LendsBay makes it possible to borrow money very quickly and easily—concluding an agreement in accordance with the laws of a particular country if necessary—to look for investors or borrowers from your own social circles or just to keep track of your debts, while also making it possible to have your accumulated positive credit history in Lendsbay taken into account when obtaining future loans: in case you move to another country or apply for a bank loan.
|2016 - 2017||- Createding a web prototype.
- Market research.
- UX testing.
- Builtding a financial model.
- Developed the server and user part of the application.
|JUNE 2018||- Conducting a pre-ICO.|
|JULY 2018||- Release of the beta version of the app for Android/iOS.
- Developing the legal component (loan agreements, lawsuits, debt collectors).
- Establishing ratings and pricing mechanisms.
|SEPTEMBER 2018||- Carrying out an ICO.
- Converting tokens, connecting to the app.
- Adaptation for Telegram.
- Connecting to a credit bureau.
- Connecting to telecoms/online credit history providers.
- Entry into the UK and US markets.
|MARCH 2019||- Creating social groups: Co-workers/University.
- Linking to a payment system.
- Implementing the social ratings system (proximity rating).
- Implementing the behavioural ratings system.
- Creating an API.
- Entering developing markets.
|SEPTEMBER 2019||- Implementing the blockchain ratings system (LBR): distributed accounting and storage of ratings data.
- Constructing a ratings model based on multiplicity of data.
- Providing the suppliers of goods and services with secure access to the ratings system data to create their own ratings.
- Granting financial organisations secure access to ratings data.
|FEBRUARY 2020||- Creating a universal rating for economic relations (LBU).
- Creating various ecosystem elements.
- Building a consolidated ecosystem of transparent relationships.