> without permission or interference from a third party
Aren’t other nodes the third parties?
If you are talking automated loan, you should look into credit lines backed by assets. Pledge assets lines. Once open, it’s fully automated and you don’t need to interact with a third party either.
They can't interfere with what you want to do. They could try to prevent you from interacting for a while but it would be futile. There are heavy disencentives, and decentralised enough. Which is why this has basically never happened. Talking strictly bitcoin and Ethereum here.
In honesty I have no experience with a pledge asset line but I can guarantee you that if the institutions involved in conducting it wanted to, they could cancel it on you anytime. With a correctly coded smart contract on Ethereum, you could ensure that never happens.
One system requires trust in third parties. One gives you the option to design a system to minimise or eliminate it.
PAL is 1-2 clicks once they are open. And you borrow a lot at a very low interests. You might lose your stocks though if the market goes down too much.
Please note that the lack of paperwork in Ethereum just means you borrow or loan money in a way that might be not legal. I am all for removing redtape here.
Aren’t other nodes the third parties?
If you are talking automated loan, you should look into credit lines backed by assets. Pledge assets lines. Once open, it’s fully automated and you don’t need to interact with a third party either.