Review on Ripio Credit Network by Jesmin Akter

The platform utilizes smart contracts and blockchain technology in combination to provide a more trustworthy foundation for both lending and credit. It aims to become a go-to worldwide solution for lending and borrowing, using its strong credit network. According to RCN, they aim to continue to grow as a one-stop solution for all lending, lending, and P2P borrowing operations, while also building and improving the network's infrastructure and technological capabilities.



Because RCN holds to the belief that existing financial systems are rife with inefficiencies, it's likely to rise in popularity over time. RCN will serve as a significant financial influencer due to the strength of its idea, design, and execution. By making use of an age-old credit management method, such as guarantors on loans, the Ripio Credit Network was able to create a simple network architecture and a value proposition.



In my opinion, the Ripio project's distinctive and significant intellectual property is the idea of the Cosigner. Since a result, RCN has an early-mover advantage throughout Latin America and around the globe, as its customers are already in place. It may make it difficult for others to compete with RCN due to network effects that form around it. Additionally, RCN's incentive-based network approach is easy to comprehend. Agents should be attracted and retained because of the market's constant changes.



The platform enables interactions between lenders and borrowers globally, no matter the currency. It makes credit available to everyone on the planet, and provides loans. The RCN coin is an ERC-20 token like many others. To connect borrowers and lenders, this protocol incorporates smart contract technology built into the Ethereum blockchain, making peer-to-peer lending less expensive than conventional banking. RCN tokens serve as the foundation of the network. Demand for the token correlates directly to the intrinsic value of the token.



Blockchain technology based protocols enable connectivity among many parties including wallet providers, ID verifiers, scoring agents, cosigners, and credit exchangers. Each of these nodes performs a function that is beneficial to the lender by providing more useful tools for managing capital and reducing the cost of mediating loans. This allows borrowers to have access to additional financing, thereby expanding project viability.