[LINK] P2P banking? Ditch the bank – borrow from the crowd

[Kim Holburn]

http://www.newscientist.com/article/mg21228421.300-bank-says-no-ditch-the-bank--borrow-from-the-crowd.html?DCMP=OTC-rss&nsref=online-news

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> What you might not know is that there are technology solutions for banking every bit as powerful as social media such as Facebook that can step into the gap, making it possible, this very minute, for you to borrow or lend money safely online, completely independent of an actual bank. They're called peer-to-peer (P2P) lending services, and they have been around for years. This kind of "citizen banking" should be reshaping the business of borrowing and lending, and shaking the foundations of the financial industry in a way no amount of Occupy Wall Street protesting could accomplish. So what's the hold up?

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Kim Holburn
IT Network & Security Consultant
T: +61 2 61402408  M: +61 404072753
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