My ideas to improve the “Goldfinch”

Erik Tverskoi
2 min readSep 26, 2021

1). Make really decentralized storage of funds. Funds are stored one way or another on the side of the project organizers, from where they can be stolen.
2). Insurance. In case of mistakes in smart contracts and, for example, making erroneous transactions, incorrect determination of the rate, no one will compensate users for their losses.
3). Improving the technical implementation of the project. There is a significant risk of hacking and loss of funds as a result of a prepared hacker attack. As an example, the situation with the Chinese platform dForce Foundation, when it lost more than 99% of its assets during an attack by intruders.
4). The user interface is as simplified as possible. This can be a serious obstacle to the popularization of projects among not enough advanced businesses.
5). Introduce the concept of “reputation systems”. Automatically increase and raise the amount of funds allocated from the pool for verified borrowers.
6). Introduce the possibility of taking loans not only to a specific company, but also to a group of companies, if necessary. For example, it would help in solving a common problem by several companies, and it would be much easier to be audited by investors because the loan has several guarantors at once.
7). Allow borrowers to take several loans for different purposes, thus diversifying risks.

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