Charles Hoskinson is a very bright guy. I dont follow Cardano close enough to know what is truly taking place there. However, a lot of his ideas have a great deal of merit.
His latest is the idea of modeling after Kava which could then, in this negative interest rate world, send corporations to better returns through a similar lending platform built on Cardano.
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I don't follow Cardano much either but I don't know how well he will maintain this success. What happens if people keep taking loans but have no ability to take them. I need to see evidence backing it first.
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Kava has a huge track record of success. The microlending has near 20 years of achievement. People tend to pay those loans back because they are small and they depend upon them.
There is a rating system similar to Uber drivers but for borrowers. Fail to pay back and a major strike against you.
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True the reputation system is definitely a good way to keep track of users. But I guess they would require some way to verify people unless you want people to make multiple accounts and get many loans.
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I forget how it worked; havent looked at the site in years. They had to be verified through some means.
It wasnt completely just throw money out to whatever profile wanted it.
Plus the individual "lender" could choose from the profile who to lend to.
Perhaps with blockchain, there is more that can be done to link an individual to an account at least.
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