# kaal:claim:3606663-024

**Claim.** DeFi platforms grant the unbanked access to the loan market by disintermediating existing banks, connecting borrowers and lenders directly in peer to peer networks and accepting digital assets as collateral with far less documentation than banks require.

**Type.** mechanism  **Support.** argued

**Holds when.**

- borrowers excluded from centralized banking for lack of documentation
- DeFi lending protocols

**Source quote.**

> DeFi platforms grant the unbanked access to the loan market by disintermediating existing banks. DeFi Dapps connect borrowers and lenders in peer-to-peer networks directly.

**From.** Kaal, *Digital Asset Market Evolution* (2020), b) Lending and Borrowing, page 24

**Cite as.** Kaal, Digital Asset Market Evolution (2020). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3606663

**Verify.** sha256 of source PDF `d1d4a15a293b715bb6a5a32e689f59c3a1587915039ba9a1cf4eeb8ee2a1e57c` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202020%20-%20Digital%20Asset%20Market%20Evolution.pdf

**Topics.** defi, systemic-risk, decentralization

**Keywords.** defi, lending, financial-inclusion, unbanked, disintermediation

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