> To be fair, you do have to start with over-collateralized loans before you can get under/no collateral loans with plenty of projects trying to do the latter.
Yeah but also the collateral always has to be cryptocurrency right?
Yeah but also the collateral always has to be cryptocurrency right?
But that's starting to change (https://centrifuge.io/) - still a long way to go ofc. I also know people who have done non-crypto collateral or just completely unsecured lending, but it does involve trust that is off-chain (legal contract, know the person, etc). I think that's a fine stepping stone (and may end up being necessary) as people figure out how to do everything on-chain and in decentralized ways (ex. using on-chain reputation)