Ripio Credit Network (RCN)
A Global Credit Protocol Based On Blockchain.- The Ripio Credit Network aims to build an "open global credit network that connects lenders and borrowers on the Ethereum blockchain to create frictionless, transparent and borderless debt markets."
- Anyone will be able to issue loans or access credit via the Ripio Credit Network. Ripio further features optional "Cosigner-backed loans" that not only have a borrower and creditor, but also an originator ensuring and managing the credit details.
- At the core of the Credit Network is a a dedicated token, RCN, and several Liquidity Pools that allow it to settle and match lending and borrowing balances. The cryptocurrency-denominated funds provided by one lender can be exchanged via RCN, broadcasted to the blockchain and finally exchanged again for the borrower’s currency of choice.
- The RCN token is used to execute smart contracts for all participants on the network.