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Ripio Credit Network (RCN)
A Global Credit Protocol Based On Blockchain.
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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 thecore 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.