Loans and lending in the age of cryptocurrencies

Ever since the concept of value and currency came into humanity’s grasp, people have also come to terms with inadequacy, which, if not alleviated, may ensue dire consequences to the afflicted.

To combat this in an immediate fashion, The concept of loaning and lending currency, goods, and services have been instated to help offer quick alleviation to the individual, or the enterprise, with the promise to be upheld that when things go better for the debtor, they are to pay, sometimes with interest stated in contracts or verbal agreements.

Now, as we inevitably shift to a new age of currency, where everything is decentralized, how will the nature of debts change?

The process of lending may stay the same, at least in its current form, where most debts are made and considered digitally, and then sent to the proprietary beneficiary. The manner in which it is recorded may improve. The introduction of blockchain in the system, especially for cryptocurrency debts may allow for easier tracking, recording, and payment, as all of it can be done in a very accessible manner.

This is but one of the endless plethora of benefits and new challenges that the global adoption of cryptocurrency could open for the people and every enterprise out there. This only ever reinforces the need of the public for a new system, in which in its basic forms, transactions are made efficient and cheap, so as to not break the bank and cause unforeseeable problems for the people.

Good thing we have CUDOS, a project that aims to improve the current foundation with which the industry is built by employing a cloud computation PoS system, that will make each transaction faster, cheaper, and more reliable.

CUDOS is a big promise to the people and everyone who dabbles in the cryptocurrency industry, whether they know about it or not.

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