A Global Credit Network
There are many people who are unable to obtain approval for a signature loan from a traditional banking system. Resultant of such, those individuals often turn to alternative methods in order to obtain the needed funding. However, they cannot build credit with such loans, since the credit records would not accumulate.
The solution is to build a system as they would with a traditional bank loan that stores credit records objectively.

What is Creditcoin?

"Currency is not only used to buy goods and services ... people should be able to lend and borrow to make it a currency."

- James Rickards, Currency Wars

A sound currency must be lendable. Our goal is to connect blockchain assets with a straightforward protocol to create an inter-blockchain lending market, bringing the crypto ecosystem closer to a sound currency. Creditcoin connects many blockchains to create a secure, transparent cryptocurrency lending market that allows fundraisers and lenders to connect directly with one another.

Fixed Transaction Fee
Transferrable Loan
Matching Loan Deals on Chain
Proof of Work (PoW)

How it works

A fundraiser posts seeking an amount with an interest rate, and collateral. The fundraiser also adds some Creditcoin to the offer.
Risk Assessment
When investment and fundraiser offers are matched, the investor will assess the risk of the opportunity based on the credit history of the fundraiser on the Creditcoin blockchain.
The system verifies the deals’s completion by confirming the exchange of collateral and investment. Once validated, the system sends the Creditcoin attached to the investment to the investor.
When the fundraiser is ready to return the investment with interest, the investor and the fundraiser announce the deal to the Creditcoin network. The investor and the fundraiser complete the transaction by exchanging collateral and investment with interest.

Credit Score

Example #1

X raises 100 USD-G and promises to repay 150 USD-G on Creditcoin. Y accepts the deal.
Y sells the loan to Z.
X and Z negotiates off-chain for a partial write-off of 40 USD-G. X repays 110 USD-G to Z which Z accepts.

Example #2

A user pays 100 USD-G to a game. The 100 USD-G is recorded as a loan from the user to the game on Creditcoin. The game gives the user 100 points.
The user uses 10 points on the game. The user writes-off 10 USD-G from the loan.
The user decides to get a refund for unused 90 points. The game pays user 90 USD-G for remaining 90 points. The payment is recorded as a repayment for the loan.

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know more?

White Paper
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