'In order for the industry to expand significantly and to have more impact in the world, we have to bring the broader global economy to the space,' co-founder Mike Sall tells Axios.
Goldfinch CEO Mike Sall. Photo illustration: Annelise Capossela/Axios. Photo courtesy of Mike SallThe big picture:
"In order for the industry to expand significantly and to have more impact in the world, we have to bring the broader global economy to the space.": Sall is talking his book: Goldfinch, which runs on the Ethereum blockchain, aims to bootstrap small, non-crypto businesses in emerging countries into the global economy with undercollateralized crypto loans.
"All the assets and transactions are visible right there on-chain. And that’s also the reason why a lot of the [centralized finance] players actually paid their DeFi obligations first, because you can’t hide and you can’t lie," Sall says.: Potential borrowers can propose a so-called Borrower Pool to investors on the platform who are looking to generate yield.
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