Peer-to-peer banking, frequently referred to in blockchain-based finance, refers to the transfer of value without traditional intermediaries like banks. In the modern era and engrained within current practices, peer-to-peer banking is an online system enabling direct financial transactions between individuals through an auction-style process, where members can offer or request loans at specified amounts and interest rates.
Peer-to-peer banking, frequently referred to in blockchain-based finance, refers to the transfer of value without traditional intermediaries like banks. In the modern era and engrained within current practices, peer-to-peer banking is an online system enabling direct financial transactions between individuals through an auction-style process, where members can offer or request loans at specified amounts and interest rates.
Source: Wikipedia "Peer-to-peer banking" · CC BY-SA 4.0
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