Plavno is a company that has been making waves in the financial technology sector. They have successfully built a DeFi lending platform, which is a decentralized finance platform that offers lending and borrowing services using blockchain technology. The DeFi market is growing rapidly, with a valuation of over $40 billion, according to DeFi Pulse. Plavno saw an opportunity to revolutionize the traditional lending system and took it.

Exploring the Differences Between DeFi Lending and Traditional Lending

  • One of the most significant differences between DeFi lending and traditional lending is the level of decentralization. DeFi lending operates on blockchain technology, which eliminates the need for intermediaries, such as banks. Transactions are recorded on a public ledger, making them transparent and accessible to anyone on the network. On the other hand, traditional lending relies on intermediaries, such as banks, to manage and regulate loans, making it more centralized.
  • Another key difference is the interest rate. In traditional lending, interest rates are set by the bank, taking into account various factors such as inflation, market conditions, and the borrower's creditworthiness. In DeFi lending, interest rates are determined by supply and demand, meaning that the interest rate can fluctuate based on the number of borrowers and lenders in the market. This creates an open market for interest rates, making it possible for borrowers to get better rates and for lenders to earn higher returns.
  • Another difference is the speed of transactions. Traditional lending can take days or even weeks to process, while DeFi lending transactions are processed in real-time, making it possible to access funds quickly and easily. This is particularly useful for individuals who need access to funds in emergency situations.

The Pain Points of Traditional Lending

The Plavno team started by conducting extensive market research and identifying the pain points of traditional lending systems. They realized that the traditional lending process is slow, requires a lot of paperwork, and is not accessible to everyone. Plavno's DeFi lending platform solves these problems by offering fast, transparent, and accessible lending services to users.

The next step was to choose the right blockchain for the platform. After careful consideration, the Plavno team decided to build their platform on the Ethereum blockchain. Ethereum offers smart contract functionality, which enables the platform to automate the lending process, making it more efficient and secure.

User-Friendly Design and Advanced Security Measures

The Plavno team also ensured that the platform was user-friendly and accessible to users with varying levels of technical expertise. They designed a simple and intuitive interface that makes it easy for users to lend and borrow money. Additionally, the platform offers 24/7 customer support to help users with any questions or issues they may have.

One of the key features of the Plavno DeFi lending platform is its security measures. The platform uses multi-signature technology to ensure that users' funds are safe and secure. It also implements strict KYC and AML protocols to prevent fraud and money laundering.

Another unique feature of the Plavno DeFi lending platform is its interest rate algorithm. The platform uses an algorithm that adjusts the interest rate based on the supply and demand of loans. This ensures that the interest rate remains stable and fair for both lenders and borrowers.

Positive Feedback from Users and Industry Experts

Plavno's DeFi lending platform has received positive feedback from users, who appreciate its fast, secure, and accessible services. The platform has also been recognized by industry experts for its innovative approach to lending and borrowing.

In conclusion, Plavno's DeFi lending platform is a great example of how blockchain technology can be used to revolutionize traditional lending systems. The platform offers fast, secure, and accessible lending and borrowing services to users and has received positive feedback from users and industry experts. If you're interested in DeFi and lending, Plavno's platform is definitely worth checking out.

How to Build a P2P Payment App: Moving Toward a Cashless Future

The world is quickly moving towards a cashless future, as more and more people are turning to digital payment solutions such as mobile payment apps and peer-to-peer (P2P) payment apps. With the growing demand for digital payment solutions, businesses are increasingly looking for ways to provide their customers with a secure, convenient and reliable payment experience


Estimate Your Software Development Costs with Plavno New Product Cost Estimator

We announce the latest feature at Plavno Software Development - the Product Cost Estimator!

What You Need to Know About Embedded Software Development

In today's fast-paced world, embedded software development plays a crucial role in powering various devices that surround us. From smartphones to home appliances, automotive systems to medical equipment, embedded software is the invisible force that makes these devices function seamlessly.

This is what will

happen, after you

submit form

Vitaly Kovalev

Vitaly Kovalev

Sales Manager

Schedule a call

We’ll call you ASAP or Schedule a call

No more than 3 files may be attached up to 3MB each.
Formats: doc, docx, pdf, ppt, pptx.
Send request