EP77: How Blockchain Enables Peer-2-Peer Lending in Mexico
Big banks (aka the Banking Cartel) has been able to push us around for too long. With their close ties to the mafia, I mean the government, and their access to monopolized fiat money rails (SWIFT, etc)…we have had nearly no choice to build, store and transact our wealth in terms of money. Sure, we could use cash, but that’s really inconvenient and not congruent with our 21st century, digital world. Let’s face it, we’ve been pushed in to a corner for decades.
Since interest rates are so low, it means that banks may be better off (yield-wise) borrowing from the Central Banks rather than from their typical banking clients. This creates an inverse incentive for customer service and we, the historic loaners, are now seen as a compliance risk with additional complication. This means that banks become less and less willing to make small loans or accept “high risk” (ie low profit) clients as they once would.
My guest, Hayden Miyamoto, knows this all too well. His company www.Fundary.com has the motto “arming the world with global decentralized credit and investments”.
He currently lives in Mexico and tells us how the local people actually save, lend and borrow money. They live entirely outside of the legacy banking system which comes with its own set of risks and expenses. Often it requires insane % of capital to borrow for a loan and the interest rates can be >100%/year.
The problem, as Hayden describes, is liquidity. Now that blockchain tech has become more accepted and better understood, the benefits have started to shine. With the ability to accept peer-2-peer, micro loans from clients around the world, Hayden and his team can offer the Mexican people APR rates far below the current market rate.
Check out these statistics!
….you can think the government monopoly on money and payment channels for this disadvantage for the poor and underserved.
Helping the poor, as we’ve seen in several other Liberty Entrepreneurs interviews, is one of blockchain tech’s main advantages. It cuts out the middleman and allows us to help each other while greatly bypassing the central authorities that have historically held us back and told us no.
Guess, what…we don’t be told no for much long.
Build Freedom,
Ashe
Contact Info:
Email: [email protected]
Website: https://fundary.network/
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Fundary has enormous potential. Fair Lending has become an issue all over the world, even in the US (and not getting any better). It will require a lot of grass roots education to get serious traction and adoption, but the world is ready!
I hope the lessons learned by other Peer to Peer lenders will be taken into account as there have been mixed results to date... and some shady practices by the companies that only wanted to get big and carry out an IPO.
yeah man, p2p lending could take the world by storm unless "they powers that be" figure out a way to stop it.
yaah Helping the poor,!haydenmiyamoto did great job it much appriciated!
wow offer the Mexican people APR rates secure loan 40% which the mexican people get benefit from it!
Holy heavens those interest rates!
I really hope these guys would become a success story.
Great to hear about those Bitcoin and ETH integration. I mean it's the kind of thing I'd expect from Japan.
yeah, srsly. I rly hope they are successful too. Screw these big banks
Its cool to be part of that kind of movement. Something that has the power to change the entire order of the world for the last century or more.
Ashe is the Man , so willing to share we need more good people like you Ashe oro
thanks Max!! I'm just the platform that all these amazing Entrepreneurs can explain how they are helping the world.
very efective post, there are lot of info
really good post .. got to know many things thanks for sharing
Yes absolutely right, middle man eats a lot of reward in doing conventional trades, thanks to block chain to get rid of the middle man. Thanks for sharing
Wow nice lovely post sir...