Brilliant idea, but why the crypto? Couldn't you simply do the collar + web connection... without crypto?

arjie a day ago | parent | next [-]

I would imagine local credit is more expensive to access and doesn't have the pre-existing structure to account for more reliable collateral. Another user here[0] says that using cows as collateral is an old scam there. So either this is an expansion of the scam in the worst case (possible) or it's to compensate for the fact that local lenders are trained by interaction to not lend to what looks like the latest scheme (i.e. this well has been long ago poisoned).

e.g. if you go to suburban Japan and you walk by someone on the street who asks you for help and needs to call someone, you may lend them your phone. If the same thing were to happen in SF, you shouldn't. And so, perhaps, if you were a good guy you go ask a Japanese tourist haha! Okay, well the analogy is a little stretched but hopefully you get something out of it.

0: https://news.ycombinator.com/item?id=49049723

▲

asxndu a day ago | parent | prev [-]

With what platform? Stripe, Visa and Banks that arbitrarily ban users?

▲

nickphx a day ago | parent [-]

huh? platform? lol. you go to bank with proof of collateral.. get secured loan. wtf does everything need a platform or some VC garbage scrambling to find rent.

	▲	goodmythical a day ago \| parent \| next [-]
		Not familiar with the situation in Brazil, but it could be as simple as local credit being harder to get than global credit, or a desire to deal in a denomination that local credit doesn't typically offer without hitting a conversion fee. A local farmer could perhaps figure out how to contact a swiss banker all on their own, but it would be a lot easier, and cheaper, if there were single place (or better yet, a few competing places) that offer a central place that anyone looking to use/supply credit could come together.
	▲	Brian_K_White a day ago \| parent \| prev \| next [-]
		even the title says the bank does not give you the loan
	▲	pstuart a day ago \| parent \| prev [-]
		because blockchain blockchains! I must confess I'm enamored with the concept of blockchains, but find their value questionable for the most part. I even worked for a blockchain startup (non-crypto) but left on less than good terms and a fair amount of PTSD. They were nuts!