Maker DAO has developed its DAI token to offer cryptocurrency lending, using ether as collateral to secure DAI tokens. The system allows individuals to trade on the margins, buying more DAI with ether. Pro Venture Capital Traders have used the loans and analysts say the system could be expanded to include personal and business lending without satisfying the demands of traditional banking. In a recent interview with CoinDesk, founder and CEO of Proven Capital, Alex van der Meulen, said that he believes blockchain technology is going to change how people do business.
Maker DAO has developed its DAI token to offer cryptocurrency lending, using ether as collateral to secure DAI tokens. The system allows individuals to trade on the margins, buying more DAI with ether. Pro Venture Capital Traders have used the loans and analysts say the system could be expanded to include personal and business lending without satisfying the demands of traditional banking. Maker DAO’s token is a stablecoin, tokens which have become an important source of crypto market liquidity and which allow traders to use as a place for funds to be held during crypto volatility.