Ripio Credit Network

Ripio Credit Network RCN

$0.0451
Market Cap $ 22.911 MM (#305)
24h Volume $ 212.077 K
Chg. 24h: -0.34%
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Ripio Credit Network project purpose and description

Ripio Credit Network clarity of purpose

Ripio Credit Network purpose and aspects

Traditional credit systems suffer from excessive bureaucracy and leaves out the unbanked, while peer-to-peer lending platforms usually expose the lender to a lot of risk. Ripio solves that by creating a decentralized lending and credit rating platform based on smart contracts and blockchain technology

Ripio Credit Network additional differentiation against competition

n/a

Ripio Credit Network categories

Decentralized banking

Short description

RCN is a peer-to-peer global credit network protocol based on cosigned smart contracts and blockchain technology.

Abstract

Ripio Credit Network (“RCN​”) is a protocol based on smart contracts and blockchain technology, which brings enhanced transparency and reliability in credit and lending. The protocol enables connections between lenders and borrowers located anywhere in the world, regardless of currency. By reducing the traditional banking brokerage costs and management fees, RCN aims to allow better conditions for both sides, creating a better credit alternative than anything available today. By including an intermediary agent (the “Cosigner​”), the RCN seeks to neutralize the lender’s credit risk and, in case of a default, provide an alternative mechanism for managing the debt collection in the borrower’s country of residence.

Link to Roadmap: https://ripiocredit.network/wp/RCN%20Whitepaper%20ENG.pdf
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