[rglullis]

It's not just the time to get the loan. It's also the time to settle disputes. Say that you wanted to lend money to someone who gives a collateral, and they default. How long would it take to go to the courts to make sure you can get what it is owed? On the blockchain, this is instant.

[majormajor]

Setting aside the potential values of the human element (e.g. the ability of a court to void a contract deemed illegal or done under duress), isn't that only true for digital assets?

If you secured it against artwork, for instance, that might've already been shipped to another country.

(As an aside, I would be all in favor of expanding the court system so stall tactics are less effective.)

[rglullis]

> isn't that only true for digital assets?

Currently, yes. But even if we stayed only in the digital realm, isn't that already a huge improvement over the status quo? I can borrow and lend money quickly, without leaving my home. If someone has artwork to use as collateral, they can go to a pawn shop (or call it whatever fancier term there is for it), get the cash and use that to buy crypto tokens. No banks involved.