In a previous post I wrote about the “debacle of Bitcoin P2P Lending”. Online lending is a great idea that has been poorly implemented, currently it is infected with scammers and the chances of losing your money on sites like bitlendingclub are around 11%, which is just way too high.
Like many others I believe that the reputation system makes steemit an ideal platform for p2p lending. Users who ask for money have more to lose, since they are putting their reputation at risk, you could even limit borrower´s account reputation so that only people with a certain reputation can ask for loans.
Another neat feature that can give investors more confidence while investing is the escrow feature, borrowers could put a percentage of their loan as collateral tied up in an escrow. If they fail to repay, the collateral can be released and distributed amongst the investors.
I know there are a few projects out there who are working on creating a P2P lending based on steemit and I personally can´t wait to see them released.
note: the payout of this post will be in 100% SP