Bitcoin Credit Union?
I would love to see a Bitcoin service where people can post how much money they want to borrow, then people who want to lend to that person can basically crowdsource the lending. I imagine there would be a rating system for borrowers (like eBay) so that people can know what they're getting into. A lower rating would result in higher interest rates.
So I imagine the listing would be like “Joe Schmoe wants to borrow 2,000btc. Lend him 5btc at 5% interest per year? YES/NO”
This could be very valuable in helping people escape credit problems, such as people who cannot pay more than their interest rate because they're being charged 20%+. If it got big, it could even help people secure financing for cars and homes.
Maybe something like this already exists. If it does, please point me to it. If it doesn't, we should try to make it happen. Maybe a kickstarter?
Read the original: http://www.reddit.com/r/Bitcoin/comments/va83i/bitcoin_credit_union/