CREDITO: You’re Credit on the Decentralized Network

Credito is a decentralized credit intelligence network providing credit scores, transaction scores and lending marketplace powered by Ethereum blockchain, Smart Contracts and IPFS, bringing enhanced transparency and reliability.

Credito brings Financial Inclusion to the “Credit Invisibles” by providing accurate and reliable credit scores.

According to a 2016 report by Nilson, losses from credit card fraud amounted to $21.8 billion in 2015 that’s an increase of 162% from the 2010 figure which was $8 billion. The losses for 2016 are already estimated at over $24 billion, and these losses are expected to reach $31 billion by 2020.

The total value of credit and debit card transactions was $31 trillion in 2015. While the total value of credit card transactions is growing at close to 7 percent a year, credit card fraud is growing at over 16 percent every year.

These losses occur throughout the system, including at the point of sale, at ATMs, and during online transactions. While EMV chip technology has reduced the incidence of in store fraud, it does not help with online fraud.

On the other hand, peer to peer (p2p) platforms are among the fastest growing segment in the financial services space. 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. The market for alternate finance gained popularity in recent years.

While the growth projections for p2p lending are promising, one of the major challenges is providing a system to reduce fraudulent and high risk activities, as they result in loss of investor confidence and trust.

Challenges:
1. Monopoly
2. Security
3. Centralized Information
4. Portability
5. Outdated Analytics and Incomplete information

Solution
i. Transparent
ii. Loan Agreements are Smart Contracts
iii. Trustless

As a solution to the above problems, we have created the Credito Network, or simply Credito. A decentralized network based on Ethereum blockchain coupled with smart contracts and Interplanetary File System (IPFS5) providing Credit Intelligence and Decentralized Lending Marketplace.

Credito encourages the expanding and proficient operation of the credit industry by permitting both fiat and digital resource loan specialists to broaden credit to people and establishments with underdeveloped or a juvenile credit framework. The ecosystem provides solutions to enable any verified lender to safely and securely issue credit to the verified borrower.

Decentralization provides more security and trust. It is a method to organise anything in a way that does not require trust on third parties. The trust is eliminated by executing code that does not require centralized governance, management, or servers. By decentralizing lending, we do not require banks or any other intermediaries for conducting a loan transaction.

Decentralization through the use of Smart Contracts also removes any trust requirement between borrowers and lenders, providing a trustless and transparent lending environment unavailable in today’s market.
ICO Information & Team ( https://credito.io/)

To grow this platform on a global scale and develop it further, they will be conducting an ICO. 50% of Token will be available to the public while 20% will be reserved for the analytic node operators.

45% of funds will be utilised for the research & development while 20% will be utilised for network infrastructure. They are going to build a super-efficient and secure platform based on blockchain technology.

The Team at CREDITO is experienced in the fields of banking and technology. Srikar has more than a decade of experience in data communications and finance. They are able and credible professionals ready to deliver change.
More Information Connect to Credito

Official Website: https://credito.io/
Whitepaper Link: https://credito.io/pdf/whitepaper.pdf
Telegram Channel: https://t.me/CreditoCommunity
Official Facebook Page: https://www.facebook.com/CreditoNetwork
My profile Bitcointalk:https://bitcointalk.org/index.php?action=profile;u=1821576

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