WHAT IS THE LIBRA CREDIT?
Libra Credit is a decentralized credit ecosystem that will ease open entry to credit based on the Ethereum blockchain network. It will be launched with cryptographic and cryptographic loans to form an ecosystem that includes:
- Internal credit models based on artificial intelligence.
- Acquisition of customers and electronic portfolio companies.
- Creditors and a stable monetary company to increase liquidity.
- Wide network of exchange associations.
- Association network for identity verification.
Libra Credit aims to offer a problem-free digital loan process that can be completed in 5 steps: application, verification and evaluation of credit, confirmation, guarantee deposit and outlay.
The Libra credit platform will focus on a double credit risk rating procedure that considers the creditworthiness of the surety and the borrower's credit information. Borrowers can promise any digital-assets as surety and receive loans on the desired assets.
Through the use of smart contracts and a proprietary system for assessing and settling guarantees, Libra will be committed to agreed conditions between borrowers, creditors, custodians, guarantors and liquidators.
The following is a diagram representing the Libra Credit ecosystem:
LIBRA CREDIT TOKEN (LBA)
LBA tokens will have the following purposes:
Registration: Access fee to the platform that allows borrowers to submit loan applications.
Transactions: Means of change in the Libra credit platform, service fees for successful transactions.
Awards: The symbolic prizes will be awarded to the stakeholders who contribute to the project through development or referrals.
Governance: LBA token holders will have the right to vote on specific projects and proposals to facilitate the development of the platform.
Because the use of LBA tokens is related to the activity level of the Libra credit platform, the more the platform has (in terms of members and transacted loans), the most valuable LBA tokens should be.
STRENGTH OF LIBRA CREDIT
- The team leading the project is exceptionally intelligent, with senior executives from PayPal and successful entrepreneur in the credit space. Their previous success in related entrepreneurial pursuit is a strong indicator of future success.
- Libra Credit is already working with promising projects like Radar Relay and MakerDAO to strengthen the platform. With the strong team in place, the project should not have a hard time acquiring valuable partnerships going ahead.
- The project is backed by various institutional investors who can provide the initial supply of fund and become lenders.
CONCLUSION
Lenders and Borrowers have suffered at the hands of the existing traditional credit system, taking advantage of their weakness for more extortation. Libra Credit is here to take away full power from these traditional credit operators and give the required services that you would appreciate. The ecosystem will benefit all parties involved and with the Blockchain Technology, all transactions are safe, secure and transparent.
Website: https://www.libracredit.io
Whitepaper: https://www.libracredit.io/page/Libra_Credit_Whitepaper.pdf
Telegram link: https://t.me/libraofficial
Twitter link: https://twitter.com/LibraCredit
LinkedIn profile link: https://www.linkedin.com/company/18560125/
Medium link: https://medium.com/libracredit
Author's ID: Phlaser
Email: investmentforthewise@gmail.com