Find that the ways things were and how people once operated seem to have evaporated in to thin wispy nothings around me as the past few months have been a somewhat fruitful but tiring self imposed death march towards the greater goal of offering more services in the crypto ecosystem and taking time to do final inspection and sanity checks on projects I'd shelved for others.
One of those long neglected projects getting attention over the past few days is the Hive.Loans service that I started working on last year. Albiet to soon to open up to alpha testers looking to come test out what could very well be a killer app for HIVE in 2021 quite pleased to share the news that the site as of today has (atleast in testing anyways) allowed users to validate their HIVE account identification and log into the site. Most of the tools such as the free account recovery service and open to public escrow handling aren't implemented yet and the lending pool is still being constructed. The goal is to have a working proof of concept of the service online and useable by the public before the end of 2 months but will aim for far sooner than that.
The whole concept of basically trustless accounts as collateral lending services that can be automated has that sort of vibe to it that for a developer like me excites them.. Innovation!
The HIVE blockchain has a unique setup that will allow for this basically trustless lending platform to be automated in such a way that no only will the borrowers and lenders have no need to actually talk to or evaluate eachother but they won't even have to chase payments as on the basis of the site working by taking ownership of the borrowers account until the loan is repaid plus interest. Everything will eventually be a completely automated system with users able to place loans or lend HIVE and have the payments or profits roll into them without further input.
Lenders will merely have to show up, deposit their HIVE, specify the amounts they would be willing to loan for a duration of their choice up to 13 weeks and specify the ranges of interest repaid to them they'd prefer. From there the system will automatically match them up with borrowers that meet the criteria and repayment bandwidth needed to ensure both parties walk away feeling as if they've earned something. The open to community lending pool will breed competitive interest rates by the nature of the free market so excited to see if this theory of mine holds true when deployed.
Borrowers will have a slightly more interactive run up in preperation for being able to request loans from the pool. Firstly the recover account of the borrowing party MUST either already be or be switched to for a minimum of 30 days prior a member of the "whitelisted" individuals list. Confirmed so far to help with this list is fellow witness 
Will put out a call for alpha testers probably in the next few weeks. If you're interested in that sort of thing comment below..
Also.. Should Hive.Loans have a trollbox on the site or should it just link to a discord?
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