All of this boils down to trust. Do people trust you, even total strangers?
World can't be entirely made trustless. Even though Blockchain makes it possible, p2p loan via blockchain, collateralized, not with trust but with another asset.
how much effort do you put towards your reputation?
Quantifiable+invisible
The invisible part is strongest. It takes much more effort than a numerical double digit next to your username in Hive, to trade tour trust for a loan.
If you can recollect the early days of BTC, what happened to BTCJam, ultimately closed, the p2p loan based on social media Web.2 status and even tieing the national ID proof did not work, Many took the loan and never returned.
I believe the amount of HP we have is just as important as our score.
Because I think the major HP holders trust HIVE and the HIVE community and will work for it.
World can't be entirely made trustless. Even though Blockchain makes it possible, p2p loan via blockchain, collateralized, not with trust but with another asset.
Quantifiable+invisible
The invisible part is strongest. It takes much more effort than a numerical double digit next to your username in Hive, to trade tour trust for a loan.
I had taken loan 8 years back based on my Facebook profile, I have heard that lenders tag every single relative & friend if you fail to repay.
If you can recollect the early days of BTC, what happened to BTCJam, ultimately closed, the p2p loan based on social media Web.2 status and even tieing the national ID proof did not work, Many took the loan and never returned.
I believe the amount of HP we have is just as important as our score.
Because I think the major HP holders trust HIVE and the HIVE community and will work for it.