Lending On The Blockchain with ERC20 Tokens - Should Banks Be Scared?

[Magpie]

There are a number of reasons why using blockchain for borrowing and lending makes sense, especially when it comes reducing fees, cutting out middlemen, and operating in a trustless and transparent environment.

The article below dives deep into the benefits (and drawbacks) of blockchain lending, and thinks about how banks will respond.

It also lists a few of the best projects focussing on this, including SALT, EthLend and Ripio Cedit Network.

https://medium.com/trivial-co/lending-and-borrowing-on-the-blockchain-should-banks-be-scared-e0a01c857c43 [nofollow]

What do you think about it - would you take or provide a loan on the blockchain?

[Niteroy]

Of course, thanks to blockchain and smart contracts, there is no need for intermediaries in the form of banks, so many people will choose lending without banks.