How Blockchain is Revolutionizing Micro Lending
With a thriving microlending industry spanning many nations, many small business owners cherish the hopes of taking advantage of these lending opportunities to get themselves out of poverty. They are all hopeful that that small loan will help them to make that significant difference that will assist them in making progressive steps into the big league dominated by a few big boys. However, the reality in the lives of millions of people in the formal microlending sector is not as rosy as it may appear to be in adverts. For instance, the critics of the established lending institutions claim that the entire system is tilted to benefit the lenders, leaving the borrower on the receiving end where they live at the mercy of the lender. Doesn’t this description sound like what sage Solomon once said that, “The borrower is a slave to the buyer?”