Twelve years after the mining of the genesis block in the bitcoin network, cryptocurrencies have seen a historic rise in popularity with investors. The cryptocurrency market value has surpassed $1 Trillion for the first time as Bitcoin reached an-all-time-high of $39,000 per coin.
Associate Professor of Finance at the California State University Long Beach College of Business, Dr. Laura Gonzalez, has conducted extensive research in financial technology for the past 10 years. In her most recent publication, “Pro-Social Community Investments Online: The case for Hispanic Peer-to-Peer Lending,” Gonzalez’s research provides a glimpse of how technology can facilitate the lending industry. Particularly, benefiting both the lender and the borrower while also having the potential to diminish race and gender bias within the traditional banking system.
In a recent interview, Dr. Gonzalez said “When I came to CSULB I started to look at how fintech could help make services more effective. Not until very recently, if you wanted to borrow money you had to go to a bank or use your credit card. Now, you can apply for those loans online. You have institutional investors assessing small loan applications, but now there are also people doing it online. So, you have the opportunity to reach a wide audience that may not have the preconceived ideas of traditional bankers.”
Peer-to-peer (P2P) loan services first started in U.K. and