> anyone can borderlessly lend and borrow in seconds.
You can only do _secured_ lending and borrowing, and only where the security is, itself, a highly liquid digital token.
Person A lending USDC to person B, taking ETH for security, isn't doing much for the world at large except allowing B to defer his capital gains tax.
Unsecured lending, backed only by the faith or expectations we have around future cash flows, is how the world creates opportunity for true investment and growth... and impossible in a trustless and anonymous system like crypto.
You can only do _secured_ lending and borrowing, and only where the security is, itself, a highly liquid digital token.
Person A lending USDC to person B, taking ETH for security, isn't doing much for the world at large except allowing B to defer his capital gains tax.
Unsecured lending, backed only by the faith or expectations we have around future cash flows, is how the world creates opportunity for true investment and growth... and impossible in a trustless and anonymous system like crypto.
Hardly limitless possibilities