News for hackers. Stuff that matters.

A comment on An engineer's observations on Web3 and its possibilities. Parent comment

Re:An engineer's observations on Web3 and its possibilities by toolz on Tuesday November 23, 2021 @04:23PM (#29323720)
Can you provide an example of someone claiming defi can provide solutions for loans?

The best I can come up with logically is something like cardano's prism that effectively puts a persons encrypted identity on the blockchain which allows that person to reveal things like their grades etc. to future partners as a means of quickly establishing trust. Maybe something like that could enable defi loans? Even that is a stretch.

[ Parent | on HN ]
Re:An engineer's observations on Web3 and its possibilities by hervature on Tuesday November 23, 2021 @04:43PM (#29323929)
Searching for "DeFi loan" returns a deluge of results with https://defirate.com/loan/ at the top for me. They seem content claiming that secured loans are useful loans.
[ Parent | on HN ]
Re:An engineer's observations on Web3 and its possibilities by spullara on Tuesday November 23, 2021 @06:36PM (#29325016)
They are primarily useful when selling the collateral would involve paying income taxes. Instead you borrow against it.
[ Parent | on HN ]