Mike Sall and Blake West are the founders of Goldfinch, a decentralized protocol facilitating uncollateralized credit.

“One of the borrowers is a company based in Uganda. They provide rent-to-own loans for motorcycle taxis to thousands of customers. They've borrowed $5m to expand their operations."

Thousands of people in countries like Uganda, India, and Brazil have been financed by Goldfinch loans through local lenders, largely without realizing crypto is the source of funds.

These local lenders are largely innovative fintechs in the global south, and have historically fallen into an uncanny valley — they need too much capital for what is available in their local financial markets, and too little capital to navigate foreign institutional markets.

Timestamps: 
(00:03:09) - The 'lightbulb' moment
(00:08:20) - The financing gap for emerging-market borrowers
(00:13:04) - Borrower profiles; Tugende, DiviBank, and Greenway
(00:15:43) - Interfacing with Goldfinch
(00:20:37) - Crypto-native KYC and how UID works
(00:23:18) - Bottlenecks for the global adoption of crypto
(00:34:40) - Compliance requirements for Goldfinch in the United States
(00:45:25) - Compliance requirements for borrowers in emerging markets
(00:50:56) - Demographics of ‘Backers’
(00:52:43) - Incentive alignment and fraud-prevention
(01:03:53) - Learnings from shipping a production smart contract system
(01:15:01) - Launching GFI token and governance of the protocol
(01:26:04) - The macro point of view

Into the Bytecode:
- Sina Habibian on X: https://twitter.com/sinahab
- Sina Habibian on Farcaster - https://warpcast.com/sinahab
- Into the Bytecode: https://intothebytecode.com

Disclaimer: this podcast is for informational purposes only. It is not financial advice or a recommendation to buy or sell securities. The host and guests may hold positions in the projects discussed.