Crowdlending platform uses Bitcoin

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The growth of peer-to-peer lending has been consistently impressive, with more than GBP 5 billion lent since 2010 in the UK alone. Back in 2011 we wrote about a crowdsource service that bypasses banks to provide financial products via peer-to-peer investment. Now, BTCJam is a lending platform that deals in Bitcoin to facilitate international P2P lending. Founded in 2012 with the aim of providing affordable credit, the system boasts 19,905 loans funded, USD 24 million borrowed in over 200 countries to date, with 24 loans currently fundraising. Borrowers can complete a loan transaction in three steps: they make a loan…

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