Some people would say we're being overly-conservative. But I say we're being realistic for our first year planning.

consultants have told us to plan for 400,000 people a year. We're more conservative than that. We're planning on 250,000.

2016 has proven to be the year where the most forward-thinking financial institutions are actually using blockchain technologies for payments and settlement rather than as an experiment.

There are likely to be people who bid on certain loans because they want to support people they care about and can relate to. For example, a successful entrepreneur may remember the trials and tribulations of getting a loan to start her first business, and be instantly drawn to borrowers who are budding entrepreneurs.

We believe groups are at the heart of fostering a culture of responsible borrowers. While some people might be apathetic about paying their credit card bills, they're likely to be far more conscientious about their payment habits when their group's reputation is on the line. For instance, a member of a university alumni group won't want to shame their alma mater and fellow alums by giving them a mediocre group reputation.

That's just a huge spread. We think if you allow people to participate directly, it's a more efficient marketplace. People can make a better return on their deposits, which then become the source of credit to others.