Hello crypto! Bye bye credits? - page 23.

eternalgloom

legendary

Activity: 1792

Merit: 1283

Quote from: mummybtc on May 14, 2018, 04:23:24 AM

Quote from: butka on May 14, 2018, 04:11:22 AM

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.

mummybtc

hero member

Activity: 868

Merit: 500

Quote from: butka on May 14, 2018, 04:11:22 AM

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

butka

full member

Activity: 434

Merit: 246

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/

BrewMaster

legendary

Activity: 2128

Merit: 1293

There is trouble abrewing

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!

Ctn

sr. member

Activity: 644

Merit: 259

Quote from: hilariousetc on May 14, 2018, 02:36:02 AM

Quote from: Cryptoreflector_666 on May 13, 2018, 06:51:04 PM

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! Wink

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.

Vertex_ICO

jr. member

Activity: 602

Merit: 8

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

Svafnir74

jr. member

Activity: 318

Merit: 1

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.

Dreamchaser21

full member

Activity: 686

Merit: 108

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.

gilangIDR

legendary

Activity: 1526

Merit: 1001

Quote from: Cryptoreflector_666 on May 13, 2018, 06:51:04 PM

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.

pat4cryptoreal

full member

Activity: 630

Merit: 102

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.

hilariousetc

legendary

Activity: 2968

Merit: 3061

Join the world-leading crypto sportsbook NOW!

Quote from: Cryptoreflector_666 on May 13, 2018, 06:51:04 PM

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.

Corsicoin

full member

Activity: 448

Merit: 107

CryptoSport

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?

freesia_pnp888

newbie

Activity: 112

Merit: 0

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

Suharti12

member

Activity: 350

Merit: 10

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.

Cryptoreflector_666

member

Activity: 728

Merit: 24

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?

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