A killer app for BCH is microloans. I could lend on BTC until fees got expensive. Why aren't we doing this on Bitcoin Cash? I've invested in P2P loans since 2012. I'm happy to collaborate on this idea with a team.
BCH microloans will accelerate growth. Instead of users buying BCH with their own money, they are given the opportunity to borrow with a good credit score and repay the note.
This will help spread BCH like a virus.
How do you loan bch this way. Are there services that help implement this?. Thanks!
One example is BTCpop.co will be launching a service after a site upgrade that allows you to lend small amounts of BCH to a large number of people and collect interest. Stay tuned.
So would it be like Kiva?
Similar. But BTCpop.co is for profit.
Btcpop.co will be launching BCH P2P loans soon after our website is recoded. We will likely have a low minimum limit for BCH loans and its a free market platform all are invited
This is great news! I look forward to the using the upgraded site.
How is such a credit score calculated? Standard bank-issued FICO credit score or something else?
online reputation aka (Credit Score) is very difficult. Btcpop solves it the best way possible with Altcoin collateral...then it provides verification + platform to build reputation
