For this to work it needs mass promotion in the mainstream. If you want to lend money to say a friend, chances are the friend will need to know about the app.
Thank you very much for your comment. Both lenders and borrowers benefit from recording their loans via the app than otherwise. Lenders feel more secure because the loan is not only recorded, but that there is an enforceable contract in place. The borrowers benefit because if they repay the loan, which good borrowers tend to do, the the fact of the repayment will be added to their credit history. The potential borrowers will be able to request loans from potential lenders via the app and the lenders will find out via such a request about the Lendsbay app. We intend on making the app very easy and intuitive to use and rely on high word of mouth popularity of the app