Rootstock, a P2P platform based on the block chain that implements smart contracts using the capabilities of Ethereum with the transparency and security of the bitcoin network, is negotiating with the World Bank and some Latin American banks to provide microlending for the unbanked, according to the International Business Times. Rootstock hopes to give banks the means to issue loans from smart contracts.
Rootstock combines the capabilities of Ethereum with the bitcoin network’s transparency and security by using sidechain technology. Bitcoin serves as the fuel that runs the smart contract. Nick Szabo, an expert on smart contracts, has said Rootstock joins the best of bitcoin and Ethereum.
Rootstock’s official launch is scheduled for Dec. 4 and 5, 2015 at LaBitconf in Mexico City .
Rootstock Focus: Microlending
Because bitcoin has matured as a technology, it has allowed Rootstock to focus on use cases like microlending, according to Diego Gutierrez Zaldivar, Rootstock co-founder. He said Rootstock wants to target