Toward Cryptocurrency Lending

Lending has been posited as an application of blockchain technology but it has seen little real deployment. In this paper, we discuss the roadblocks preventing the effortless lending of cryptocurrencies, and we survey a number of possible paths forward. We then provide a novel system, Ụgẉo, consisting of experimental smart contracts written in Solidity and deployed on Ethereum to demonstrate how a decentralized lending infrastructure might be constructed.