So for example loans are extremely important for upward economic mobility, is anyone aware of financial institutions that currently offer loans in bitcoin? Is this something that will only
happen when bitcoin has large usage comparable to fiat in order to be stable enough for an institution to even consider giving a loan?
I don't know if right now there are any financial institutions that offerings loans in bitcoin because bitcoin is not accepted in many countries, so we could get a loan from the bitcoin member or in the websites that support bitcoin only. Maybe in the future, when bitcoin is accepted in all countries, we will see an institution offers that services.
Is there any novel solutions that make a loan self executing via smart contracts or will we always have to have trust trust when it comes to these kind of transactions?
Maybe soon we will see it will happen because so far, the ICO projects do not yet apply this and they are still at the exchanges.
What is the general sentiment regarding custodial services for people's bitcoin so they don't have to be concerned about storing it them selves?
Are there any examples of companies already successfully doing this?
I am not sure about that because I don't search more about that company, so I don't know.
Another reason people tend to open bank accounts rather than store money themselves is that they can get their money back in the event of being scammed
(a sense of security really). So is there any examples of companies providing insurance for people's bitcoin?
Until now, there are not yet companies providing insurance for people's bitcoin, and I think that the banks do not give protection from scammed too if the mistake is from us.
