It is all about the reputation. Assured repayment has no place in a healthy loan market, where part of the loan's profits covers non-payment by bad risks. The entire point of loaning money is to give opportunity to someone who currently has none. The only difference between a blockchain based system and the current system we currently have is that a single ordinary person can potentially have more than one account (new reputation accounts in our current system are reserved for witness protection/victims and the elite).
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