Near and dear to my heart…
The banks should be trembling. Nice preso, Sparkbuoy in New Zealand!
My previous posts: Citizen Bankers and Peace Prizes (2006), Social Lending Peer to Peer Banking in Australia (2007) Australia, Social lending in social networks (2007), Social network economy or the new digital economy (2008)
Business week says that social lending will be worth 10.6 billion dollars in the next oh, 18months. KaChing! Loan defaults are LOWER than in traditional banks.