how blockchain affects personal loans

https://ace-wiki.win/index.php/How_Blockchain_and_Personal_Loans_in_South_Africa_Are_Changing_Borrowing

Blockchain is starting to change personal loans by letting lenders verify your identity and income without digging through piles of documents. Instead of relying on a credit score alone, smart contracts can automatically release funds once you meet agreed terms, cutting out banks and their fees. This could mean faster approvals and lower rates for borrowers, but it also raises questions about privacy and what happens if the system glitches.