necro bump
“I THINK THE REAL ISSUE WITH LOANS IS CONCENTRATION OF RISK, NOT THE INDIVIDUAL DEFAULT RISK.”
https://news.bitcoin.com/andreas-antonopoulos-case-reputation-identity-systems/
obviously supports the dafne concept.
Topic: Decentralized Lending Protocol / Network (Read 8641 times)
I think this thing could be easily built in ethereum, as sort of a test. Because we wouldn't be able to move / use actual bitcoin, but ppl could lend ethereum to each other.
Oh wow! this has gotten a lot of attention, been away suffering from the winter lul... horrible, just not enough sunlight.
but everything is there, risk mitigation is pretty much left to the lenders, all we can do as a DOA is to incentivise the participants to use the system, because they get a share in it's success. yeah scammers suck, but scammers are usually stupid, going for the short term win instead of the epic win that the system is meant to foster.
the best I can come up with would be built in data tracking options, if a borrower wishes to be trusted they can opt to allow the money to be tracked on it's respective blockchain. Once the DAFNe releases the funds out of it's control it just begins tracking the money on that network and mapping known Cryptocoin addresses... basically, keeping a directory of Crypto accepting businesses and choosing from there to continue tracking that portion of the funds or not for investors to know. The more information a borrower gives to establish their stake in the system the more likely they will receive funds. If they fail to do so they will have to start all over again and establish their reputation all over again... making this process as difficult as possible and the rewards for continued service must be huge... hence the Reserve.
I was looking at NXT and thought It may be implementable through that system,
but everything is there, risk mitigation is pretty much left to the lenders, all we can do as a DOA is to incentivise the participants to use the system, because they get a share in it's success. yeah scammers suck, but scammers are usually stupid, going for the short term win instead of the epic win that the system is meant to foster.
the best I can come up with would be built in data tracking options, if a borrower wishes to be trusted they can opt to allow the money to be tracked on it's respective blockchain. Once the DAFNe releases the funds out of it's control it just begins tracking the money on that network and mapping known Cryptocoin addresses... basically, keeping a directory of Crypto accepting businesses and choosing from there to continue tracking that portion of the funds or not for investors to know. The more information a borrower gives to establish their stake in the system the more likely they will receive funds. If they fail to do so they will have to start all over again and establish their reputation all over again... making this process as difficult as possible and the rewards for continued service must be huge... hence the Reserve.
I was looking at NXT and thought It may be implementable through that system,
Yeah, its in the OP. Basically, part of the interest charged to the borrower gets put in a Decentralized Autonomous Reserve, which is an algorithm controlled wallet that is distributed amongst all members.
So that can be called fees in a way , what if there won't be so many scams and what will happen to that btc in the so called Decentralized Autonomous Reserve.
Also , this gives a win-win situation to scammers, they just get away like that.
Anyways , i will look forward to this , it has some really nice ideas though it sounds pretty sketchy because of scammers but everything works out somehow and am sure this will too
if you read the OP, its all there. the DAR accumulates fees so that all loans out on the network are insured. Anything above this limit is distributed to those participating in the network, as a dividend. If you have currency available to loan, then you get a dividend.
Scammers - the current design of the network prevents collusion (multiple parties working together to try and screw the system), but it won't prevent an individual from scamming the system.
Like any traditional banking system, the fundamental component of this is trust - trust that you'll pay back. And this trust is all in the loan application process... you publish something on the block chain, people respond - they bid into your loan or not.
Yes i read the OP clearly and i do understand this is a great system with very less flaws but nothing can be perfect and this can be Se'ed by scammers. Though i would really like to see it implemented .
Cool! Thanks for reading the whole thing !!!
Need to work on condensing it. That will be amazing idea but i hope you are keeping in mind some way to for those individual scammers
I was looking a site today and they wanted id verification , where they asked to keep the documents ready and a person will visit to pick them up , i forgot the site(not good memory) but that sounds a really good idea
Though that will need a big team but how about all lenders need to do this verification , that can actually avoid scammers
JUST A THOUGHT
Sounds Great to me !
Yeah, its in the OP. Basically, part of the interest charged to the borrower gets put in a Decentralized Autonomous Reserve, which is an algorithm controlled wallet that is distributed amongst all members.
So that can be called fees in a way , what if there won't be so many scams and what will happen to that btc in the so called Decentralized Autonomous Reserve.
Also , this gives a win-win situation to scammers, they just get away like that.
Anyways , i will look forward to this , it has some really nice ideas though it sounds pretty sketchy because of scammers but everything works out somehow and am sure this will too
if you read the OP, its all there. the DAR accumulates fees so that all loans out on the network are insured. Anything above this limit is distributed to those participating in the network, as a dividend. If you have currency available to loan, then you get a dividend.
Scammers - the current design of the network prevents collusion (multiple parties working together to try and screw the system), but it won't prevent an individual from scamming the system.
Like any traditional banking system, the fundamental component of this is trust - trust that you'll pay back. And this trust is all in the loan application process... you publish something on the block chain, people respond - they bid into your loan or not.
Yes i read the OP clearly and i do understand this is a great system with very less flaws but nothing can be perfect and this can be Se'ed by scammers. Though i would really like to see it implemented .
Cool! Thanks for reading the whole thing !!!
Need to work on condensing it. Yeah, its in the OP. Basically, part of the interest charged to the borrower gets put in a Decentralized Autonomous Reserve, which is an algorithm controlled wallet that is distributed amongst all members.
So that can be called fees in a way , what if there won't be so many scams and what will happen to that btc in the so called Decentralized Autonomous Reserve.
Also , this gives a win-win situation to scammers, they just get away like that.
Anyways , i will look forward to this , it has some really nice ideas though it sounds pretty sketchy because of scammers but everything works out somehow and am sure this will too
if you read the OP, its all there. the DAR accumulates fees so that all loans out on the network are insured. Anything above this limit is distributed to those participating in the network, as a dividend. If you have currency available to loan, then you get a dividend.
Scammers - the current design of the network prevents collusion (multiple parties working together to try and screw the system), but it won't prevent an individual from scamming the system.
Like any traditional banking system, the fundamental component of this is trust - trust that you'll pay back. And this trust is all in the loan application process... you publish something on the block chain, people respond - they bid into your loan or not.
Yes i read the OP clearly and i do understand this is a great system with very less flaws but nothing can be perfect and this can be Se'ed by scammers. Though i would really like to see it implemented .
Yeah, its in the OP. Basically, part of the interest charged to the borrower gets put in a Decentralized Autonomous Reserve, which is an algorithm controlled wallet that is distributed amongst all members.
So that can be called fees in a way , what if there won't be so many scams and what will happen to that btc in the so called Decentralized Autonomous Reserve.
Also , this gives a win-win situation to scammers, they just get away like that.
Anyways , i will look forward to this , it has some really nice ideas though it sounds pretty sketchy because of scammers but everything works out somehow and am sure this will too
if you read the OP, its all there. the DAR accumulates fees so that all loans out on the network are insured. Anything above this limit is distributed to those participating in the network, as a dividend. If you have currency available to loan, then you get a dividend.
Scammers - the current design of the network prevents collusion (multiple parties working together to try and screw the system), but it won't prevent an individual from scamming the system.
Like any traditional banking system, the fundamental component of this is trust - trust that you'll pay back. And this trust is all in the loan application process... you publish something on the block chain, people respond - they bid into your loan or not.
Yeah, its in the OP. Basically, part of the interest charged to the borrower gets put in a Decentralized Autonomous Reserve, which is an algorithm controlled wallet that is distributed amongst all members.
So that can be called fees in a way , what if there won't be so many scams and what will happen to that btc in the so called Decentralized Autonomous Reserve.
Also , this gives a win-win situation to scammers, they just get away like that.
Anyways , i will look forward to this , it has some really nice ideas though it sounds pretty sketchy because of scammers but everything works out somehow and am sure this will too
This all sounds more like btcjam or bitlendingclub to me , you take a loan and earn trust slowly
But their are people who default and we can't do anything much for that , that;s the main problem here.
But hope it will al work out fine if you have some good guidelines and backing. Though this seems kind of dead
But their are people who default and we can't do anything much for that , that;s the main problem here.
But hope it will al work out fine if you have some good guidelines and backing. Though this seems kind of dead
those two services are centralized. Lending service is one of the things I think should be decentralized. Why should people be getting paid simply for going "hey, uh, you got some money. They need some money. So I'm gonna take your money and give it to them, and then they're going to pay me back, then I'll take a fee, and then give you most of it" . What did they do to earn that fee? They've built trust?
Yeah, its in the OP. Basically, part of the interest charged to the borrower gets put in a Decentralized Autonomous Reserve, which is an algorithm controlled wallet that is distributed amongst all members.
This all sounds more like btcjam or bitlendingclub to me , you take a loan and earn trust slowly
But their are people who default and we can't do anything much for that , that;s the main problem here.
But hope it will al work out fine if you have some good guidelines and backing. Though this seems kind of dead
But their are people who default and we can't do anything much for that , that;s the main problem here.
But hope it will al work out fine if you have some good guidelines and backing. Though this seems kind of dead
those two services are centralized. Lending service is one of the things I think should be decentralized. Why should people be getting paid simply for going "hey, uh, you got some money. They need some money. So I'm gonna take your money and give it to them, and then they're going to pay me back, then I'll take a fee, and then give you most of it" . What did they do to earn that fee? They've built trust?
Still here, sorry for being inactive for the past few months. Just got out of the hospital. Let's get to work!
Good god man! Hope you're feeling okay!
This all sounds more like btcjam or bitlendingclub to me , you take a loan and earn trust slowly
But their are people who default and we can't do anything much for that , that;s the main problem here.
But hope it will al work out fine if you have some good guidelines and backing. Though this seems kind of dead
But their are people who default and we can't do anything much for that , that;s the main problem here.
But hope it will al work out fine if you have some good guidelines and backing. Though this seems kind of dead
those two services are centralized. Lending service is one of the things I think should be decentralized. Why should people be getting paid simply for going "hey, uh, you got some money. They need some money. So I'm gonna take your money and give it to them, and then they're going to pay me back, then I'll take a fee, and then give you most of it" . What did they do to earn that fee? They've built trust?
unfortunately no 
but i like the idea of this project. Is strange to me that all this decentralized ideas like this project has not the attentions from developers.
but i like the idea of this project. Is strange to me that all this decentralized ideas like this project has not the attentions from developers.I've been getting involved (in the way that a noncoder can) with monero. From what I gather from talking to folks, a lot of devs are hard at work on the core coin software for all of these coins out there. Thats not to say that I don't think that DAFNE should be developed now, but thats why there's no "interest".
Also, its because we've developed a Wall of Text, which apparently most people don't read. If you've ever noticed official ANN pages for coins, they're all broken down into bite sized thoughts.... a drastic contrast to our massive OP.
Still here, sorry for being inactive for the past few months. Just got out of the hospital. Let's get to work!
This all sounds more like btcjam or bitlendingclub to me , you take a loan and earn trust slowly
But their are people who default and we can't do anything much for that , that;s the main problem here.
But hope it will al work out fine if you have some good guidelines and backing. Though this seems kind of dead
But their are people who default and we can't do anything much for that , that;s the main problem here.
But hope it will al work out fine if you have some good guidelines and backing. Though this seems kind of dead
unfortunately no but i like the idea of this project. Is strange to me that all this decentralized ideas like this project has not the attentions from developers.
but i like the idea of this project. Is strange to me that all this decentralized ideas like this project has not the attentions from developers. is this project "dead"?
I'm still interested in it
There hasn't been any actual code development (as the github is straight up empty).
Can you code?
is this project "dead"?
JumpStartFund looks like a good idea, but I dont think they would accept bitcoin as a funding method. The BoostVC funding would be both great and would provide us with some publicity, not to mention that it might also get us in touch with some likeminded people.
Hey, to do the thinking all that is required is a pen and paper... it's amazingly versatile. Just keep on thinking on how to work with it; definitely need to figure out a way to fund development... can't do much if we have to focus all our energy on something else everyday...
http://jumpstartfund.com/#!/I really think we should find a way to submit to that. What do you guys think? I never got a clear feeling from either of yah. In general I'm surprised that this thread hasn't garnered much attention, and that website above (or this VC we're gonna find a way to submit to) might be a good way to spread the word.
What we're trying to build falls into the whole "Bitcoin 2.0" shtick. But its not a sidechain, because the coins don't ever "leave" the primary blockchain. And its not like the other 2.0 stuff (megacoin) that work on top of bitcoin and gunk up the blockchain with more data. It works side-by-side..... Its essentially a metaledger - cause bitcoin is really just a ledger, and this is a ledger of that ledger. So its a sister chain (and her name is DAFNe.....)
Quote
and yeah, private keys inside the cointainers, I am now quite interested in figuring out how to use neo4j... it becomes quite a lot easier to arrange and distribute a group of tokens with correlations; Though Cassandra would be much more manageable. With the design setup as a Vault in a Token, the tokens can be piled up into Contracts, discarded when opened, Returned if canceled, and through Neo4j graphable and distributable in a less data intensive way than the Bitcoin Blockchain, with adjustable security and failure resistance.
well that sounds good. Quote
and someone on the forum figured out how to safely transport Keys to another blockchain... great idea. I must search for it.
you talking about sidechains? Quote
I like the tip for commit, will definitely need to guide people to make sure they know they can tip or donate.
Hey, to do the thinking all that is required is a pen and paper... it's amazingly versatile. Just keep on thinking on how to work with it; definitely need to figure out a way to fund development... can't do much if we have to focus all our energy on something else everyday...
and yeah, private keys inside the cointainers, I am now quite interested in figuring out how to use neo4j... it becomes quite a lot easier to arrange and distribute a group of tokens with correlations; Though Cassandra would be much more manageable. With the design setup as a Vault in a Token, the tokens can be piled up into Contracts, discarded when opened, Returned if canceled, and through Neo4j graphable and distributable in a less data intensive way than the Bitcoin Blockchain, with adjustable security and failure resistance.
and someone on the forum figured out how to safely transport Keys to another blockchain... great idea. I must search for it.
I like the tip for commit, will definitely need to guide people to make sure they know they can tip or donate.
and yeah, private keys inside the cointainers, I am now quite interested in figuring out how to use neo4j... it becomes quite a lot easier to arrange and distribute a group of tokens with correlations; Though Cassandra would be much more manageable. With the design setup as a Vault in a Token, the tokens can be piled up into Contracts, discarded when opened, Returned if canceled, and through Neo4j graphable and distributable in a less data intensive way than the Bitcoin Blockchain, with adjustable security and failure resistance.
and someone on the forum figured out how to safely transport Keys to another blockchain... great idea. I must search for it.
I like the tip for commit, will definitely need to guide people to make sure they know they can tip or donate.
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