Ripio Credit Network (RCN) is a global credit network based on smart contracts designed to connect lenders and borrowers anywhere in the world and in any currency. Smart contracts connect agents with identity information to a borrower’s credit risk analysis agency freely. The Ripio credit network standardizes credit lending through blockchain technology. A cosigner (guarantor) acts as a reinsurance distribution company and reduces loan risk and, at the same time, improves contract terms by retaining access to the borrower’s internal management system. get a loan.
Ripio Credit Network was formerly known as BitPagos. The name Ripio means “golden gravel” in Spanish. The name was chosen because gravel serves as the foundation for new roads, like “Ripio aims to build new roads in the digital economy.” The RCN whitepaper also describes the company as one of the most promising Bitcoin startups in Latin America.
The RNC platform was first launched in May 2016. The token sale takes place throughout October. The full-featured platform is expected to launch in April 2018.
How does Ripio Credit Network work?
RCN aims to provide value by reducing traditional bank brokerage fees and management fees. The end result is a credit option better than any other platform available, with good terms available to both parties.
RCN also aims to neutralize the credit risk of lenders by creating an intermediary named “Cosigner”. In the event of a default, there will be an “alternative mechanism to manage collection in the borrower’s country”.
RCN is not a new startup. The company introduced a digital wallet called Ripio. BitPagos provides merchants with access to BTC-based financial services, while Ripio allows users to send, receive, store, buy or sell BTC in local currency. Overall, Ripio has 100,000 users across Latin America.
Ripio is led by founder and CEO Sebastian Serrano, former CEO of DevsAr.
David Garcia – Member of the Board of Directors of SVP
Eugenio Cocimano – Data Scientist
Juan Mendez – Head of Growth
Antonio Ceraso – CTO and blockchain developer
Facundo Rodriguez – Blockchain developer
Pablo Lefort – Full Stack developer
Agustin Aguilera – Smart contract developer
Ripio founder and CEO Sebastian Serrano says that the company’s main goal is to democratize the digital economy in Latin America, providing digital payment options within the regional population. area where 65% of the population remains unchecked.
Ripio Credit Network, or RCN, is a blockchain-based lending solution that connects lenders with borrowers. Lenders can earn high interest rates on their money, while borrowers can easily access loans outside of the conventional credit and financial system.
You can see the RCN price here.
Dislaimer: This information is provided as a personal blog, not general information or investment advice. We are not responsible for your investment decisions.
According to AZCoin News
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