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