Market Problem and Credefi solutions

Further, many consumers must resort to payday lending operations to cover liquidity shortfalls. This is one of the many issues we are looking to solve with Credefi.

The current financial system is not transparent. Bank customers have very little information on the financial health of their bank and must place their faith in the limited government insurance on their deposits. Bank customers seeking a loan find it difficult to determine if the offered rate is competitive. Credefi is developing a unique system, where the loan system will be fair, both for the lender and borrower.

Another problem the market is facing — the financial system is siloed. Moving money from one institution to another can be unduly lengthy and complicated. A wire transfer can take three days to complete. This problem is well-known, and some attempts are being made to mitigate it. Credefi uses blockchain to make transactions as fast and cheap as possible.