Proposition: Anyone can lend anything anywhere.

You should be able to lend literally anything, to anyone, anywhere instantly Normal or most credit card payments are done on a monthly basis with a credit limit which restricts as to how much each person can borrw at a given time from a specific institution. This system shall aim to eliminate the middle players being the banks which decide the trust with which money ought to be lent by their institutions. By introducing the concept of a decentralized credit behaviour rating system allows people to borrow and repay with suficient interest rates as decided upon by the people that legitimately own the moeny.

Example of a Situation:

Two old friends(G and H) meet for lunch or dinner, one(G) of them forgot to bring their wallet. The other person(H) can either pay for their friend(G) or lend it for say, the duration of the week. The company providing the service can charge or pay different interest rates to both of them.

Essentially (H) acts as a lending bank and (G) acts as a borrower creating a virtual bank. The company providing the service can offer (H) an interest rate of say 10% while charging (G) an interest rate of 15%, both of which are lower than what the banks charge but allow peer to peer lending. The company can charge a flat/relative fee for just sending the money over otherwise.

Scenarios:

The person(G) agrees to pay back (H) the next day, (G) sets the time limit on the contract as 24 hours from the time at which he borrowed the money to pay the bill.
(H) agrees to pay for (G) ‘s meal being the bigger person. The institution charges him a nominal fee.

Value objective:

Banks are vital to the economy since the cause financial value to rotate creating more jobs and opportunities. By allowing anyone to lend anything on their discretion, we are creating more opportunities for free trade and investments.

Rating system:

In caseswhere you don’t know the person, but want to lend, but wary if they’ll pay back eventually. The concept of a rating system makes use of all the previous history to conjure if they have paid all of their past debts on time or not, or rather if they’ve paid any at all.

### Key Implications: The concept of daily borrowing, lending and subjective interest rates with subjective trust factor allows the economy to be much more flexible and incentivises more opportunities.

The concept of daily payments: Tons of transactions happen each day and the time period for most opportunities are limited by a month and capped by a regulation between institutions.
The concept of subjective borrowing and lending: There is a certain freedom to economy that comes with people having true access to spend their moeny in any way they want. By being able to set different interest rates and deadlines before which payment ought to be made, people are able to lend and borrow moeny with multiple varying custom factors.
The concept of subjective trust: As is the concept of trust and genuity, people are known to trust each other based on multiple factors apart from ones that can be gauged by metrics monitored by financial instititutions. Allowing the public to monetize on their ability to trust and take subjective risks, they should have the freedom to borrow and lend upon will.

## The use of a Blockchain: - A consortium blockchain(record) - Public Blockchain(record) - Write only protected blockchain

A Blockchain allows the company to be flexible and operate better transparently.

Cryptography:

One way hash functions: Prove immutability of an existing transaction.
Public and Private key pairs: To prove ownership of the tokens.
Non tamperable

Directed Acyclic Graphs:

To enumerate the previous rating of a borrower or lender based on record.
To reestablish the standing record of the user.
To guage the reputation and status of the user prior to making contact.