Micro-lending and crowdfunding via the web
The internet has been a marvelous invention, with the way it is able to link people and information around the world.
A number of experiments and even operational entities have been established to facilitate Micro-lending via the web.
Crowd funding has also come of age as more and more as people the world over are more comfortable with making online payments.
These online payments, whether using credit cards or paypal still attract significant fees.
Simplifying this process using cryptocurrencies and blockchains could eliminate these fees and eradicate 5% to 10% of the shrinkage associated with peer to peer lending, crowdfunding and other capital raising exercises conducted via the web.
Over the next couple of posts I intend to review some of the established web micro-lending site and give you my opinions on some of the benefits, challenges and pitfalls as I see them.
Some of these are sites like:
Kiva
Microloan foundation
Mila
United Prosperity
Vittana
and then the field organisations and local banks they work with if not directly peer-to-peer
thanks for sharing this i am following.
Interesting, will you be telling us how long these trial lasted...week, month etc?
I will be looking at the ones that are still functioning. Some are quite a few years old
I didn't look them up personally but I would think still being in business would be a good sign in of itself.
nice post ...i upvote you plz upvote me !!
Absolutely..internet has given birth to micro lending...(although the interest rates are quite high). But in case of urgency it really helps. looking forward to your upcoming posts on subject matter.
Thanks
Wonderful post @sme
As the world continues to become more interconneted, this will only grow!
yeah, it would be good to hear more details, I think my boss uses Kiva
Really look forward to hearing about these micro-lenders.
Nice post im following you.