Peer to Peer lending platforms frenzy?

[cryptokangaroo]

With Salt, ETHland, Suretly, Inspeer, Sikoba all trying to get a foot in the door of P2P lending,
what exactly caused such a rush of projects popping up recently, especially when BTC Jam is closing?

Do you think they have filled the gap or we will see more ICOs of the kind materialising?

What would your ideal peer to peer platform be, that would be of use to cryptocurrency holders and
be beneficial to further adoption of crypto?

[krishnapramod]

I have used both BTCJam and BitLendingClub (Loanbase). Read about a couple of P2P lending ICOs targeting the unbanked, interesting projects, but today the Bitcoin P2P lending industry is relatively too small, but will grow with Bitcoin adoption and legalization.

As far as an ideal P2P site is concerned, for legit borrowers, a Bitcoin P2P lending platform offers them the chance to take loans based more on reputation rather than credit score, entirely different from traditional methods, but at the same time this is the major weakness, it opens up the door for scammers. So I guess there should be a solid system in place to check the creditworthiness of a borrower. Right now it is only restricted to online identity verification/social media accounts/business accounts. Don't know if Bitcoin P2P lending would evolve to the extent of physical verification.

The Bitcoin lending industry isn't regulated, lenders are always at risk from defaulters and I guess this situation would remain unchanged until Bitcoin gets legalized by major countries, but still a more efficient system to legally sue or recover funds in case of fraud would be ideal for a P2P platform.