How difficult would it be lending money to someone from across the world? Through different currencies? There are various obstacles if borrowers want to acquire funding through a foreign source, say a bank. In hindsight, the process is daunting and attracts numerous legal entities that will be suspicious of the transactions.









Ripio Credit Network (RCN) aims to build transparency for global lending & borrowing. RCN is a global peer-to-peer network protocol developed on the Ethereum blockchain. The purpose of RCN is to democratize the access the financial inclusion and their main goal is to allow borrowers & lenders to engage in monetary transactions—anywhere in the world—through smart contracts.





RCN's network relies on the co-signer. The co-signer can predict the default rate of the borrower and insures the loan in case the borrower goes into default. The co-signer will also have the ability for legal resolve in the borrower's country in case of default, such as legal recourse, refinancing, or reporting the borrower to the credit bureau.





David Garcia, Managing Director of Ripio Credit Network







David Garcia, Managing Director of Ripio Credit Network, states their platform is not a service, but a protocol.





"Other people can build decentralized service on top of our protocol and they can start providing lending services or allow people to invest in loans in a decentralized manner, in any currency... The co-signer plays a key role issuing the lease for the lender and allowing the borrower to access funds."





"Ripio" means "gravel" in Spanish. Garcia points out why the Argentinian founders chose this name.





"Gravel creates new roads in places where there weren't any roads before, and like gravel for roads, we are creating new roads for financial inclusion. That's the main condition behind the protocol that we have developed."





Garcia believes there is room for growth for FinTech companies and for traditional financial institutions to get access to this new economy.





"We believe in the future, we will be working with traditional and non-traditional institutions, to allow new types of loans and institutions to engage in the ecosystem."





Ripio Credit Network's public token is currently trading on major platforms such as Bittrex, Bitfinex, and Binance. Their utility token acts as the payment channel for the network and all transactions go through the RCN Token. Garcia concluded the interview with his emphasis on wallet providers, indicating they will play a key role in providing borrowers.





RCN just launched their second engine—Basalt. RCN indicated this is a huge improvement from their version 1, where users now have more liquidity.





For more info on RCN, visit ripiocredit.network.