Ripio’s main objective is to offer peer-to-peer lending within everyone’s reach in Latin America and eventually abroad.
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What does the company/project do?
Ripio’s main objective is to offer digital payment alternatives within everyone’s reach in Latin America, a region where 65% remain unbanked.
The Ripio Credit Network is a protocol that aims to bring enhanced transparency and reliability in credit and lending. The protocol enables peer-to-peer lending, regardless of where the lender and borrowers are located, and which currency is used.
By reducing the traditional banking brokerage costs and management fees, Ripio aims to allow better conditions for both sides, creating a better credit alternative than what’s available today.
By including an intermediary agent (the Cosigner), the Ripio Credit Network seeks to neutralize the lender’s credit risk and, in case of a default, provide an alternative mechanism for managing the debt collection in the borrower’s country of residence.
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What are the tokens used for and how can token holders make money?
RCN Tokens will be required to facilitate transactions among the other agents in the RCN. RCN Tokens will be required to access the RCN network given that agents’ fees and obligations – plus the corresponding distribution expenses within the network – are driven by the use of these tokens.
As RCN tokens are (1) required for lenders to access the platform and (2) used to compensate agents, the more usage the Ripio Credit Network has, the more valuable RCN tokens should be.
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Opportunities
– Ripio has received VC funding from 2013 to as recently as April 2017, which could be an indicator that the companies is growing. VCs rarely fund a declining company. Ripio’s investors include well-known blockchain VCs. This means that the company has passed the scrutiny of these institutional investors.
– Ripio was a finalist of TechCrunch Disrupt Battlefield New York 2016, demonstrating that the team is solid.
– Detailed and well-thought-out white paper, showing that the team has a good plan as to execution.
– Ripio has a realistic game plan. It is focusing first on Argentina, then Latin America, then eventually abroad. We believe that this realistic approach is much better than ICOs that promote they will disrupt trillion dollar industries and expanding into geographic areas that they are not familiar with.
– Peer to peer lending utilizing blockchain technology has a lot of opportunities in Latin America because of the (1) large portion of unbanked people and (2) popularity of cryptocurrency in Latin America due to the high inflation rate.
– It is easy for borrowers to use the Ripio Credit Network because the borrowers receive local currency and don’t need to deal with any cryptocurrency – RCN tokens work under the hood. This helps drive adoption of Ripio.
– They have a no-discount policy, even for presale participants and VC investors, allowing a fair playing field for all participants
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Concerns
– The project requires a few different parties, including co-signers and wallet providers, to work. Ripio may not be able to find enough agents in time to scale the project.
– Many banks do not like cryptocurrency and refuse to deal with it. If cosigners cannot find a way to convert their RCN tokens back to fiat, the business model will break down.
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Disclaimer
The information in this video is for educational purposes only and is not investment advice. Please do your own research before making any investment decisions. Cryptocurrency investments are volatile and high risk in nature. Don’t invest more than what you can afford to lose. Crush Crypto makes no representations, warranties, or assurances as to the accuracy, currency or completeness of the content contained in this video or any sites linked to or from this video.
