I love the idea and theory behind this concept. The mere thought of this is by giving to help others in need.
A system where you can loan items for a specified time. Upon the expiry of the time the items are returned to the owner.

The only difficultly in implementation of this is, the programming behind the system.

How would the system differentiate the specific loaned item if there is more than one in the inventory? what about items that are enchanted? The load out system has faults existing when more than one of the same item is in the inventory.

What occurs when the items loaned to party 2, and party 2 decides to sell or give the item away? (Risk in scamming).

In a Utopian world we can all trust our friends and no one scams. But we do play in that type of world now within our current gaming community.