Hello crypto! Bye bye credits?

[Cryptoreflector_666]

I wonder this: if the usual banking system will disappear as such, then she will leave and credit system, leasing and installment payment, debt, etc. As there is no centralized authority that can issue and track correctness of performance. To some extent, this is certainly good, but in fact people who can not immediately earn a large amount of money and will remain in the lower levels of life, which gives the modern banking system (though not ideal). What do you think about this? How to Take a loan in cryptocurrency?

[Suharti12]

To take a crypto loan I think it is also like banking but it is very difficult because crypto does not have a stable price, and national banking will always run for the needs of the national community.

[freesia_pnp888]

i have never considered about loan in crypto, seem like difficult and hard to process.

[Corsicoin]

I guess the blockchain connected to ID and notarial informations could make crypto loan more safer.
We can imagine that if you don't pay the loan you get automaticaly sued through the blockchain?

[hilariousetc]

I wonder this: if the usual banking system will disappear as such, then she will leave and credit system, leasing and installment payment, debt, etc. As there is no centralized authority that can issue and track correctness of performance. To some extent, this is certainly good, but in fact people who can not immediately earn a large amount of money and will remain in the lower levels of life, which gives the modern banking system (though not ideal). What do you think about this? How to Take a loan in cryptocurrency?

The banking system will never disappear and the same goes for credit and debt. Even if crypto 'takes over' the banking sector would just adapt to use it (and the banks are already looking to implement blockchain tech and is only a matter of time before they do). Credit and loans aren't inherently bad either and people are always going to need loans and mortgages so they will just be issued on the blockchain but you will still need some central authority to do so.

[pat4cryptoreal]

I do not believe in loan though we have some blockchain based platform where some one can borrow example Debitum. Debitum just finish ICO not too long ago and the platform is operational. We also have loanbit. Do not worry about loan blockchain is loaded already.

[gilangIDR]

I wonder this: if the usual banking system will disappear as such, then she will leave and credit system, leasing and installment payment, debt, etc. As there is no centralized authority that can issue and track correctness of performance. To some extent, this is certainly good, but in fact people who can not immediately earn a large amount of money and will remain in the lower levels of life, which gives the modern banking system (though not ideal). What do you think about this? How to Take a loan in cryptocurrency?

Until now there is no agency or official institutions that specifically have these services. We are currently seeing more that these services are provided by individuals. The existing credit and loan features are not fully applicable. But with the passage of time then I am pretty sure that bitcoin will continue to grow and will have those features.

[Dreamchaser21]

You can borrow some bitcoin or other coins to your friend but I think no company right now that allows you to loan some cryptos. Maybe there's ICO right now about this thing but I don't think its a good business since cryptoworld is a decentralized thing and even you ask for KYC there is still no assurance that you will get paid.

[Svafnir74]

Thinking that in the future it will be very easy to take a loan in cryptocurrency. Credit can be taken much faster than in a Bank. As far as I know, there are already prototypes of such projects. Left to run work projects for lending in bitcoin.

[Vertex_ICO]

I think that it is something that is possible but I think it will come further down the line.

[Ctn]

I wonder this: if the usual banking system will disappear as such, then she will leave and credit system, leasing and installment payment, debt, etc. As there is no centralized authority that can issue and track correctness of performance. To some extent, this is certainly good, but in fact people who can not immediately earn a large amount of money and will remain in the lower levels of life, which gives the modern banking system (though not ideal). What do you think about this? How to Take a loan in cryptocurrency?

The banking system will never disappear and the same goes for credit and debt. Even if crypto 'takes over' the banking sector would just adapt to use it (and the banks are already looking to implement blockchain tech and is only a matter of time before they do). Credit and loans aren't inherently bad either and people are always going to need loans and mortgages so they will just be issued on the blockchain but you will still need some central authority to do so.

Indeed, banking system is like integral part of the nation and through the international connections it does form the giant global network.

Do you really think that something big like that will disappear from the face of the earth at all? I mean what are the chances of that happening in reality, its next to zero.

They might get modified, they might be upgraded in the time to come but they wont disappear like that! 

I am not sure why your question turned into crypto loans at the end of your post but I think you can visit the lending section in the economics. You will get better answer there only.

[BrewMaster]

i don't know why people always think it is "live or die" situation when bitcoin is involved! there is a lot of middle ground here. bitcoin can become big while banks are still as big as they are. it doesn't have to replace anything and it doesn't have to die trying.
you say loans, that is just a service. if there is demand for loans in a world with bitcoin in it then banks or other institutes will start giving bitcoin loans!

[butka]

With blockchain technology it is hard to imagine classical loans against property, but a couple of interesting crypto loan solutions have emerged in the mean time.

One is Salt (currently only available for US citizens), which offers fiat money loans (USD, EUR, and others) against bitcoin collateral.

The other is Ethlend, which offers ETH loans against other cryptocurrencies by utilizing smart contracts. Probably we are going to see more and more of these crypto loans in the near future.

Source: https://blockonomi.com/salt-vs-ethlend/

[mummybtc]

With blockchain technology it is hard to imagine classical loans against property, but a couple of interesting crypto loan solutions have emerged in the mean time.

One is Salt (currently only available for US citizens), which offers fiat money loans (USD, EUR, and others) against bitcoin collateral.

The other is Ethlend, which offers ETH loans against other cryptocurrencies by utilizing smart contracts. Probably we are going to see more and more of these crypto loans in the near future.

Source: https://blockonomi.com/salt-vs-ethlend/

Salt and Ethlend are both far from the services Banks provide. I believe Banks are here to stay I know most people would not like to here this, crypto has a big role to play in the space in future but as long credits service is not crypo platform can meet this demands unless we want to be deceiving ourselves

[eternalgloom]

With blockchain technology it is hard to imagine classical loans against property, but a couple of interesting crypto loan solutions have emerged in the mean time.

One is Salt (currently only available for US citizens), which offers fiat money loans (USD, EUR, and others) against bitcoin collateral.

The other is Ethlend, which offers ETH loans against other cryptocurrencies by utilizing smart contracts. Probably we are going to see more and more of these crypto loans in the near future.

Source: https://blockonomi.com/salt-vs-ethlend/

Salt and Ethlend are both far from the services Banks provide. I believe Banks are here to stay I know most people would not like to here this, crypto has a big role to play in the space in future but as long credits service is not crypo platform can meet this demands unless we want to be deceiving ourselves

Sure they're different because you still need collateral, even for loans that aren't even that big.
I wouldn't be surprised though if companies start offering loans without the need for collateral, maybe on a local level or something.

It's not like it hasn't been done before, but there's just too much fraud and defaults, when you're dealing with semi-anonymous people on the internet.

[SUDARMONO]

I think to take a loan or borrow in the form of crypto is difficult to do, because we know crypto has a value or price that is never stable for use in the value of the currency.

[Reatim]

I wonder this: if the usual banking system will disappear as such, then she will leave and credit system, leasing and installment payment, debt, etc. As there is no centralized authority that can issue and track correctness of performance. To some extent, this is certainly good, but in fact people who can not immediately earn a large amount of money and will remain in the lower levels of life, which gives the modern banking system (though not ideal). What do you think about this? How to Take a loan in cryptocurrency?

I don't think that banking system will just disappear because everyone will go on crypto. Banking system has evolved a lot and I'm sure that they can easily adjust as well. If you are talking about blockchain, banking system is the first recipient of this technology. They can replace their legacy system and used blockchain. But as far as taking a loan in crypto? I'm not aware of one already exist, but I will not take the risk of getting one because crypto is very volatile and you might end up losing more in the end.

[chillitabit]

I wonder this: if the usual banking system will disappear as such, then she will leave and credit system, leasing and installment payment, debt, etc. As there is no centralized authority that can issue and track correctness of performance. To some extent, this is certainly good, but in fact people who can not immediately earn a large amount of money and will remain in the lower levels of life, which gives the modern banking system (though not ideal). What do you think about this? How to Take a loan in cryptocurrency?

that would happen only if the traditional banking system would be taken down leaving no traces. Which is not going to happen. I see blockchain as future of finance, but it will be rather a switching of data from traditional banking to blockchain

[solopay669]

I doubt that banks will give someone their debts ...

[senin]

I wonder this: if the usual banking system will disappear as such, then she will leave and credit system, leasing and installment payment, debt, etc. As there is no centralized authority that can issue and track correctness of performance. To some extent, this is certainly good, but in fact people who can not immediately earn a large amount of money and will remain in the lower levels of life, which gives the modern banking system (though not ideal). What do you think about this? How to Take a loan in cryptocurrency?

Do not even dream that the current banking system will ever disappear. Crypto currency is not capable of causing significant harm to banks. Even if the crypto currency could destroy banks, the state will never stand aside from this process. Once the crypto currency would create a threat to the existence of banks, the state would severely suppress such an attempt, up to the complete prohibition of the crypto currency. Banks are an integral part of any state. A state without banks can not exist. Therefore, it is not necessary to conflict with banks.