How will collateral be held by the lenders?
It is interesting - In OP i found information that " Loan request is funded with GET token collateral " . Can you tell us little bit more about that?
It's solving major problem in decentralised p2p lending = if you allow people to take loans without any collateral or collection process they will default with very high probability and you will have no recourse.
GetLine is creating two products like 0x:
- Fully decentralised ethereum lending smart contract (if borrower and investor are trusting each other) they can just use "loan template" to make sure that everything is clear.
For lending between untrusted people we need to introduce both collateral with scoring and collection process. That's why GetLine offer is actually towards people operating p2p lending websites - it's providing software library getline.js so anybody can create their own p2p lending site without large capital investments upfront (similar to Relayers in 0x protocols)
GetLine will be doing analytics of multiple ARA (Risk Analysis Agencies) - so compared to for example Bitbond you will have full transparency and no possibility of any platform wrongdoing (investments will be always directly between investors and borrowers and platform will have no access to you money)
