The trust economy: A world of P2P money-lending
The article devotes particular attention to Kiva.org, a San Francisco-based peer-to-peer (P2P) non-profit, which uses the principles of social networking to connect individual or group lenders to entrepreneurs via microfinance institutions (MFIs) around the world, and Zopa.com, a British matchmaker for borrowers and lenders.
“Just as eBay shook offline retail to its foundations, P2P lending models such as Kiva, though still marginal, threaten to disrupt high-street banking. Although the publicâ€™s faith in banks has been damaged and credit remains hard to come by, evidence suggests that a new trust-based economy is proving more efficient than traditional lending. […]
If P2P finance has yet to prove scalable or profitable, itâ€™s also true that, not so long ago, the same was said of other web ventures which went on to change the world.”