Drinking list
 The Gelios platform

Gelios is a platform for peer-to-peer lending via cryptocurrency on the blockchain. The Gelios platform allows people from all over the world to raise capital, and aims to increase prosperity and reduce poverty worldwide. The basic function of the platform is to provide a matching mechanism, facilitating creditors’ and borrowers’ coming together. What’s more, the mechanism helps the two parties to find consensus on the period of the loan, the interest rate, and the identification and validation procedure, making the process of borrowing fast, easy, and available online to anyone, anywhere.

The basic function of the token in the Gelios ecosystem is to provide value with no dependency on the country of residence of any participant of the platform. Location, language and race are non-issues on the Gelios platform. Smart-contracts are considered by many in the financial sector to be an excellent tool for the facilitation, by way of the blockchain, of money-transfers. Their implementation is the result of the agreement between two parties to make a micro-transaction on the blockchain.   The smart contract ensures rewards for webmasters, who provide leads to creditors, and for collectors, who help creditors to be paid back for loans. Verifiers are an irreplaceable part of the system, and are rewarded for helping creditors to verify the identity of the person applying for credit despite long geographic distances.

The Worldwide P2P Market

Peer-to-peer lending, sometimes abbreviated P2P lending, is the practice of lending money to individuals or businesses through online services that match lenders with borrowers. Since peer-to-peer lending companies offering these services generally operate online, they can run with lower overhead and provide the service more cheaply than traditional financial institutions. As a result, lenders can earn higher returns compared to savings
and investment products offered by banks, while borrowers can borrow money at lower interest rates, even after the P2P lending company has taken a fee for providing the match-making platform and credit checking the borrower. There is the risk of the borrower defaulting on the loans taken out from peer-lending websites.

The goals of smart-contracts

The main aims of the smart-contract in the Gelios ecosystem:
1. Providing value from borrower to lender. Fixation of loan details. Return of the loan.
2. In case of delay — providing the loan to a collector and making arrangements between lender and collector.
3. When using the white-label personal area (the customized personal area), to offer to the lender (CPA model)                arrangements between the lender and the webmaster, in case of loan delivery.
4. Arrangements between lender and validators (the validator’s commission in case of borrower’s passport                        validation).

The Token’s Role

The token’s role is to provide value without hard commissions and regulatory issues. They use
their token in order that their platform may become independent of such circumstances as
changes in gas value, hardforks in the blockchain, etc.
1. Providing value worldwide
2. Microtransactions between parties
3. Secure way to stabilize platform (they can be sure that no hardfork will destroy ecosystem).

 

If you want more information, visit the WEBSITE and read the WHITEPAPER.

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