Quote from: deadlizard on March 31, 2011, 07:13:39 AM

Credit Unions are a response to modern banking.
Since we don't have modern banking in the bitcoin community why not go back to the Building society or Friendly society models Wink

Interesting and I can see the point. But how does implementing one of those models relieve fraud? It addresses voluntary mutually benificial associations but still doesn't really provide a way to stop someone from walking away with the bitcoin and never repaying. Sure, they could do that with non-digital money too but it's a bit harder since we have to provide identity information for a traditional loan.

Thoughts?