NV 2.0 Community Update
We would like to wish the community a heartfelt Thanksgiving. We are truly grateful for the continued support and patience that the community has shown us. We want to take this joyful occasion as an opportunity to share some updates with the community.
The year 2020 with the pandemic has proven to be a crucial time for the team, while it impacted businesses globally, it has given us the much needed strategic time to slingshot and re-position ourselves as a product, keeping in mind the real use case.
We have had our heads down with our core research team, customers, and partners, have understood:
- Customer pain points
- Industry trends
- Developed a Product roadmap
- Improved technical viability
to solve a global retail problem by leveraging our background and strengths.
During the Pandemic, consumers in emerging economies have made the greatest shift to online shopping.
A McKinsey Report states that the smaller-ticket (less than $500) POS loans, which are estimated to total $8 billion to $10 billion in 2019, are growing at rates exceeding 40 to 50 percent.
To facilitate this, “Technology-backed point-of-sale (PoS) financing that provides short-term consumer loans is disrupting millennials’ use of credit cards and traditional loans.”
These changing dynamics within the lending and payments space has placed various retailers in a fix. Understanding the needs and behaviors of an empowered borrower in today’s world is highly critical for retailers.
How do we plan to solve the retailers dilemma?
During the COVID-19 crisis, DeFi platforms were facilitating lenders and borrowers to transact without the traditional gatekeepers of loans: banks. These loans on such platforms have risen more than 13x to over $13 billion leading to a DeFi boom.
With the massive growth within the DeFi space we realise there is an opportunity for us to unearth a real world use that is decentralised and is powered by digital assets.
We believe we have found a solution that will change consumer lending in retail forever and we will be releasing more information on this soon. Stay tuned !!!
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Disclaimer:
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