Lending money is a concept that has been going on since the dawn of civic societies. The basic rule is you get to get money for lenders, and you will pay back the original amount plus the interests both parties have agreed on this. But life is unpredictable. You could fall victim to an accident. If so, you will fail to pay the money. They love their precious assets. Some people even lose their belonging, money, even their homes.
How could the Blockchain help in such cases? In Blockchain tech, you will not have to pay that extra interest rate. But how? Well, you don't need a bank or other financial organizations to transact using the blockchain. So, you could save tons of money.
That being said, you'll agree with me on the notion that Blockchain technology is the name of the new revolution that started to make its way into everything. That day is not far away when we'll be able to merge our digital and real-life industries fully.
It's just the start. You'll keep witnessing new and improved blockchain applications, making our day-to-day life much more comfortable.
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