Student loans have had structured recovery mechanisms for decades, a missed payment in Manila doesn't vaporize the collateral the way a leveraged derivatives position does.
Sure, but "structured recovery mechanisms" on chain still means someone's paying gas to chase down a defaulted loan, and that overhead eats into recoveries fast.
Who ends up holding the bag when a 19-year-old in Manila can't pay back a crypto loan?
Student loans have had structured recovery mechanisms for decades, a missed payment in Manila doesn't vaporize the collateral the way a leveraged derivatives position does.
Sure, but "structured recovery mechanisms" on chain still means someone's paying gas to chase down a defaulted loan, and that overhead eats into recoveries fast.