[Growth Idea] Steem-based Lending System
The biggest problem of online lending systems is the lack of resources which could be easily deposit. In case when money are not returned, something has to be confiscated, otherwise whole system will bankrupt.
STEEM CAN SOLVE THAT
I have ~40000 STEEM locked up in form of SteemPower. I do not want to spend it, but truth is... that those SteemPower is worth certain amount of money. This could be used as deposit for my loan.
Whole idea is based on SteemPower delegation.
If I would like to borrow 1000 STEEM and I have more than 1000 SteemPower (which I do not want to spent), I simply power down this amount of money.
In next step, I send 1000 STEEM to special account of @steem-lending-service.
@steem-lending-service delegate 1000 SP to my account
@steem-lending-service send back to me 1000 STEEM. Now I have this same amount of functional SteemPower, but also 1000 STEEM which I can spent on my expenses.
I will need to pay my debt to @steem-lending-service on weekly/monthly basis with additional interest rate (profit for @steem-lending-service)
If I will not pay my debt, then SteemPower delegation is rejected and treat as confiscated wealth.
Basically, this would be working as system which basically lends you YOUR money, which you doesn't want to really spent. SteemPower would serve as a collateral, which you actually do not want to spent because you want to use it all that time - exactly like you would like to use your house when you use is as collateral when you take a loan.
From different perspective whole system could be seen as "SteemPower Delegation as a Service".
In that case, technically speaking step 2. and 4. could be skipped.
Is it a good or bad idea to use SteemPower delegation in such a way? I don't know... but technically it doesn't matter, because from technically point of view, this already can be done with current system, and what is more important we cannot know whether someone already do not use this feature in such a way ;)
This is my idea, however for sure I will not have time to work on project like this. I decided to describe this idea in hope, that someone else will evaluate it... and maybe even came to conclusion that it is worth of implementation.
in other words...
Who is needed to make this happen?
If you like this idea, please leave your feedback. For more awesome and crazy ideas consider following this account ( @noisy2 ) or my main account ( @noisy ) - or both :)