AI-driven Decentral Autonomous Bank
Our long-term goal is to deliver AI-driven Decentral Autonomous Bank. It's the bank that has all the same capabilities as TradFi custodial banks. But clients control their assets - not the bank.
SmartCredit.io started as a fixed-term, fixed-interest borrowing platform. However, our long-term vision is to launch an AI-driven "Decentral Autonomous Bank" (DAB).
DAB offers the same functionality that traditional banks offer. However, the DAB doesn't control client assets as traditional banks do, but the clients have self-custodial asset custody. The clients choose which services of the DAB they use. The clients are not stuck with the service provider; they can switch anytime.
The key functionalities of traditional banks are:
Feature | Status |
|---|---|
Self custody | available via self-custodial wallets |
Payments | available via self-custodial wallets |
Credit and Lines of Credit | |
Lending and Fixed Income Funds | |
Investment funds | Pending |
Fiat conversion on-ramp/off-ramp | |
Credit Scoring | |
Uncollateralized credit | Pending |
Transactions Monitoring | |
KYC | Implemented, full activation after FATF regulations are introduced |
When DAB gets implemented, there is no need for traditional banks anymore. Everyone will need only his wallet and access to app.smartcredit.io.
Last modified 18d ago