Enabling loans without collateral is just the first step. The second step is doing it through a decentralized network that allows anyone to participate. We believe this will foster a whole new level of lending activity that can’t get funded today. Traditionally, it’s expensive for banks to underwrite because they don’t know their borrowers. This sets a threshold for the kinds of lenders that can operate, and it cuts out the long tail of what’s possible. We spoke with one person in Jakarta, for example, who wants to finance motorcycle purchases for people doing deliveries on foot, and another person in Lagos looking to make micro-loans within their community. They need $30K, or even just $4K to get started. But they don’t have the capital, and it isn’t worth the banks’ time.