Collateralized debt obligations != "woooooo!"
Collateralized debt obligations == "BooHoo!"
Collateralized debt obligations == "BooHoo!"
I forgot my sarcasm tag
Despite the fact i used "
" in my post about subprime mortgages, we should think about some "wall street type guys"-functions.Maybe I shouldnt have brought up Micro Loans and NXT may not want anything to do with them, but in 5 years I might want to help out the lady next door with her new small business by giving her a micro loan to buy a sewing machine, I wondered how the NXT platform could be used to both our advantages. Could NXT be the platform for micro loan contract/implementation/repayment rules etc, but then a different currency,lets call it DOSH or MicroNXT, which is built on NXT and my preferred day-to-day currency and which the sewing machine shop also accepts. So I can pay him but when she comes to pay me back, she still uses Bitcoin, so either she or I exchange that back to my preferred currency - DOSH. I'm just thinking of future real world applications and how this could play out using NXT features. If she splits with my Dosh, then thats my bad debt and I adjust the contract accordingly and also write negative feedback in her NXT public profile. Thats the way of the world.
... I might want to help out the lady next door with her new small business by giving her a micro loan to buy a sewing machine, I wondered how the NXT platform could be used to both our advantages.
- just give her dollars (and she would be happy). Nxt can not help here.Nxt shouldn't be considered a debt obligation, but other assets in the asset exchange are inherently IOUs. Any IOU issued on the AE should be able to be "loaned". Trusting someone for an asset is an interest free loan and requires no contract. Interest free loans are the core part of the social credit system.