None of these explain how unsecured lending works. Goldfinch says that "borrowers are required to pledge real-world assets as collateral" and in the event of d

None of these explain how unsecured lending works. Goldfinch says that "borrowers are required to pledge real-world assets as collateral" and in the event of default the pledged collateral is liquidated. [1] So that's not unsecured lending. Truefi says that they only lend to institutional borrowers who sign an enforceable lending agreement. [2] So that's a traditional lending agreement that is enforced by courts of justice. Maple also says they only lend to institutional and corporate borrowers [3]. In conclusion, none of these are real world examples of "borrowing and lending to other parties without the parties having to trust each other or having to wait for a slow and expensive legal system to work it out". > These all offer rates competitive or superior to traditional methods Also what do you mean by competitive rates? Note that if the borrower is getting paid interest at a rate above the market rate, the borrower is getting paid a competitive rate, but the lender is paying an uncompetitive rate. [1] https://docs.goldfinch.finance/goldfinch/general-faq https://docs.goldfinch.finance/goldfinch/general-faq [2] https://blog.trusttoken.com/introducing-truefi-the-defi-protocol-for-uncollateralized-lending-9bfd6594a48 https://blog.trusttoken.com/introducing-truefi-the-defi-prot... [3] https://maplefinance.gitbook.io/maple/protocol/borrowers https://maplefinance.gitbook.io/maple/protocol/borrowers