Review on Ripio Credit Network by Toprak Dere
About Ripio Credit Network
Ripio Credit Network is an open source global credit network that connects lenders, borrowers and lenders on the blockchain to create transparent and limitless debt markets.
The RCN token is the Ethereum smart contract that is at the heart of the RCN protocol and acts as a tool that allows value to be transferred seamlessly across borders and between currencies along the blockchain. Using a set of Liquidity Pool, funds provided by a Lender in another cryptocurrency can be exchanged by RCN, broadcast on the blockchain, and eventually re-exchanged for the Borrower's preferred currency. The whole process takes place in just a few seconds.
Blockchain technology allows the RCN network to outperform existing loan solutions by creating a transparent and completely unlimited alternative to traditional debt markets.
On the other hand, if there is no resource, the borrower can request loans with different durations, interest rates and amortization programs in the decentralized market directly by offering the crypto currency as collateral. The collateralized funds are stored in the smart contract and guarantee their security until the loan is repaid.
Pros
- In an increasingly globalized world, Ripio Credit Network is using blockchain technology to bridge the supply and demand of credit across borders, creating a new ecosystem for decentralized debt products.
- I think the future of Ripio Credit Network will be bright as it is a credit platform.
- professional team and perfect whitepaper
Cons
- not listed in most exchanges
