Shelf.Network presents decentralized auctions

Currently focused on automotive trade Shelf.Network plans to expand to Eastern European used-car market with their new auction platform
05 March 2018   641

Auctions are a great help, when you want to find a buyer for your product, but there always is a hassle involved in managing auctions on multiple marketplaces. Shelf.Network aims to simplify this process. The team is building a new distributed network to synchronize an auction instance on several interconnected platforms.

The platform was already tested in 2015 and 2016 on Ukrainian market with governmental partnership, and now the team plans to expand to three markets in Eastern Europe. One of the target markets is a secondary car market. They have already partnered up with four marketplaces and six leasing companies.

Now the company want to scale its services and add Western European suppliers. This will allow it to enter huge-revenue automotive auctions market. The preparations for opening for general public and tokenization are also underway.

Essentially the project is about creating a more realistic and widespread case of blockchain utilization, so that general public will see the benefits of blockchain and its usefulness up close and personal, not just as another gimmick or a digital collectible. And, of course, auctions can garner great profits, especially with the tools that the company promises to implement in future, such as one-click auction marketplace deployment and adding commodity and collectibles trading, beyond the current automotive trade scenario.

Australian Company to Issues Crypto Backed Loans

In case of default, financial company named Helio may sell cryptocurrency to cover losses
10 December 2018   89

Helio from Melbourne began issuing loans secured by cryptocurrencies, Bitcoin.com reports.

The service allows Helio clients to borrow from 1000 Australian dollars ($ 720) on the security of cryptocurrency assets. At the moment, the company accepts Bitcoin, Ether, Litecoin and Ripple.

Helio client crypto assets are stored in a secure wallet, company representatives say. In case of default, the company may sell cryptocurrency to cover losses.

Helio has a credit license (ACL) issued by the Australian Securities and Investments Commission (ASIC). As stated by the company's founder, John O’Shy, Helio was the first licensed organization in Australia to launch this service. According to him, the country has a developed cryptocurrency market, however, suppliers who want to provide loans secured by digital assets are not enough.

In June, the Japanese corporation Abic Corporation began to issue loans secured with Bitcoin