CREDITO
About CREDITO
Credito is a decentralized credit analysis network that provides credit scores, transaction costs and credit markets supported by Ethereal, intellectual and IPFS contracts, increasing transparency and reliability.
The introduction of credit markets is decentralized and provides links between lenders and borrowers living anywhere in the world. This eliminates physical limitations and reduces traditional loan and management costs. Visit https://credito.io/
CREDITO TOKEN CreDApp consults with CreditO
At the time the order was made to receive the Creator risk profile and offer a better interest rate on the network. If the Creator wants the loan request fulfilled quickly, he can place an order with the interest rate previously cut.
Token Network Credit
Credits are the token ERC20 that serves as currency, management mechanism and rewards system using Credito. Credito will be able to set prices and receive payments for its services in the form of loans - the use of markers
All Credito participants have to pay royalties for the use of the loan, which will be burned if it has the potential to increase the remaining loan demand. The total amount of credit burned in each transaction is directly proportional to the decrease in supply.
It also depends on the exchange rate set by the network that will monitor inventory, market conditions and communicate exchange rate contracts at each particular payment moment.
Borrower and lender costs will vary depending on the transaction level, we estimate the value to be 0.5%. All three parties can integrate Credito Analytic Engine or access it from the outside and process it.
Credito creates a credit network for the credit industry to prevent credit risk by identifying fraudulent transactions as they arise, so industry can make informed decisions. Although financial institutions are typically known as one of the most strictly regulated sectors, this institution remains the target of fraud. The consequences of fraud are not significant, which leads to financial disaster for banks and customers. Although financial institutions are actively involved in detecting fraud and reducing fraudulent charges, they still lack the real global intelligence of all known scammers and compromises.
According to Nilson's report in 2016, the loss of credit card fraud in 2015 amounted to 21.8 billion dollars. USA, which is 162% more than the 2010 figure, which amounts to 8 billion dollars. United States of America. Losses for 2016 are already estimated at more than 24 billion dollars, and it is estimated that by 2020 the losses will reach $ 31 billion.
The number of transactions with credit and debit cards by 2015 is $ 31 trillion. While the total value of credit card transactions grew by almost 7 percent per year, credit card frauds grew by more than 16 percent per year.
These losses occur throughout the system, including at point of sale, at ATMs and during online transactions. While EMV chip technology has reduced the frequency of in-store fraud, it does not help in online fraud.
Monopoly
Global credit intelligence is controlled by several credit bureaus, and it is claimed many times that their scoring models are outdated, erroneous and not portable, being country or territory specific. "More than one in five consumers have a" potentially significant error "in their credit file, which makes them more risky than they are, and consumers contact one of the three major credit reporting agencies for information about the problem eight million times a year."
Security
The recent hack in Equifax revealed 140 million + personalities and personal information for hackers and was called the worst security breach in US history.
By 2016, there are more than 15 million victims of identity theft or fraud, while the total amount is stolen by $ 16 billion.
Centralized information
Data collected by a centralized credit bureau. It is a common misconception that this agency automatically exchanges information, which is not true. These bodies are separate companies that provide similar services for a fee.
Portability
Because credit scores are non-transferable, low-risk borrowers may be denied access to credit when they move abroad, forced to restore their credit worthiness from scratch.
Obsolete analysis and incomplete information
When information becomes more centralized, it is monopolistic and incomplete. This leads to a decision without the information available, which greatly increases the associated risk. In addition, credit scores are not updated in real time, and delays are determined by millions of consumers and companies, as their current credit history is not taken into account in the decision-making process.
Kredi Solutions
t As a solution to the above problems, we created Credito Network or Credito only. Decentralized networks based on the Ethereal block chain, combined with intellectual property and interplanetary file systems (IPFS), provide decentralized credit intelligence and credit markets. Credito encourages the work of a thriving and quality credit industry, enabling FIs and digital resource loans to lend to people and institutions with a backward or independent credit system. The ecosystem provides solutions that enable trusted creditors to securely and securely disburse loans to audited borrowers. CreditoDesentralization design principles and valuesDecentralization is not only the basis of protection against unauthorized access, but also of its infinite nature. Continuing to build a decentralized system, we seek to further extend conflict-free development within Credito. We believe that decentralization is an important component of a thriving global ecosystem with long-term sustainability. Modularity for simple and flexible systems We appreciate the philosophy of making small appliances that work well. Simple components can be easily justified and, thus, can be integrated reliably into larger systems. We believe that modularity not only allows the modernization system, but also contributes to decentralization. Secure, transparent and expandable systemsCredito is built for the community. We appreciate the community and will continue to interact with data scientists, field experts, scientists and security experts for peer review. We encourage official testing, audit and proof of safety, all with the goal of creating a platform whose reliability and safety can support future innovation. Election contracts have two main functions: 1. Response to individual credit account requests2. Verify requests for third party transaction calculations. In addition, it also keeps track of loan balances and utilization rates.
Analytical conclusions
For certain analytic nodes, lease contracts control the following indicators:
Total number of queries assigned: number of last requests approved by node, completed and not executed.
Total number of completed queries: total number of past queries performed by node. This can be averaged based on the number of requests assigned to calculate the completion rate.
Average response time: punctuality of the knot response, which is an indicator of the effectiveness of the node. Average response time is calculated based on completed queries.
Site reputation: site reputation based on previous transactions. All nodes check and evaluate each point, if most nodes return the same value, the node becomes reliable. This reputation system helps identify and remove bad sites from the network.
Credit - Online Credit Proof
Loans are the ERC20 tokens that serve as currency, management mechanism and reward system at Credito. Credito will be able to set prices and receive payments for its services in the form of Loans.
Token Distribution
To continue development, Credito will conduct a one-time event to generate tokens ("TGE") and sell sales credits, where 50% of tokens will be available for public sale. The TGE start date will be announced soon, and will allocate a total of $ 1 billion in loans. As follows:
Roadmap
Credito will expand in 6 stages, performing important milestones at every stage:
Stage 1 Completed
Concepts and research.
Credito Registration.
White paper
The proof of the concept is a high-speed transaction system.
Launching a website.
Registration stage 2, verification and partnership
CreDApp interface development
User registration
Automatic ID verification
Working closely with financial institutions
Phase 3 Infrastructure and Intelligence Development
Development of external APIs.
Infrastructure of analytical nodes.
Development of Credito Credit Development.
Creating a credit score.
Modeling of transaction estimation
Stage 4 Development and dissemination of intellectual contracts
Calculations and leases of intellectual contracts.
Smart audit audit.
Integrated smart contract with Credito Analytic Engine and nodal infrastructure.
Runs on the test network.
Try the trial version, give your partner a direct result.
Stage 5 Launch
The main network starts.
Decentralized intelligence controls are available for couples.
External analytic node The operator that connects the network.
Marketing and new partnerships.
The 6th stage protocol of end-to-end loans on major networks
Developing CreDApp and mobile apps
Development and audit of credit agreement Smart Credit
CreDApp brand with Credit Smart Credit credit integration
CreDApp in the test network and the transition to the main network
For more detailed information and join the current Credito project please be on the following link:
Website: https://credito.io
Whitepaper: https://credito.io/pdf/whitepaper.pdf
Announcement: https://bitcointalk.org/index.php?topic=2483679.0
Facebook: https://www.facebook.com/CreditoNetwork
Twitter: https://twitter.com/CreditoNetwork
author:Gajahduduk
Bitcointalk Profile Links:https://bitcointalk.org/index.php?action=profile;u=1807823
ETH:0xcE85485e61cd0FB845b84F4e99Bc291bcA89D640
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