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Peer-to-peer lending

Peer-to-peer lending
Peer-to-peer lending (also known as person-to-person lending, peer-to-peer investing, and social lending; abbreviated frequently as P2P lending) is the practice of lending money to unrelated individuals, or "peers", without going through a traditional financial intermediary such as a bank or other traditional financial institution. This lending takes place online on peer-to-peer lending companies' websites using various different lending platforms and credit checking tools. Overview[edit] The interest rates are set by lenders who compete for the lowest rate on the reverse auction model, or are fixed by the intermediary company on the basis of an analysis of the borrower's credit.[1] Borrowers assessed as having a higher risk of default are assigned higher rates. Lenders mitigate the individual risk that borrowers will not pay back the money they received by choosing which borrowers to lend to, and mitigate total risk by diversifying their investments among different borrowers.

http://en.wikipedia.org/wiki/Peer-to-peer_lending

Related:  Sharing/Open source

Time banking Time banking is a pattern of reciprocal service exchange that uses units of time as currency. It is an example of a complementary monetary system. A time bank, also known as a service exchange, is a community that practices time banking. The unit of currency, always valued at an hour's worth of any person's labor, used by these groups has various names, but is generally known as a time dollar in the USA and a time credit in the UK. Peer-to-peer renting Peer-to-peer renting refers to the process of an individual renting an owned good, service, or property to another individual. It is also referred to as Person-to-Person rental, P2P renting, Collaborative Consumption, the sharing economy and Product Service System. The term is mainly used to describe online enabled rental transactions between individuals. Individuals have been renting from each other for decades, particularly in the real estate domain, however, with the Internet acting as a facilitator, there is a growing trend of websites that offer to facilitate peer-to-peer rental transactions.

Gold in them bits: Inside the world’s most mysterious Bitcoin mining company This is the first in a two-part series exploring Butterfly Labs and its lineup of dedicated Bitcoin-mining hardware. In part one, we look at the company and the experiences customers have had with it. In part two, to be published on June 29, we share our experiences running a Bitcoin miner for a couple weeks.

What is Kickstarter 1. Kickstarter is a new way to fund creative projects. We’re a home for everything from films, games, and music to art, design, and technology. Kickstarter is full of projects, big and small, that are brought to life through the direct support of people like you. Since our launch in 2009, 6 million people have pledged $1 billion, funding 60,000 creative projects. Thousands of creative projects are raising funds on Kickstarter right now. Category:Science Science needs to learn to accommodate this qualitative realm, and learn to understand it - not quantitatively, but qualitatively. This requires new methods and ways of thinking for science -- not outside of a (limited) science, but within an expanded one. - Michael Mehaffy This section should cover both scientific concepts about P2P (network theory and such), but also the use of P2P practices within the field of science.

Collaborative consumption A sharing economy takes a variety of forms, often leveraging information technology to empower individuals, corporations, non-profits and government with information that enables distribution, sharing and reuse of excess capacity in goods and services.[1] A common premise is that when information about goods is shared (typically via an online marketplace), the value of those goods may increase, for the business, for individuals, and for the community.[2] Collaborative consumption as a phenomenon is a class of economic arrangements in which participants share access to products or services, rather than having individual ownership.[3] The collaborative consumption model is used in marketplaces such as eBay, Craigslist, Tradepal and Krrb, emerging sectors such as social lending, peer-to-peer accommodation, peer-to-peer travel experiences, peer-to-peer task assignments or travel advising, car sharing or commute-bus sharing.[4]

Germany recognizes Bitcoin as a “private money,” subject to capital gains tax In response to a query by a member of parliament, the German Finance Ministry has declared (Google Translate) that it accepts bitcoins as a “unit of account.” The Ministry added that bitcoins are a sort of “private money” and that mining bitcoins constitutes “private money creation.” The Ministry also clarified that if a German taxpayer holds bitcoins for more than a year, she is exempt from paying the 25 percent capital gains tax. Such a tax would ordinarily be paid after profiting from the sale of a stock, bond, or other security. However, taxpayers are now required to pay taxes on any profits made from Bitcoin transactions that happen within a year.

Peer-to-peer A peer-to-peer (P2P) network in which interconnected nodes ("peers") share resources amongst each other without the use of a centralized administrative system Peer-to-peer (P2P) computing or networking is a distributed application architecture that partitions tasks or work loads between peers. Peers are equally privileged, equipotent participants in the application. Defining P2P as the relational dynamic of distributed networks 2.1.A. Defining P2P as the relational dynamic of distributed networks Alexander Galloway in his book Protocol makes an important and clear distinction between centralized networks (with one central hub where everything must pass and be authorized, as in the old telephone switching systems), decentralized systems, with more than one center, but these subcenters still being authorative (such as the airport system in the U.S. centered around hubs where planes must pass through), from distributed systems, where hubs may exist, but are not obligatory (such as the internet). In distributed networks, participants may freely link with each other, they are fully autonomous agents.

Bitcoins: Why They're More Than a Bubble The volatile rise-and-fall of Bitcoin has prompted lots of stories explaining why the online virtual currency is a classic bubble. Many compare it to tulip mania in 17th century Holland, where prices of rare tulip bulbs soared to absurd heights and then crashed, ruining the speculative investors who had bought them. But the Bitcoin phenomenon is more than a bubble. It says something important about the current and future state of the global economy. The scale of the recent boom-and-bust has been staggering indeed. At the start of the year, a Bitcoin was worth $13.51.

Create Your Business Breakthrough Diane Conklin Title: The 5 Keys To Business Success Diane Conklin is an internationally known author, entrepreneur, coach, consultant, and speaker. Peer Governance If peer to peer is the relational dynamic at play in distributed networks, and peer production the process whereby common use value is produced, then peer governance refers to the way peer production is managed. See also the related concept of Panarchy Vasilis Kostakis:

Characteristics of P2P 3.3.C. Beyond Formalization, Institutionalization, Commodification Observation of commons-based peer production and knowledge exchange, unveils a further number of important elements, which can be added to our earlier definition and has to be added to the characteristic of holoptism just discussed in 3.4.B. In premodern societies, knowledge is ‘guarded’, it is part of what constitutes power. Guilds are based on secrets, the Church does not translate the Bible, and it guards its monopoly of interpretation. Knowledge is obtained through imitation and initiation in closed circles.

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