or maybe in Second Life in the Ayn Rand quadrant. In other words, if it is all in the internet, why should they place themselves under purview of Western laws and regulations? Are there no flags of convenience type of places that don’t care about what notes you sell to whom?
Would American government start blocking their Sealand based servers if they tried that?
oops, never mind. It sounds like I confused them with the likes of Kiva. Lending Club actually uses American credit scores, lends to Americans and may rely on American legal system to get loans paid back if necessary.
I guess if Kiva were less of a charity, it would have made a more interesting study of a lending system with minimal government enforcement.
Because they don’t want minimal government interference.