The digital platform provides loans which are secured by car titles and some other related services. The users of the system are borrowers and investors who connect online. Shift cash operates on the ethereum platform and accepts payment using ETH, BTC, and LTC. Shift cash is an Austria technology with the minimum investment to the system set at 0.1ETH. Shift cash trades at a price of 1SCASH=0.0018ETH and accepts tokens purchasers globally.
The lending platform will be based on smart contract-a blockchain application. The use of the latter technology will ensure that creditors, investors and borrowers within the SHIFT ash system are able to interact do business regardless of the geographical barriers. SHIFT cash employs the use of the shift cash application. The app will be a smart algorithm for assessment of secured loans. Still, the app will facilitate the process of processing data-on big data technology and records transaction in the blockchain system.
The system will work as the borrower will need to input the app first –Shift cash app. Registration is a must process and when all the transaction is complete the next borrower will input into the platform, the whereabouts of his/her car or any assets of similar nature. The app will provide an avenue for the user to provide/upload all the car details including a photo of the same.
The user at this juncture will have a full access to the car evaluation function and he will be in a good position to calculate the amount based on the regional database and Shiftcash integrated module.