Why Decentralized Lending Today is Like the Early Days of P2P Lending

LendIt Co-Founder and current CCO of Centrifuge, Jason Jones, wrote a guest post on Lend Academy comparing decentralized lending to the early days of p2p lending; “We are on the verge of history. On a day not too long from now, a real world borrower will receive a loan created from newly printed currency that is extended from a smart contract that lives on the Internet.”; Jones compares MakerDAO to LendingClub saying the online lender was at the center of the p2p universe early on much like MakerDAO is at the center of the DeFi universe; “When I think about MakerDAO’s biggest challenge today, it is much like Lending Club’s biggest challenge when it was getting started.  How can you build an organization that responsibly gives out loans to deserving borrowers? It doesn’t matter that in this case we are dealing with a decentralized organization, the same problems still need to be addressed. A full scope lending operation needs to be built. Maker needs to attract and compensate the World’s leading lending & technology experts to contribute to this open protocol.” Lend Academy