P2P

File sharing is the ability for others to either view or edit a shared document that was created by another user. By file sharing, it allows people to view the same document over a shared network on different monitors. P2P stands for peer-to-peer sharing. P2P file sharing is the ability to locate needed documents and files on a server. Monitors are connected to a software program that connects the user to a network, where they can access different types of files and documents. P2P isn’t limited to just file sharing. An example is P2P loaning. Instead of taking out a loan the traditional way, from the bank, an individual can take out a loan directly from investors/lenders with technology. According to an article on “The Industry”, interest rates for loans that are taken from P2P loaning are lower than loans that are taken out the traditional way. The time frame in getting the loan is also quicker. The application process is relatively easy enough for the individual to navigate themselves. Prosper, is a leading company in the peer-to-peer industry that has been using that type of technology for a long time now. In 2013, Google invested in the Lending Club which is a rival of Prosper. Rumor is that Google wants to apply that technology to their Google Wallet and break into a different industry.