Credito Network : THE FUTURE OF CREDIT INTELLIGENCE

What is the need of decentralized and transparent Credit Intelligence platform ?
On the other hand, peer to peer (p2p) platforms are among the fastest growing segment in the financial services space. The market for alternate finance gained popularity in recent years. A finding by Transparency Market Research suggests that “the opportunity in the global peer-to-peer market will be worth $898 billion by the year 2024, from $26 billion in 2015. The market is anticipated to rise at a CAGR of 48% between 2016 and 2024.
A finding by Transparency Market Research suggests that “the opportunity in the global peer-to-peer market will be worth $898 billion by the year 2024, from $26 billion in 2015. The market is anticipated to rise at a CAGR of 48% between 2016 and 2024.2 ” While the p2p platforms continue to face the risk of default, and fraudulent practices, the growth prospects of this segment remain strong, especially in times when the banking sector continues to struggle with lingering damages. Thus, a decentralized and transparent Credit Intelligence platform offers great opportunity for Lenders, Borrowers, and Financial Institutions to reduce their risk.
How Credito is the Solution ?
Credito is Transparent
Credito leverages the transparency that the blockchain ledger provides by monitoring the activities of borrowers and lenders to prevent either party from overextending themselves. For example, it would be used to prevent a borrower from obtaining multiple loans from different lenders which he would then be likely to default on.
Credito Loan Agreements are Smart Contracts
Credito Loan Agreements are self-executing contracts with the terms of the agreement between Lender and Borrower, directly written into lines of code which brings enhanced transparency and reliability. The code and the agreements contained therein exist across a distributed, decentralized blockchain network. Credito Loan Agreements permit trusted transactions and agreements to be carried out among disparate, anonymous parties without the need for a central authority, legal system, or external enforcement mechanism. They render transactions traceable, transparent, and irreversible
Credito is “Trustless”
Credito will avoid risks that are associated with third parties, and also removes the need to trust the counterparty. When the borrower places the loan request on Credito Network, the counterparty cannot manipulate or halt the loan request once the loan is deployed. Removing the counterparty or third party risk is vital to avoid any unfair and unwanted behaviour.
Credito Analytic Engine
Credito scores aim to derisk the investor’s investment and the borrowers’ credit score. Credito scores are generated by Credito Analytic Engine, a self-learning algorithm using a continual feedback loop with the help of Big Data analytics , Machine learning, and Artificial Intelligence, offering a score which acts as a dynamic marker of a person’s probability to repay a loan amount, which evolves with the client’s record of loan repayment.
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