Grant_Amplify

Demo

About

The problem it solves ## Grant_Amplify is a blockchain-based peer-to-peer lending platform that allows ordinary people to obtain loans without the inconvenience of dealing with banks or local lenders and eliminates the cumbersome screening and paperwork procedures. There are two main parties that provide loans to people, those are -: ## Banks * Banks provide loans at a very high-interest rate and they have a very lengthy and biased screening process. * Following the 2008 recession, obtaining loans has become even more challenging due to the widespread issue of people being unable to repay the loans they received, and the inability to sell their properties due to the properties plummeting value. * Banks are hesitant to take risks and often exhibit biases based on factors such as caste, religion, and financial background. ## Lenders * Lenders take high and unfair rates of interest where the entire power lies in their hands and leaves the borrowers vulnerable to exploitation. * The lenders hold the authority to raise the interest rate beyond the initially agreed-upon amount at a later stage.