Locative Lab

researching locative media

Zopa


Here’s the way the world works (and it must be right because it’s been like this for hundreds of years…)

People who have spare money give it to a bank. Banks then do whatever
they like with it. Some of it they lend to people who need to borrow.
Some of it they give to their shareholders. Some of it they gamble on
the price of tin, or the dollar going down, or whether there’ll be
floods in Asia. Banks make lots of money from all this, a fraction of
which they give back to their customers.

Zopa though lets people who have spare money to lend
it directly to people, like them, who want to borrow it. No bank in the
middle, no huge overheads, no unethical investments.

To minimise any risk, the money each lender puts in
is spread amongst at least 50 borrowers (and likewise each borrower
gets their money from a number of different lenders).

Zopa is, therefore, for people who want to be a part
of something new. Who want to join a community of like-minded
individuals and lend to them and borrow from them in a trusting but
secure way.

Zopa is for people who are looking for a better rate of
return. Zopa’s interest rates aren’t squeezed by middlemen
(the banks) because there are no middlemen – that’s the Zopa
idea.

Zopa is for creditworthy people who earn money in new ways, in ways
that banks don’t always recognise. People who are self employed, people
who have peaks and troughs to their income, people who would be
invisible to a bank’s credit rating system but are seen and validated
by Zopa’s.

http://zopa.co.uk/ZopaWeb/public/how/idea.shtml

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About

Cityscape LocativeLab.org is Ronald Lenz's research website on locative & mobile media. This is mostly an archive of blogposts I find inspiring and interesting and an overview of my work. I'm a strategist, technologist and researcher in the field of Location-Based Mobile Services and work at Waag Society, a medialab in Amsterdam, The Netherlands where I head the Locative Media research program and at 7scenes, a platform for GPS games and tours as creative director. Picture 4 Find me at Twitter, LinkedIn or via ronald [at] waag [dot] org.

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