Ripio Credit Network

Ripio Credit Network (RCN) is a decentralised protocol that leverages blockchain technology and smart contracts to facilitate peer-to-peer (P2P) lending globally. Operating on the Ethereum blockchain, RCN enables the connection between borrowers and lenders across different geographic locations and currencies. By integrating various roles within its ecosystem, such as oracles, ID verifiers, cosigners, and credit scoring agents, RCN seeks to bring greater transparency, security, and efficiency to credit transactions. The RCN token serves as the utility token in this network, facilitating interactions and payments across the various agents involved in each loan process.

RCN primarily aims to address inefficiencies in traditional lending systems by reducing the need for financial intermediaries and offering enhanced access to credit. It enables borrowers to obtain loans in local currency while allowing lenders to earn returns in their preferred currency, all while ensuring transparency and lowering risk through blockchain-verified transactions. Key use cases include:

*Decentralised Lending and Borrowing:* Facilitates direct lending and borrowing without a central authority, offering more competitive interest rates and cross-border lending capabilities.

*Credit Risk Management:* Uses blockchain technology and agents like cosigners, who act as guarantors, and scoring agents, who provide credit risk assessments, to minimise lenders' exposure to default risk.

*Default Management:* In cases of borrower default, cosigners can take responsibility for the debt, providing an alternative to traditional debt recovery and enhancing lender confidence.