A decentralized lending ecosystem that facilitates open access to credit anywhere and anytime based on the Ethereum blockchain.
Access to credit should be hassle free, real-time and simple. However, traditional financing is channel, product and geographic specific with onerous processes and outdated systems resulting in long cycle times and increased cost of capital. Heavy reliance on traditional lenders (e.g. banks, country centric P2P platforms) does not address future customer needs (i.e. getting credit when and where they need it and leveraging emerging crypto asset classes as collaterals). Global lending is expected to grow at 14% over the next five years driven by a rise in digital ecosystems and technology disruption which makes lending to more than two billion under-banked population a closer reality. Given these significant tailwinds, a global and open digital platform is needed to shape the future of lending, making it accessible to anyone, anywhere. Libra Credit is a decentralized lending ecosystem that facilitates open access to credit anywhere and anytime based on the Ethereum blockchain to be developed by Libra Foundation. Libra Credit will be launched in July 2018 with crypto-to-crypto and crypto-to-fiat lending underpinned by its industry-leading credit management capability and four distinctive partnership networks forming a world-class lending ecosystem that encompasses: - In-house Proprietary AI-based Credit Model; - Lenders & Stablecoin Partnership Network to drive liquidity; - Extensive Exchange Partnership Network to minimize default; - Identity Verification Partnership Network to expedite KYC & verification process. Libra Credit is a global initiative by Libra Foundation with a mission “Credit for the Real World”. The team has a track record in digital credit services across Asia. Powered by its proprietary big data, AI-based credit assessment technology and existing global partnership networks, Libra Credit has the expertise and capabilities to realize its mission.