Dubai UAE — June 24, 2021 — At Dubai, the emerging capital of blockchain, DLN, the Decentralized Lending Network today announced the successful completion of the DEVxDAO grant for Developing DLN Social Smart Contract and DeFi Treasury Investment Policy.
DeFi (Decentralized Finance), makes headlines daily. Public perceptions run the gamut: Excitement, confusion, optimism, suspicion. Financial institutions around the world recognize that the promise of the blockchain presents them with an existential crisis unlike any they’ve ever experienced. Yet, beyond the relatively small population of crypto enthusiasts dotting the planet, few understand what the blockchain is, or how it’s going to benefit anyone but the wealthy.
Popularized by the best-selling, autobiographical, Nobel Prize-winning book Banker to the Poor by Muhammad Yunus, there are, today, 1000s of MFIs around the world. In the simplest terms, they provide affordable loans to the world’s unbanked. Unfortunately, there are nearly 2 billion unbanked adults, and the thousands of MFIs out there are not nearly enough.
Enter DLN. DLN, or the Decentralized Lending Network, stands at the crossroads of DeFi and Micro-lending. It is a new set of rails, developed to help Microfinance Institutions (MFIs) around the world scale, and showcases the power and promise of the blockchain to make a positive impact on the world.
DLN was developed to help these MFIs meet the challenges facing them, to ensure they can profoundly expand their reach, and provide infinitely more aid to the communities they serve. In tandem with the efficiencies inherent in the blockchain and patent-pending tech, MFIs using DLN will provide: 0% interest financing for borrowers ROI for borrowers’ communities ROI for MFIs, and their donors and lenders
“I’m thrilled to see all this support by DEVxDAO to truly unlock blockchain’s true potential for mainstream masses,” said Dr. Adel ElMessiry, President and founder of AlphaFine.
“In order for blockchain technology to achieve its full potential, new innovative systems that serve the real-world need to be researched, developed and implemented.”
“Microfinance is a huge industry with an estimated $350 billion capital locked in the next few years. The current infrastructure is clearly outdated and needs to be updated with a system that is much more efficient and transparent. Utilizing blockchain will achieve those goals while serving billions of underbanked all over the globe.”
About Decentralized Lending Network
Decentralized Lending Network, Introducing a system that lifts billions out of poverty and rewards all stakeholders. DLN is the future of Microfinancing, a future in which Microloans are easily accessible, rapidly distributed, and plentiful.
More information on the DLN official website
The DEVxDAO provides grants to build cohesion and longevity in decentralized systems at large. You can find more information on the official DEVxDAO portal