My brother is really big into crypto, and convinced my dad to get $1k in ETH. Over thanksgiving, they were hanging out talking about crypto, and my dad said he wanted to mess around with swapping tokens around and layer 2's but didn't want to touch his principal. So he opened AAVE, deposited his ETH, and got a loan in about 5 minutes flat. I thought that was pretty cool? I've never taken a loan for anything but student loans but I imagine it would be infinitely more difficult and time consuming to get a small personal loan like that from a bank.
I definitely agree that a TON of the crypto space is super scammy, and think it's an absolute shame, I don't blame anyone for being scared off.
It's not very convincing if you don't have any experience with actually getting loans. A quick google showed me plenty of fast loan providers.
It's not? I feel it would be disingenuous to imply that traditional 'fast' loan providers can match the speed/ease of getting a loan in 5 minutes, sitting on your couch, on thanksgiving day, with the funds instantly being available and requiring no documentation, forms, or manual approval. I mean if I'm wrong feel free to show me, I might just be ignorant.
Affirm? https://www.affirm.com/
Arweave, for one, uses blockchain for a novel approach to data storage.
It's not novel. It's IPFS with all the problems of IPFS made a magnitude worse by financial incentives.
Looking at this: https://www.reddit.com/r/Arweave/comments/gu5elw/arweave_per...
The advantage it has over IPFS is guaranteed permanence and the incentivization is core to that functionality.
OK, what are they?