Brotherlylend is the new innovative and revolutionary secured lending platform which allows everyday people with investments in cryptocurrency to take out loans using cryptocurrency as secured assets. The platform provides loans in fiat currencies from around the world holding users cryptocurrency for them as collateral in a secure wallet. While your average wallet just keeps users cryptocurrency on their behalf Brotherlylend gives the opportunity to take out loans 0% Interest. Once the loaned sum is repaid we will release funds for users or they can take out another loan.
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The early adopters of the cryptocurrency soon realized that the implications of blockchain were far-reaching. As time passed, the value of early cryptocurrencies rose tremendously. At the time of writing this whitepaper, one BTC is equal to 6,688USD. The value is enormous and those who own bitcoins would never want to trade for a Big Mac or a Starbuck’s Cappuccino. If that does not make sense, then answer this question. Would you sell your house to buy a slice of pizza.
The answer to that question is exactly why those who own Bitcoin, Ethereum, Ripple or
other similar currencies would not want to trade their cryptocurrencies. However, such
a trend will freeze the cryptocurrency markets. No one will ever want to sell their house
(cryptocurrency) to buy a cheeseburger.
BrotherlyLend has arrived to solve that exact problem for those who own these highly volatile yet exponentially valued cryptocurrencies. Rather than forcing these individuals
to shell out their cryptocurrencies in the market, there has to be a solution that
promotes the use of cryptocurrencies while keeping everyone happy. BrotherlyLend
achieves that by allowing owners of the cryptocurrencies to take out loans against their
In this model, cryptocurrencies will act as securities that investors can use to get some
cash in their hands. This will keep coins flowing in the blockchain market, as borrowers
will now be able to make small purchases with the loan they get. At the same time, they
never lose the ownership of their crypto-coins. When they return the loan amount as
per the terms and conditions, their investment comes back to them.
The Vision of BrotherlyLend
One of the misconceptions about money is that it has to have a form. When you imagine
money, you think of banknotes and coins. However, that’s a very limited and narrowed
way of defining money. According to the famous journalist and hacker, Yuval Noah
Harari, anything that you are willing to exchange for another thing while trying to match
their values is currency. In the past, people used to do barter trade. In those times,
everything exchangeable in the market was money i.e. salt, spices, meat, etc.
Making the Platform Operational in Major Global Markets
This will be the initial phase of putting the platform in the practical world for use. The
last quarter of 2018 will mark the inception of the platform. At this stage, the
developers of the platform will be constantly working to optimize it for the borrowers in
various parts of the world and on virtually all the major mobile and desktop devices. The
first major markets in which the platform will be available include American, Asian, and
Legality and Compliance of BrotherlyLend
BrotherlyLend is a limited company that facilitates owners of crypto-coins in obtaining
loans in the form of fiat currency. In the process, BrotherlyLend accepts the
cryptocurrencies from the borrower as a security/collateral. It is a completely legal
entity with registration in United Kingdom. The company will operate legally and for its
operations, it will partner with institutions that provide loans in the form of fiat
currencies. All the transactions will take place only after obtaining the proper financial
licenses and formal signing of the contracts.
Sharmarke J Mohamed
Jamie Williston Full Stake DeveloperFounder & Managing Director
Adam Chandler Head Bussiness Developer
Siobhan Ben-Avi Community Manager
Jack Mills AML/KYC Specialist
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