Is this a new BTS competitor ?

[yvv]

No, it is not the same as bitshares.

Loan Creation: A borrower sends collateral to the SALT Oracle Wallet and the funds are transferred to the borrower’s bank account*.

No pegged assets, you get cash in your bank account.

[nomoreheroes7]

Regardless, it doesn't look like it's planning to launch until Q4 2017 -- Summer will be over by then.

 

[Permie]

Will the BitShares Bond Market compete with SALT?

Members are not required to have blockchain assets to become a lender on the platform. Lenders must be accredited investors under Regulation D of 17 CFR § 230.501 et seq. in the United States under the Securities Act of 1933 and the U.S. Securities & Exchange Commission, and have passed SALT’s Lending Suitability Test. SALT indicated it planned to license the technology to existing lenders and regulated entities such as Broker Dealers, Private Equity funds, family offices, etc.

BitShares enables this functionality via UIA whitelisting.

Is SALT reliant on Ethereum architecture?

[Permie]

The new lending platform, which is built on Ethereum ERC 20 smart contracts, enables borrowers access to what is described as “capital-on-demand” through its network of lenders. The upshot is that this helps preserve the value of investor holdings.

So it's reliant on the Ethereum blockchain?

If so, then this is not new competition. Ethereum is inferior in it's economic model and technical implementation to BitShares 2.0

The key innovation of the blockchain is its distributed, peer-to-peer ledger.

This smells like the fishy bullshit banksters like to say. Maybe not

SALT want's to allow crypto-bulls to "cash in" some of their investments without actually having to sell any of their beloved stake. SALT want to allow you to trade your crypto the them, or their "oracle" (inferior to BitShares' Witness') and they will lend you a fiat amount.

CryptoHolders can already use BitShares to borrow money in the same manner that SALT  want to offer.
BitShares' users can short bitUSD to take out a loan against their investment.
Lacking hardware wallet support, many holders may not feel comfortable risking their entire stake just to take out a loan to spend early.
TREZOR and multicoin wallets will solve this issue.

In order for BitShares holders to take out a long term loan on the value of their bts collateral, they have to be very sure that the bts-price will not decrease by more than 5x ever again.
500% bts collateral, in order to borrow 1/5th of the value of their bts-collateral.

SALT may be able to offer better rates, and be competition for BitShares.

However, if SALT lives or dies by the successes of Etherium then BitShares will come out on top.

[mike623317]

SALT - interesting. Need to find out more.

[toknormal]

Hi

Reading the description of this blockchain model, it's doing exactly what Bitshares is - leveraging base collateral to produce pegged assets. Is there any difference from the Bitshares model ? I can't see any.

https://www.forbes.com/sites/rogeraitken/2017/05/19/disruptive-blockchain-backed-salt-loans-platform-in-launch-to-leverage-bitcoin-assets/#5531b69727cc