CCN recently published an article about the various ways that you can get a small business funded in the cryptocurrency sphere, but we didn’t do the crowdfunding segment justice.
As such, it’s time we covered a company called BitBond, which is based in Germany, which facilitates crowdfunding in much the same way that BTCJam does. However, because of the problems that BTCJam has had, our first question for Chris Grundy, a representative of the company, was how they can ensure that funds are repaid. After all, a Bitcoin loan can very much be like a cash loan, in that once the debtor has secured the funds, they’re free to run.
Also read: Bitcoin Loans Are Still Loans in Kentucky
Credentials can be falsified with impunity via the DarkNet and other means so that even a seemingly thorough vetting process can let through a bad apple or two. Indeed, to this day, despite advances in its platform, BTCJam has managed