Bitcoinist spoke with the team from P2P lending platform INLOCK on how its platform solves the spendability problem for users of Bitcoin and other cryptocurrencies while providing the option to remain ‘hodlers’.
Wanted to ‘hodl’ when you should have ‘sodl’ or vice versa? Despite incredible potential, the nascent cryptocurrency industry is still behind in terms of financial services and tools that offer flexibility when compared to traditional finance.
P2P lending platform InLock wants to change this by enabling cryptocurrency to be used as collateral for a loan in fiat — effectively solving the short-term spendability problem. At the same time, borrowers can remain ‘hodlers‘ with the option to get their cryptocurrency back in full after the loan is paid off, regardless of any changes in price.