Ripio Credit Network (RCN)
Ripio Credit Network is a global P2P platform that uses the blockchain technology and smart contracts to connect borrowers and lenders regardless of where the parties are based and the currency they are using. The network is based on a co-signed smart contracts which mean it guarantees total reliability and transparency. The network was formally known as bitPagos before the name was changed to Ripio which means “gravel” in Spanish. The platform was launched in May 2016 and is expected to be fully featured by April 2014.
How does it work?
Ripio Credit Network protocol aims to enhance reliability and transparency when it comes and credit and lending. The protocol uses smart contracts a blockchain technology to connect lender and borrowers located anywhere in the world. The protocol also provides value by reducing management fees and banking brokerage costs. It also aims at neutralizing lender’s credit risk by including “the Cosigner”, an intermediary agent.
Ripio Credit Network features
Peer-to-peer network
RCN is a P2P network that enables connections between borrower and lenders. The network allows for better conditions for both sides, which means it creates a better credit alternative that other platform available today.
Smart contracts
RCN uses smart contracts to connect agents with information about borrowers. The information may include borrower’s identity. Agents use the information to analyze borrower’s credit risk impartially, thus standardizing lending through the blockchain technology.
Co-signature
This feature acts as the reinsurer that reduces and distributed lender’s risk and help them improve the conditions of the contracts by retaining access to the borrower’s local legal system.
RCN tokens
RCN uses the RCN token as the backbone of the protocol. The usual total supply of the RCN token is made available through public token sales. The last token sale took place in October 2017. A maximum of 1 billion tokens was supplied during the pre-sale. 42.5% token were sold, 8.5% was the minimum amount of crowd sale, 34% went to fund provisions and 15% went to network bootstrapping pool.
About Ripio Credit Network team
RCN was founded and founder and CEO Sebastian Serrano. Serrano is formers the CEO of DevsAr. Other team members include David Garcia, former manager of PayU Country. Garcia is the SVP and Board Member of RCN. Another member of the team is Luciana Gruszeczka. She is compliance office. Head of operations and Admin is Andres Fleischer, Eugenio Cacimano, Actuary & Data Scientist and Melody Bohn, Controller among others. RCN also has a team of core developers, advisor, and investors.
