Hacker News article Posted November 08, 2018 05:01:07The CovidLending Platform, or CVLP, is a new service that aims to make it easy for people to take out a personal loan from an accredited lender.
The platform uses blockchain technology to ensure all of the payments are fully verified, so lenders can’t use fraudulent or deceptive transactions.
CVLP also allows lenders to add a pre-approved borrower for a loan.
The platform is already used by over 100 lenders, but has attracted interest from the likes of Goldman Sachs, American Express, and others.
The company said it will be rolling out more lenders in the coming months.VCG, which owns CVLP and a number of other credit and financial institutions, announced a $10 billion funding round earlier this month.
CVLPs token will be converted into equity on the platform.
The initial investors will be listed on a blockchain-based platform, the company said.CVLP’s token will provide the company with liquidity in the form of interest on loan payments and payments to credit card companies, as well as the ability to issue loans on demand.
CV LP’s token holders will be able to use their CVLP tokens to fund a number on the company’s platform, including venture capital, acquisitions, and partnerships.
VCG, a subsidiary of SoftBank, plans to invest in more lending platforms.VCLPs are a decentralized peer-to-peer lending network that is also called a blockchain platform.
Investors, or “speculators,” can purchase CVLP shares on the digital market through a blockchain smart contract.
The share price on the CVLP platform, which is listed on the Tokyo Stock Exchange, is calculated based on the current market price of the CV LP tokens.
Investors can also buy CVLP on a private blockchain platform through a smart contract, or buy the tokens directly from the company.
A total of 8 billion CVLP are currently available for sale, according to the CVLP website.
The average CVLP value is currently about $1,700.CVLPs main advantage is that they allow lenders to reduce the time it takes to approve a loan by making the process easier and faster.
The CVLP token can be bought on a peer- to-peer platform or by issuing a preapproved loan through the CV Lending platform.
If lenders want to take advantage of this feature, they can issue a loan on demand and get it approved in about 45 minutes.
The loans can then be transferred directly to CVL Pays, the CV Loans website, or the CVP platform itself.