In today's Daily Five, we are sharing five articles from Crypto Trader News that tell us how cryptocurrency is helping the unbanked and under served through credit and lending, and peer-to-peer services for basic necessities.
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- Bitcoin: A Creative Solution For Universal Basic Income
- What is Cred.Club?
- What is Lend Up?
- What is DrawBridge Lending?
- 50% of the World to Use Bitcoin by 2020
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Video Transcription:Hello cryptopreneurs and welcome to the Daily Five where we are going to share five articles from Crypto Trader News that tell us how cryptocurrency is helping the unbanked and under served through credit and lending, and peer-to-peer services for basic necessities.
Be sure to check out our show notes for links to the full articles.
If you haven't done it already, please subscribe to our YouTube channel and visit us on cryptotradernews.com where we have daily articles in and around the crypto and blockchain space.
The idea of Universal Basic Income is not really new. UBI is supposed to help find solutions for issues we face today in these two questions: How can we make a living with the absence of jobs? And - What would you do if you received unconditional payments - for just being you? In this thought piece, we hypothesize about the benefits and pitfalls of a Universal Basic Income.
Cred.Club is a startup that is tackling the banking underserved in a unique way. Specifically launched in India, CRED members have an opportunity to build up their credit scores while enhancing their financial portfolio. They're doing this with incentives and fantastic deals – but to find out more, you'll have to visit the link in our show notes.
Have you ever heard of a PayDay Loan? It's a kind of a legal loan shark mechanism where people who can least afford it get a quick loan - but often pay higher fees with a really strict payback structure. And why is that? Well, because most of the time the underserved bank clients are high risk and more often than not, desperate people turn to these kinds of loans to get out of a financial jam. LendUp takes a different approach by offering responsible loans with the ability to increase your credit with good behavior – and it's initiatives like these that will completely disrupt the loan shark lending market!
DrawBridge Lending offers fiat based loans using your Bitcoin as collateral and they give you a pretty strict payback schedule. And here's something that may surprise you. DrawBridge Lending operates in the United States complying with several states' regulations. Your crypto is secured in cold storage so that's safe - but enter first with word of caution - their Bitcoin prices are usually way below market value and their interest is markedly higher. But like any lender, be sure to read the fine print. To find out more about them, visit the link in our show notes.
And finally, on The Daily Five, we are projecting that 50% of the world's population will be using Bitcoin or some other cryptocurrency by the year 2020. Mainstream adoption is here and Pandora's box is open. So good, bad, or ugly, cryptocurrency is helping people survive in economically volatile countries with corrupt governments right now! People are using Bitcoin as a digital form of exchange to buy real world items like food, utilities and medicine.
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