What is blockchain credit (is blockchain finance pyramid schemes)
According to Lianta Think Tank, blockchain credit is mainly divided into two types: the first is mortgage loans in traditional lending business and letter of credit transactions based on smart contracts. The second method is to use encryption algorithms to achieve the conversion between asset prices and debt values, as well as information exchange between debtors. The advantage of blockchain technology in the credit industry lies in its immutability, decentralization, and other characteristics, which make it less easily manipulated by attackers. The third is that blockchain credit can provide financial institutions with the ability to execute contracts
Is blockchain finance a pyramid scheme
According to Sina Finance, the “Future on Chain · Blockchain Finance” forum was held in Hangzhou on April 8, 2018. At the meeting, in-depth analysis and discussion were conducted on the development prospects of blockchain technology and its impact on the industry. Some experts believe that the ‘off chain world’ is the beginning of a new concept that will help people find ways to create value, rather than pyramid schemes. Another analyst said, “From this perspective, is blockchain finance a pyramid scheme? Whether it is a pyramid scheme depends on regulatory oversight
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