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Yo, can someone please explain to me why the Blockfolio chart for this shit goes back so far? I thought the ICO was recent?

Sure you got the right LIT buddy?

Imagine buying a pump and dump after it already pumped

>pump and dump
brainlet

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You guys are stinking up the place with all these threads it's having the reverse effect. Just sell up and rebuy after the airdrop and you'll be good to go

It literally pumped and continues to dump, you fucking brainlet. When will you finally admit it was a pnd? When the price is 0?

im tired of this dumb fud