Cryptocurrency is offering some amazong opportuntiies. Our task is to remake and provide an alternative to the existing financial system. This includes taking on all layers of the banking system.
In this video I lay out some ideas about using collateralization for mortgages and car loans. Really, once the foundation is in place, we can go many different directions. All of this changes what is used as collateral along with what happens on default.
▶️ 3Speak
I recently ran into a article about a place offering up NFTs as collateral and it kind of makes senses. However I feel like a stronger foundation is needed and mainly it feels like it's going to come from stablecoins at first. It will be interesting to see how it plays out. I know of one person right here on Hive that gives out "loans" and using's NFTs like Splinterlands etc as collateral. Still lots to take shape and happen but things are moving and we are getting there.
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The challenge with NFTs is they can be volatile and the liquidity can be thin. Naturally, if two parties agree, then there is no problem.
However, if we truly look at it, when dealing in collateral, liquidity and stability are required. So what you say is correct, we need a bit stronger foundation in my view. That is being worked upon.
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I think soon there would be more engagement of stable coins in the sphere and the banking sector has already started lagging behind the blockchain technology. In the current world, banking are like autocratic system which is not sustainable in the long run.
!PIZZA
There certainly is a lot more development taking place which we could call experimentation. That will allow for more things to roll out quicker than the established institutions can do.
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Is there a tool that can merge real life collateral with Blockchain tech?
There are applications working on it. Almost all are VC money so there is that to it. But it is starting to be opened up.
We just need to get Hive involved. One we get some things in place, I think expansion into it will be rather easy.
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We should enable collateralization of #NFTs and accounts with HP, then expand outside.
An interesting idea. Not sure how that would look exactly but if we get some infrastructure in place, I am sure people could toy with the idea.
It is why having a solid (or two) smart contract layers in place is crucial.
I think what you propose is possible. Once someone tosses the idea out there, others can start to add to it. Then things blossom.
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Yeah, smart contracts are way more important than I thought, lol.
Imagine having a marketplace that enables influencers to put their account as collateral. They form a proposal and the market decides whether it's worth it or not.
Big social media accounts can generate nice yields if being liquidated and the market might use it as leverage. Seems possible if you ask me.
On top of that, $HBD would have another sink.
It could have massive potential. Tokenization would also allow others to share in the profits a influencer was able to generate.
This is the thinking we need to have. We need the use cases for HBD to explode.
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Or build a platform that enables influencers to make an offer for their services, whether it be marketing, art, or anything else. We can trade services with ease, especially here, on Hive where everything's transparent, fast, and cheap to run. The protocol takes a small tax from both sides to make a yield and avoid spammers.
I mean the opportunities are endless.
I'm just writing this down in case I forget, it wouldn't be the first time. lol
The entire collateral issue is quite interesting and I think it would work out. It should work out and I think there could be ways for smart contracts to help in this process.
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Yes it will all be tied to a smart contract on a second layer. Then the collateral is posted and money distributed.
It is a way to start enhancing the reach of HBD in my opinion.
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I find myself watching all your videos lately, what do you think about that?
I appreciate it and hope you find them helpful.
The content is here to be viewed and help to pass along information.
Thanks for the support.
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It's actually very interesting and keeps me coming back for more.
Thanks.
At least I now know you arent watching to see the shine on my head.
I will do my best to keep putting out informative content.
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Yes it is.
I was talking about this four years ago. You have mortgages wrong.
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