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Title: The Lending Club Lesson Post by: BruceSwanson on June 11, 2016, 12:18:16 AM NPR has a story about The Lending Club (http://www.npr.org/sections/alltechconsidered/2016/06/10/481474919/with-lending-club-disgraced-an-industry-looks-for-lessons) that contains the following quote:
Quote The scandal started with a very big no-no: Employees of Lending Club went into the company database and doctored loan applications to make them look more appealing to investors. . . . 'Once the loan application has been made, that data is sacred,' says Peter Renton. 'That data should never be tampered with, never should be touched in any way.' . . . 'If you don't have oversight, so the regulation is actually being implemented and adhered to, then there's a problem,' he says. Someday such companies will be required to hash such loan applications and then publish those hashes on the BTClockchain as a form of public accountability, similar to the way legal notices are published in newspapers. That way you would "have oversight, so the regulation is actually being implemented and adhered to." Someday. Title: Re: The Lending Club Lesson Post by: rindo on November 26, 2017, 02:45:16 PM Lending Club is one such initiative: the site provides dollar loans at competitive rates, without the need for any bank mediating the transaction, since the loans are made directly between the lender and the borrower.
For poorer populations, there are even more affordable alternatives. A good example was Kiva. With the motto "Loans that change lives," the platform focuses on microloans. Usually requested by people wishing to take some course or buy a small work equipment. The loans do not bear interest and can be paid in several installments. These are decentralized platforms, which eliminate costs with intermediaries and processes, making funds more accessible to entrepreneurs around the world. Title: Re: The Lending Club Lesson Post by: gentlemand on November 26, 2017, 02:51:07 PM Can anyone point to any real world examples of immutable information using BTC or whatever yet?
I know there are tons of propositions, but it would be nice to see some links where it's already being regularly put into practice. It's ready to go now. |