BankSocial leverages blockchain technology to adopt governance for all community members and implements DAO in support of social consensus lending
– John Wingate
DALLAS, TX, USA, Aug 5, 2021 /EINPresswire.com/ – BankSocial â¢, the first peer-to-peer social consensus lending platform to be secured by blockchain, has taken the first steps to bring implementing governance for all BSOCIAL token holders. By providing community members with a mechanism to influence the development of its lending ecosystem – in the absence of a third-party regulator, BankSocial â¢ is moving closer to issuing its first asset-backed loans to businesses and businesses. individuals.
BankSocial’s innovative approach to lending is based on its innovative technologies that will enable community members to participate in the lending process. By providing BSOCIAL token holders an active voice in the development of the first blockchain social consensus lending platform, BankSocial â¢ continues to refine its BLOCKSCORE â¢ technology that will leverage traditional social credit scoring and new generation to determine the creditworthiness of the borrower. Through its governance system, all BSOCIAL token holders will have the opportunity to vote on community proposals, thus strengthening their position in the first financial system designed and managed by ordinary individuals.
John Wingate, CEO of BankSocial â¢, said: âThe governance and development of a decentralized autonomous organization, or more commonly known as DAO, are essential steps in placing the power of decentralized finance in the hands of our token holders. . As members of our community will fund loans for others and share in the value created by doing so, it is essential that the voices of the holders be part of the direction of future development and governance. Blockchain allows us to quickly implement new community-generated ideas as social consensus continues to create value for every token holder in the community.
In addition to introducing governance for its token holders, community testing is currently underway for BankSocial â¢ wallet application which allows an individual to hold and trade a variety of cryptocurrencies and will play a role. essential for users when peer-to-peer lending begins. In addition, BankSocial â¢ recently announced that it has selected the Polygon network for the development of its proprietary side chain solution.
BankSocial â¢ is a peer-to-peer social consensus lending platform that is revolutionizing the way blockchain is used for lending. For more information on BankSocial â¢, BSOCIAL tokens and other BankSocial â¢ products, visit https://news.banksocial.io.
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