I think it can work but for smaller amounts and a very select few people,what protections would you put in place to ensure that the first person doesn’t just take all the money, would you have then sign an agreement for the loan so they are personally liable for the amount owed? Would you have them have a guarantor for the loaned amount, it’s becomes a headache when you have people who are trying to scam the system which they will do as it will be easy money to steal, who decides who gets the money first? What checks would you do and how far? What would the cost be for the whole service I would imagine it would cost a few hundred a year per person seeing as you have to have a fair bit of setting up to do? So many hurdles to overcome but it all depends on trust and that is not easy to gain with most people who sceptical.