Peer-to-peer lending for 1.3 billion peers
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Peer-to-peer lending continues to spread across the globe. We previously covered pioneers Zopa (UK) and Prosper (US), as well as German Smava and Dutch Boober. Recently, the concept was spotted in China. Smava's Chinese cousin PPDai—look closely and you'll spot a family resemblance in the design department—is currently in closed beta and will officially launch later this month. P2P lending enters a very different market in the People's Republic, where personal credit ratings are virtually non-existent, making lending to strangers riskier business. Which is why PPdai won't be taking on loans and 'reselling' them to lenders. Instead, PPdai primarily aims…
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