P2P Lending Regulation Looms as China’s Ezubao Ponzi Scheme Unravels

P2P Lending Regulation Looms as China’s Ezubao Ponzi Scheme Unravels

Peer-to-peer lending has become an emerging trend in various countries around the world. Especially in China, things seemed to be heating up, thanks to a company called Ezubao. But at the same time, rumours started surfacing this company’s intentions were less than honorable. At it turns out, Ezubao was nothing more than a Ponzi Scheme, hurting the public image of peer-to-peer lending in the country. When a platform specialized in peer-to-peer lending launches, the main goal for campaign creators is to secure additional funding for their project or idea. Unlike crowdfunding projects, P2P....


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Quotes

Yes, [we will not find a solution to political problems in cryptography,] but we can win a major battle in the arms race and gain a new territory of freedom for several years. Governments are good at cutting off the heads of a centrally controlled network like Napster, but pure P2P networks like Gnutella and Tor seem to be holding their own.

Satoshi Nakamoto, Bitcoin Developer