A NEW WAY FOR SMALL BUISNESS TO LEND&BORROW CAPITAL-CobaltLend
Tags: Blockchain, Defi, Blockchain Technology, Blockchain Development, Ethereum

A NEW WAY FOR SMALL BUISNESS TO LEND&BORROW CAPITAL-CobaltLend

The Cobalt lending platform aims to bring together borrowers into a fair democratic voting community in order to get all size loans from micro loans to six-figure loans all without the oversight of a bank, completely governed by the community and therefor the community directly profits from its involvement. The current credit system is fundamentally flawed and the Cobalt platform corrects this by facilitating a community voted and approved lending program on the blockchain that is completely based off the merits of the project, never seeing race, color, or individuals background. The only criteria considered for the loans will be merit of project and collateral provided by the borrower, then the community will be left to decide on funding the proposal or rejecting it.

Cobalt is a community driven lending platform for small businesses to borrow from each other and lend to each other — therefor collecting the loan fees and interest instead of the bank.

Our focus is small business and we will help with such things like giving them access to our software suite that enables credit card processing and crypto processing all together in on mobile dapp — no extra costly hardware.

Cobalt Lend is a platform that allows people to be able to borrow and lend capital. With this platform, it is hoped that businesses can easily borrow and lend their capital to others and get rewards from their participation.

Cobalt Lend institutes a blockchain protocol that allows for community-approved lending at minimal fees and low overhead, with both the borrower and the community benefiting. Because everyone needs to be empowered and entitled to a loan for business or other things, and Cobalt Lend is tired of seeing these people being turned down and the traditional credit system broken, with the rich getting richer. Therefore Cobalt Lend is here as a platform that will change this broken system.

Borrowing & Lending: Users can lend their excess capital to other users who need it and get profit from the loan interest. Everything can be done easily via mobile phone.

Cobalt Lend Software Suite: Software developed by Cobalt Lend, which allows processing cryptocurrencies and credit cards together in one mobile Dapp without going through or adding additional hardware.

Small Businesses: The focus of Cobalt Lend is to empower businesses that are struggling to get loans. With Cobalt Lend, businesses can be facilitated by borrowing and lending in the same community easily and safely, so that the beneficiaries are the community instead of the bank.

Community voted lending: Every loan submitted by users will be reviewed and approved by the community. In this process, the community will not see race, religion, skin color, or other things, everything in the community will be equalized, the most important thing is the merit of the project and the collateral provided by the borrower.

Token Burn–Every time there is a transaction on the network a small portion of the fees in Cobalt (CBLT) Token will be allotted to be burnt therefor contributing to the deflationary model(See Fee Model)Complete Governance dictates that all fee & loan structures are meant to be adjusted to suite the community’s needs at any time called to by a vote — Yes the treasury will also conduct periodic buy backs of the Cobalt (CBLT) Token at the request of the community.

Tokenomics: Treasury will control42.5% of the total supply of Cobalt (CBLT) Tokens for expenses, loans, dividend payouts & investments Foundation will control 22.5% of the total supply of Cobalt (CBLT) Tokens for operating expenses Founders will control 10%of the total supply for expansion and future development5%of the total supply will be retained for a planned Airdrop / Earn-drop

Web link: https://cobaltlend.com/

GitHub: https://github.com/cobaltlend

Telegram: https://t.me/cobaltlend