Zopa
I know I keep saying this, but the variety of things going on out there that are enabled by the internet is truly astonishing.
Now, if you want to borrow money (in the UK at least, I didn't read long enough to determine if the service can be used in the US), you don't have to go to a bank. You can just go to Zopa and borrow from some other individual who wants to lend money they have and make a little profit in the interest rate charged. eBay for loans.
Social networking is going to grind to dust all of our traditional notions of dealing with each other and with organizations. This can't be overstated: While things will tend to remain familiar on a conceptual level, everything is going to be changed.
Now, if you want to borrow money (in the UK at least, I didn't read long enough to determine if the service can be used in the US), you don't have to go to a bank. You can just go to Zopa and borrow from some other individual who wants to lend money they have and make a little profit in the interest rate charged. eBay for loans.
Social networking is going to grind to dust all of our traditional notions of dealing with each other and with organizations. This can't be overstated: While things will tend to remain familiar on a conceptual level, everything is going to be changed.
posted by jim at 6/23/2006 04:03:00 PM
2 Comments:
While I don't disagree that Zopa seems like an interesting model that might have some lending institutions stand up and take notice and that the banking industry should, in fact, do so. I have more a of concern with regard to fraud perpetuated by individuals, corporations and upstart and intersting banking establishments. This modern financial world is ripe with it...I think that Zopa just made the grass a little longer for the snakes to hide in.
rife, not ripe...geez i'm dumb.
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