Peer-to-peer (P2P) lending is one of the fastest growing sectors of the financial industry. In fact, a report published by Allied Market Research in 2017 estimated that the global peer-to-peer lending market would increase by almost 52% per year, reaching US $460 billion in value by 2022.
In case one strong projection wasn’t enough, another independent report by Adroit Market Research in 2019 found that the global P2P lending market was worth US $231 billion already in 2017, while it can potentially increase to nearly $700 billion by 2025 — right in line with the Allied Market Research report.
With the continued development of blockchain infrastructure and smart contracts, cryptocurrencies are sure to play a significant role in the P2P lending market going forward. There are already a few decentralized lending solutions out there, with plenty of room for others to join the competition in the years ahead.
But it’s not just going to be the big names like Bitcoin and Ethereum that are at the center of this sector’s…