ShiftCash - shift your car title into cash
SHIFT.cash is the first global tokenized platform for car title loans. We connect the market of secured (or low-risk) lending with the world of crypto-currency and give the opportunity to solve financial issues for a billion car owners.SHIFT.cash gets rid of barriers to access the global financial system, uniting secure credit organizations around the world into the largest online banking. Our blockchain platform will calculate the risks with high accuracy and ensures the investment of your funds in a fast-growing and less volatile market - loans secured by property.
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Basics
| Platform | N/A |
|---|---|
| Type | N/A |
| Accepting | ETH |
| Circulating Supply | 30% |
| KYC | N/A |
| Restricted Areas | N/A |
| Homepage | Website URL |
| White Paper | View/Download |
About
How it works
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The Borrower installs the SHIFT.cash application on a smartphone and goes through the usual registration procedure for online banks: entering personal data and scanning the passport.
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Next, the borrower enters information about his car - the collateral. Here, with the help of the application, the user adds a photo of the vehicle and the car itself.
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Now the user has full access to the car evaluation function and the calculation of the available loan amount. Based on regional databases, the integrated module SHIFT.Appraisal determines the market value of the car and its liquidity ratio.
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To calculate the interest rate, an "intelligent" algorithm adjusting the rate is used, depending on the loan amount. At the same time, the maximum loan amount does not exceed 35% of the market value of the car.
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In order to get a loan, the user must undergo a verification procedure. This can be done in person at the nearest SHIFT.cash office or remotely by making a photo of the car with a special QR code installed under the windshield, preprinted on a sheet of A4 paper.
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After approval, the borrower gets the money to his account created in the SHIFT.cash system. Payments can be made with the support of mobile services like Apple Pay, Samsung Pay and Android Pay. Also, you can attach a virtual or plastic card to the account SHIFT.cash
