Wallet of text is an accurate description! Proposal could have been a bit less wordy, but idea seems simple and practical.
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Wallet of text is an accurate description! Proposal could have been a bit less wordy, but idea seems simple and practical.
I apologize for the run on sentences and grammatical trainwrecks in certain sections. Certainly not a strong writer although I'm certain this is apparent if you read this far!
Thank you for taking time to browse over the proposal! When I saw you're reply pop up on my monitor to be honest I was quite excited for a moment.
Quick business related question if that's alright?
Was wondering if by chance you'd be willing to "partner up" with the Hive.Loans service in the form of allowing the @blocktrades account to be a trusted / whitelisted recovery account? Allowing your account to act as a whitelisted recovery account requires little to no human effort on your behalf.
Basically a publicly available, constantly updated list of users with active lending contracts would be provided and the only real function required of your service would be to run a quick check against the list when a user requests an account recovery from your service in order to ensure a user requesting an account recovery isn't doing so while being locked in to a lending contract in an attempt to circumvent their obligations to repay lenders on the agreed upon schedule.
If this isn't something you're cool with doing that is totally OK as well. Figured I'd ask though as you're a highly trusted individual in the ecosystem and many user accounts seem to have you as their recovery account.
Cheers man!
Sure, I think we can do this. However, just a clarification, I'm not sure we're a recovery agent for a lot of accounts. But to the extent that we do account recovery, we can definitely honor the list as it sounds like the loan transaction itself will show up clearly on the blockchain.
Thank you for hoping on board!
I can clarify more detail as well as point you towards the soon to be created list of accounts actively paying back lending platforms.
Highly appreciate you being a whitelisted account. :)
hey @blocktrades just wanted to point out, https://hive.dlease.io/ exists and has been functioning since steem days, its not well known, but instead of causing a powerdown like kyles plan, which loses the borrower the 3% apr on hive power, dlease collects the rental fee up front, and when the contract is established, the json sends the agreed upon delegation to the borrower, when the contract is up, the lender must go and recall the lending, just like the new leofi lending. So through the delegation system, the borrower does not need to put up collateral or power down, the lender is guaranteed payment as its collected and held in escrow till distributed by dlease.
Though, Kyles idea of the power down of borrower, would be more along the lines of supporting asset backed lending.
One idea that came to me today and is why I stumbled upon this post, was the fact that hive has no microlending platform, what if a hive proposal funded an account, that powers up hive, lends to people directly on dlease, then either chops that loan up into bite size pieces for individuals from $1- $1000. You can do it by individual loan contracts, probably super time consuming in long run, or have it like a pool, consumers buy token issued by new fund, this token pays out say half of loan income to holders, half gets powered up to grow lending capability.
This authority, funded by a proposal, would also collect HBD, throw them into savings always, the interest collected will then be used to build a fund that will act as direct seed capital for business startups and developers who seek to build on hive, and eventually real world investments like real estate. Problem is, im not a coder, you seem to be the best of the best on hive, can we collaborate in the future? This is one of many ideas id love to bring to hive.
EDIT---After reading comments on the proposal, I now see there is a distinct difference in that dlease lends staked hive power, and this service lends liquid hive. so please forget that idiocy, but microlending is one small idea I want to bring to hive, I have a couple truly revolutionary ideas, but I need all the best on hive, please let me know if we can discuss ideas in discord, or if you prefer we can exchange comments.