In a couple of weeks the Finovate Europe 2015 conference will be held in London. This February conference, held in the UK’s capital, is the place to be if you are interested in banking and technological innovations. The purpose of this great conference is multi fold. The first aspect is to introduce new innovative ways to the financial sector. The obvious networking and exchange of ideas are a couple of others but the showcase is one of the most important aspects of this conference.
The showcase part of the conference is where start-ups and experienced businesses show off their know-how and products in a: presentation, speech, video or a combination of both. The initiative to host an “innovative conference” was proposed and organised by the Finovate Group, because innovation and creating new products are key for the survival of businesses.
Now who or what is the Finovate Group? The Finovate Group was created in 1995 and focuses in on research concerning banking technology. Some might have heard the name if you have read their top notch research concerning banking and their publication of the “online banking reports”. They also run the hugely popular blog called NETbanker.com. They organise 3 events: 10th and 11th February in London, San Jose the 12-13th of May and the last one will be held in New-York on 16th and 17th September.
So why write about Finovate conferences? There will be a Bitcoin company attending called Bitbond. Bitbond is a Bitcoin lending peer-to-peer lending platform. The people that are looking for funds can create an account on the Bitbond platform for free. After a thorough credit check, the people can post their loan on Bitbond. Once on Bitbond, the Lenders can see the loans and decide which loans they want to fund. That way a lender can build a diversified loan portfolio.
Bitbond grasps the use and technology of Bitcoin very well and weaved it seamlessly in their business structure. By using and treating Bitcoin as a valid payment/lending currency, Bitbond is allowing for fair lending practices. Using Bitcoin will also provide the potential start-up with a much sought after capital injection so they can grow and build up their business. The only thing that users need is an internet connection to participate in Bitbond’s global loan market.
This makes investing and borrowing through Bitbond extremely easy for both parties. The only thing that borrowers and lenders require is an internet connection. There are and no bank accounts required. This means that anyone that lives outside developing countries can lend money to these start-ups in those countries. The fees for lenders are 0% while the average interest rate is around 18% p.a. In so doing Bitbond created a frictionless access to a global loan market for both borrowers and lenders.
Bitbond can be called a rising star among the Bitcoin start-ups. Bitbond opened up for business in 2013. Since then they have had over 470 loans were created on the platform. Bitbond has more than 7 000 users from over 120 countries that have signed up as either a lender or a borrower. Bitbond also secured a whopping USD 267,000 in August last year from the Berlin based venture capital firm Point Nine Capital and from BillPay CEO Nelson Holzner.
Bitbond co-founder & CEO Radoslav Albrecht said to CryptoArticles: “We are very excited to be able to showcase our start-up at FinovateEurope. This will allow us to present our new AutoInvest feature in a 7-minute live demo at the fintech conference FinovateEurope London on February 10th, 2015.
The new AutoInvest feature gives the lenders the possibility to automatically allocate their funds according to their personal investment profile. Lenders can define the investment amount, geographical regions, risk categories and base currency of the loans they want to invest in.
FinovateEurope gives us the opportunity to showcase our innovative product to a highly relevant audience. We look forward to demo how we build financial services on top of the ever growing popular digital currency called Bitcoin. By utilizing Bitcoin we are reaching a global user base, and more importantly, those people who do not have a traditional bank account”.
Even the Finovate founder Jim Bruene was extremely interested in what Bitbond has to offer. Mr Bruene said: “We’re excited to have Bitbond demo at Finovate Europe this year. Their solution which allows individuals to invest in a globally diversified loan portfolio at 0% fees is something we haven’t had at Finovate before. Moreover, Bitbond is the first company to pay for tickets with the digital currency Bitcoin. I hope that others will join them in doing so at our upcoming events.”
We at CryptoArticles love the work that Bitbond is doing, using Bitcoin as a true currency while allowing anyone to borrow or lend and we will keep you all updated on the news about Bitbond.