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RE: Dharma Protocol: Tokenized Debt and Funding Through Decentralized Systems
There are safety measure in place to protect the public and investors. I am tired of bailing out these loans. Doing away with these safety measures does make the process faster. Faster may not be best.
In order to get the investors to finances the loans there has to be some kind of security.
Best of luck with this adventure
That's the exact point here. These are targeted at businesses. This is because your loan has to be secured for something, given there is no legal recourse for on chain loans.
Safety measures are adequate for such use cases and will be strengthened by the reputational system that comes into play. Instead of extensive paperwork, it is merely code based mathematics and actuarial.
You would be surprised how much of the process in traditional loans are redundant. It is a lot simpler than it is made to be. I've been studying and working in this sector for years now and the biggest lesson I've learnt is finance guys love to overcomplicate simple things.
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I have no doubt that the process is overwhelming and can be simplified.