Review on Ripio Credit Network by jesus ruiz
Ripio Credit Network, lending is now one of the smartest use cases for cryptocurrencies.
Today I present you a review about a global open source credit network, which has as its main purpose, to connect lenders, borrowers and loan originators on the Blockchain and thus create debt markets with the highest transparency and reliability in credit and loans.
Ripio Credit Network (RCN) is a global peer-to-peer credit network based on smart contracts previously signed by both parties, which facilitates connections between lenders and borrowers around the world and in any currency.
This network allows its users to access credit and grant loans. It uses the RCN token, its governance currency, which is a token based on ERC-20 technology. Ripio Credit Network has a smart contract technology embedded in the Ethereum blockchain, which makes peer-to-peer lending easier without the hefty transaction fees charged by traditional banks. The RCN token is the heart of this system.
RCN's decentralized marketplace allows its users to reach the most profitable debt markets in the world, no matter where they originate.
With the inclusion of an intermediary agent, "the consignor", RCN seeks to neutralize the lender's credit risk, in case of default, providing an alternative mechanism for debt management in the borrower's country of residence.
Pros
- With competitive interest rates and different exposure alternatives,
- RCN eliminates unnecessary friction, allowing lenders to start lending in three easy steps.
- RCN allows its users to access credit and grant loans in three easy steps.
Cons
- none at this time
