Tuesday, February 13, 2007

How Web 2.0 is changing the Finance world...

Found an interesting site that allows people borrowing and lending money directly without involving any intermediates. People who need money posting their request amounts and max interest rate and people who are lending bid on the interest rate and amount. Although it is only for a small amount of money, if it turns out to be successful, it would definitely have a profound impact on the money market.

If you have extra cash and want to earn a higher return or if you need instant money and couldn't access a bank, you may want to try this. (But don't call me if you have any problem with that)



1 comment:

Sean said...

Very interesting and powerful idea.

I haven't checked the site, and I believe that it will also be very interesting that which triggers to decide the credit risk and the default risk. Also, who will take the responsible for the risk.