LendingRobot is Moving Investment Records to a Public Blockchain

Open ledger, accounting

Alternative lending platform LendingRobot has taken its first step toward moving the assets it currently manages to a blockchain.

As part of its newly launched LendingRobot Series of investment products, the platform – which has $120m worth of assets currently deployed – will begin to post detailed accounts of some of its investments to the public ethereum blockchain.

The investments themselves will still be conducted off-blockchain using the P2P lender’s existing infrastructure. But the process of hashing detailed, anonymized accounting records to a blockchain marks the beginning of a broader plan.

In conversation with CoinDesk, LendingRobot co-founder and CEO Emmanuel Marot explained how moving some of the workload to a blockchain in the future could make the platform more trustworthy, while at the same time providing opportunities for increased revenue.

“We’ve got machine learning to make the selection, we’ve got cloud computing to do the execution, and the reporting is a mix of web interface, mobile application, and the blockchain technology to ensure that we are not lying about anything,” Marot said, adding:

“Moving forward, I would love to be able to make the execution layer itself by smart contracts.”

Currently, LendingRobot uses a machine-learning algorithm to identify lending opportunities

Read more ... source: CoinDesk

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