DeFi will eat conventional finance and dramatically broaden the worldwide lending market

  In Assyria and Sumeria, retailers made grain loans to farmers and merchants that carried items between cities. In historic Greece and throughout the Roman Empire lenders that have been primarily based in temples made loans. Earlier than banks ever existed, loans have been peer-to-peer and individuals used to belief one another with out the involvement of intermediates. Banks solved the mortgage belief points but in addition added prices and extra layers of regulation and complexity. Banks are the transacting authority between the lender and the borrower. Crypto-backed loans are reviving peer-to-peer lending, eradicating…