Hello friends, best regards me, 9emb3lelit3.
For this meeting, I will discuss about a future Platform that will provide accurate and highly reliable credit score, we welcome the Platfrom under the name, "CREDITO". well for more details let's follow my notes below.
Credito is a decentralized credit intelligence network that delivers credit value, transaction value and credit market with Ethereal Blockchain, Smart Contracts and IPFS, which increases visibility and reliability.
Credito brings financial inclusion to "credit invisibles" by providing accurate and reliable credit score.
The credit card fraud deficit in 2015 was $ 21.8 billion, according to a 2016 report by Nilson.
This represents a 162% increase from the 2010 figure of $ 8 billion. Losses for 2016 are already estimated at more than $ 24 billion, and this loss is expected to reach $ 31 billion by 2020.
The total value of credit and debit card transactions by 2015 is $ 31 trillion. While the total value of credit card transactions grew nearly 7% per year, credit card fraud grew 16% annually.
These losses occur throughout the system, including point of sale, ATM and online transactions.
While EMV chip technology has reduced the level of in-store fraud, it does not help online fraud.
On the other hand, the peer-to-peer platform, among the fastest growing segments of financial services.
Transparency Market Research estimates that "the opportunities in the global peer-to-peer market will be $ 898 billion by 2024, up from $ 26 billion by 2015.
The market is forecasted between 2016 and 2024 to grow by 48%.
The market for alternative financing has grown in popularity in recent years.
While growth forecasts for peer-to-peer loans are very promising, one of the biggest challenges is providing a system to reduce fraudulent and risky activity as this results in loss of trust and confidence among investors.
Challenge :
- Monopoly.
- Security.
- Main Information.
- Portability.
- Obsolete analysis and incomplete information.
Solution :
- Transparent.
- The loan agreement is a smart contract.
- Vertrauenslos.
As a solution to the above problem, we have created Credito Network or Credito only.
Decentralized Networks based on the Ethereal blockade, coupled with smart contracts and the Interplanetary File System (IPFS5), which provides the Credit Intelligence and Decentralized Lending Marketplace.
Credito promotes a widespread and proficient banking industry activity by allowing source and digital fi lter loan specialists to extend loans to people and institutions with undeveloped or young credit conditions.
The ecosystem provides a solution that enables each verified lender to safely and securely grant credit to a verified borrower.
Decentralization offers more security and confidence.
This is a way to organize everything in a way that does not require trust in others.
Trust is eliminated by running code that does not require centralized management, administration, or servers.
By decentralizing the loan, we do not need banks or intermediaries to conduct loan transactions.
Decentralization through the use of smart contracts also eliminates the need for trust between the borrower and the lender and creates a credible and transparent loan that is not available on the market today.
The assessment contract has 2 main functions :
- Respond to individual credit score requests
- Review third-party transaction scanning requests, it also tracks balance and usage metrics.
For each analysis node, the lease monitors the following metrics :
- Total number of requests assigned : The total number of recent requests approved by the node, both met and not met.
- Total number of completed queries : Total number of last requests completed by a node. This can be averaged based on the number of requests assigned to calculate the completion rate.
- Average response time : The timeliness of the node response, which is the efficiency indicator of the node. Average response time is calculated on the completed request.
- Node Reputation : Reputation of nodes based on previous scores transactions. All nodes verify and reconcile each other, if most nodes return the same value, the node becomes trusted. This reputation system helps identify and remove bad nodes from the network.
Loan agreement process, there are 6 stages to be done, namely :
- The creator makes a credit order in CreDApp requesting a loan by promising Token A as security for Token B, determining the interest rate, LVR and expiry time desired, and signing the request.
- CreDApp adds the maker's dynamic credo report to the request, verifies that the author has enough token A and freezes it until the loan is serviced or the loan request expires, and sends a request through Credito.
- The attacker cuts the request and decides to fill it.
- The recipient submits a request signed by the manufacturer with his signature to Credito.
- Credito authenticates the Author's signature, verifies that the request has not expired and has not been fulfilled, and then creates a smart assurance management contract by transferring security to a smart contract.
- CreDApp stores and executes Smart Contract on Ethereal Blockchain and Token B is transferred from Taker to Maker.
Token Distribution.
In order to continue the development, Credito will perform a one-time "TGE" Sales and Sales Fee, with 50% of tokens available for public sale.
The TGE start date will soon be announced and will provide a loan of US $ 1 billion.
As follows :
As follows :
- Employee distribution has a 12 month transition period, 25% - every quarter, with 6 months old rock. A proportional allocation to the ownership of each employee on the day the token is sold.
- With the distribution of Dana Credito, the transition period is 12 months.
Use of funds provided.
Roadmap.
Credito will expand in 6 stages and set important milestones in each phase.
Stage1, Completed.
- Concepts and research.
- registry credit.
- White paper.
- The proof of this concept is a high-speed transaction system.
- Start a website.
Stage 2, Registration, verification and partnership.
- CreDApp interface development.
- user registration.
- Automatic ID verification.
- Work closely with financial institutions.
Stage 3, Infrastructure Development and Intelligence.
- Development of external APIs.
- Infrastructure of analytical nodes.
- Development of credit development.
- Create a credit score.
- Model estimated transactions.
Stage 4, Development and Dissemination of Intellectual Contracts.
- Calculations and leases of intellectual contracts.
- Smart audit exams.
- Integrated smart contract with Credito Analytic Engine and infrastructure node.
- Runs on the test network.
- Try a trial version, give your partner a direct result.
stage 5, started.
- The main network starts.
- Decentralized intelligence controls are available for couples.
- External Analysis Node Operator that connects the network.
- Marketing and new partnerships.
Stage 6, From an end-to-end loan on a large network.
- Develop CreDApp and Mobile App.
- Development and audit of Smart Credit loan agreement.
- CreDApp Brand with Credit Smart Credit Credit Integration.
- CreDApp in the test network and the transition to the main network.
Team Credito.
Shikar Govindarajula - Founder.
Naren Allam - Head of Tecnology.
Haranadh Gavara - Data Intelligence Head.
Sudhakar Kanaparthi - Chief Strategist.
Dale Hawkins - Advisor.
Raja Sekhara Reddy - Technical Advisor.
Johann Caubergh - Advisor.
PARTNERS.
I think it's enough of my notes about this Credito Platform, if you are interested, or you feel something is not clear with my record of this, you can directly see the website below,
Author by 9emb3lelit3
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