The development of Lndr continues at full speed. We’re very happy with the progress we’ve made and want to share some updates on its progress. Although technical, you can always view the ongoing progress on our github at https://github.com/blockmason
For those who weren’t familiar with our beta version of Friend in Debt, which was our internal name for what has now become Lndr. The basic idea behind Lndr is a permanent, immutable and double confirmed debt between two friends on the blockchain. Let me give you an example. You and another friend go out to dinner and one of you pays the bill. You want to record that the other person owes you money, but don’t really care about her paying you now. You just want her to pay for the next dinner or something. With Lndr, you can record that debt and then next time when your friend pays for dinner she can erase that debt.
So why is Lndr on the Blockchain? What benefit are we getting? One thing that we have to remember about every other non blockchain app in the universe is that the data stored within them is impermanent. What does it mean for data to be impermanent? It means hackers can come in and change it, the company storing the data can change it or the company could go out of business and all your data could disappear tomorrow. But with the blockchain, that doesn’t happen. As long as the Ethereum blockchain keeps chugging along, the data stored in Lndr never disappears. If Blockmason one day stopped supporting Lndr and there was no version available for your iPhone XXI another company could easily build their own front-end and tap into that same exact data set. That data will always be there and when you boot up this new app by this new company the same exact debts and credits you had with your friends before are still there.
Another gigantic advantage of the blockchain is that unlike banks, the blockchain doesn’t discriminate. Even if a bank won’t give you a bank account, even if you can’t get a credit card, the blockchain will let you use its payment network. This won’t be implemented until version two, but Lndr allows for the settlement of debts with cryptocurrency. This means there is a universal banking solution for everyone, everywhere in the world.
There are so many other things to write about how amazing Lndr is and how amazing the Credit Protocol is, but for now let’s talk about where the app stands.
We are preparing for Lndr to be released very soon to the Android App Store and the Apple App Store. Our basic version with initial functionality is nearly prepared. This means that you will be able to add friends and double confirm debts and credits through the Ethereum blockchain. We’ll be following releasing more posts soon about Lndr’s features and other cool things that can happen with crypto because of Lndr’s existence.