Apple's latest patent application is called Ad-Hoc Cash Dispensing Network. The proposed patent amounts to a peer-to-peer lending concept using iTunes as the hub to let people loan or borrow small amounts of money to/from each other.How's it work? An app on your iPhone contacts potential lenders nearby (known by the fact that they would also have the app on their smartphones). Type in where you are, how much you need, and there could be a lender 100 yards away ready to hand over $20. The lender would be repaid from your iTunes account. You get charged a service fee which is split between the lender and iTunes.
Read more on Fast Company.
Posts
0 comments:
Post a Comment