Your first point is well taken - without some sort of identity layer on the blockchain to create either social or reputational accountability, unsecured loans probably will not flourish.
Regarding you second comment, what's cool is that we can collateralize not just collectibles, but any ERC20 token as well, which makes the protocol substantially more attractive.
Regarding you second comment, what's cool is that we can collateralize not just collectibles, but any ERC20 token as well, which makes the protocol substantially more attractive.