@Haskell_plus don't want to talk on the spaces so wondering

Question

@Haskell_plus don't want to talk on the spaces so wondering

if I can ask the qeustion here. You mention borrowers/lenders can be anonymous and no collateral possible. So how would lenders feel comfortable lending money not knowing who they are giving their money to or if they would ever get it back?

#cryptocurrency #english #ergo

0

05.02.2022

6 ответов

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Chris Ray (Won't DM First)

ErgoLend is not designed to lend to people you are unfamiliar with, although that will be an option it is not ideal for someone to take such a huge risk unless they are totally ok with losing all of the value they lend, there are options to minimize loss worth exploring though. There are many people in our ecosystem that are anonymous,and trustworthy also, you might know someone that you would trust your money with although you do not know their identity, think about it for a minute. Participating lenders will always have the option to choose who they to lend to, considering this a borrower will be motivated to present a request that has a likely hood of being funded, if anonymous they might like to gain community support around the project they would like the funds for, making a case for a loan will not be easy, if someone truly desires a loan then they will likely do whatever is necessary to secure one, Lenders can add their own requirements to funding, possibly by asking the borrower to provide relevant experience or history of success, there are many things a lender might like to understand about a project before borrowing, they also might like to have regular updates on progress, and it is also possible that they ask for government id to be shared and verified. ErgoLend is much more than just a dApp, it will require community participation to make it a success, I am hoping that others can support building the communities on both sides of the financial agreements, I have begun to explore more in depth how I can contribute to supporting the growth of the program, my work includes supporting borrowers that might use such a lending platform > In Kenya "The Vision For Rural Kenya" has begun to work on gathering some of the required data that a lender would consider when they weigh the impact a loan would have in the region and also whether or not the loan will be repayable by the borrowers, we are holding workshops to discuss the path forward > In Nigeria ABCD continues to build and grow their organization and is exploring how a DAO can be utilized to manage their ambitions, I am in continual conversations with Josh and am familiar with the people he is working with on the subject. Yesterday I floated the idea of a lending association using a DAO structure to control a lending fund treasury that rewards the DAO participants through the interest earned on the loans they borrow to, this will imo bring more scrutiny to borrower request's as such a DAO will have manypeople reviewing the same loan request's, please note that this does not in anyway prevent individuals or other organizations from funding borrowers and it is possible that we could see several DAOs form that have different mission statement's they operate by. Also during the space last night a gentleman I am familiar with stepped forward and as is willing to show me how to have loans insured, so it is possible that after participating on the platform maybe you could carry an insurance policy that would allow you to risk a loan to anyone on any subject - these are things I am exploring and seeking assistance on and am finding people willing to contribute to the conversation as we develop ErgoLend together. Does that in anyway answer your question?

0

05.02.2022

A Автор вопроса

Chris Ray (Won't DM First)
ErgoLend is not designed to lend to people you are...

Yeah. I watched the spaces and I think question was answered there aswell

0

05.02.2022

Dennis Tvler

Chris Ray (Won't DM First)
ErgoLend is not designed to lend to people you are...

Halo how may will help you sar

0

05.02.2022

José (Won't DM first) Bravo

Dennis Tvler
Halo how may will help you sar

are you ok?

0

05.02.2022

Decay (will never dm)

Chris Ray (Won't DM First)
ErgoLend is not designed to lend to people you are...

This is beautiful. Thanks for for sharing.

0

06.02.2022

helloworld Kaggwa Njala · Accepted Answer

helloworld Kaggwa Njala

i really think its impossible lending with no collateral. either they lock the funds, means u can only use it that space with no transfer, like a wrapped ergo on a single chain that dev have the availibility to pull back unpaid funds, or a like a micro lend that we see in yes man

0

05.02.2022

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@Haskell_plus don't want to talk on the spaces so wondering

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