More exciting news here at RCN! We are delighted to announce our partnership with Coinmanager, a multi-asset wallet for Bitcoin, Altcoins & Tokens which provides a robust and secure solution to store different digital assets.

Coinmanager has already listed the RCN token within their wallet and both companies are working together to test the integration of the RCN protocol. First Coinmanager pilots loans are expected to be announced during Q3 or Q4 of 2018. With hundred thousands of monthly active users, Coinmanager users will be able to request and fill out loans using the RCN protocol once the integration is finished.

Let´s go over an example to clarify how this integration will work:

Use Case: Wallet Users Acting as Borrowers & Lenders

The user requests a credit through the wallet. The wallet shares information about the application, the user’s profile and their transactional information, so that the Scoring Agent can assess their creditworthiness (wallet could develop its own score risk models). The Scoring Agent feeds the Wallet with the risk score associated with the borrower. The Wallet informs a Cosigner the conditions of the credit requested together with the score and the Scoring Agent that calculated it (the Wallet could develop its own Cosigner). The Cosigner will evaluate the credit risk involved in the operation and will require the borrower’s guaranteed deposit for the loan (0% to 100%). The Borrower provides a secure deposit for the term of the loan. The deposits are immobilized in the Cosigner and the Borrower will not be able to dispose of them until the Cosigner authorizes it or cancels the credit. The Wallet transmits the credit request in RCN so that the lenders can finance them. The broadcasted request includes the conditions of the loan (amount, term, rate) and the conditions agreed with the Cosigner (event of default,% of risk assumed by the Lender). The Lender accepts the Loan and provides funds.

* Initially the Cosigner and Scoring services will be developed and provided by RCN until a 3rd party would like to take these agents roles.