Hi, I found a coin that not many people talk about here so I would like to get some thoughts. It's getting more exposure on 4chan but there has been maybe 2 threads about it here. Since the price increased of 30% today I felt that I should give some more information. This is a copy and paste of some information that is circulated around 4chan about this coin.
Market cap= 67 Million. What problem it solves: A global peer-to-peer credit network based on co-signed smart contracts. With RCN you aren't limited to just borrowing crypto (btc,eth etc) you can borrow any currency in the world. (USD,CAD,YEN) The RCN team has over 15 developers and genius advisors such as Sergio Lerner the cofounder of rootstock. Key investors= Bilionaire Tim Draper; The guy that found skype in 2005 and sold his share for 1 billion USD recently, the guy that bought 30,000 bitcoin from the us goverment during the silk road closure. Bilioniare Lu Guanqiu ceo of the company Fenbushi Capital;Once called “China’s Elon Musk” for buying out an American hybrid-electric car company, Lu Guanqiu is the founder of Wanxiang Group, one of China’s largest automotive parts manufacturers. ^ These guys do not fuck around google there history. This coin was added on bittrex A WEEK AFTER being released. Name one coin recently that was added to bitterx instnatly? This coin is serious... do you think these billionaires would invest in this coin if it wasn't going to literally 50x? Follow the smart money /biz/ It literally is around ICO price.
The ICO pre-sale had NO BONUSES. Do some googling please. But even if there were, what does Tim Draper have to gain from making 10% on 10 Million? When you're in the billions you're only concerned with making 100s of millions. Thats why they invest in ICO and HOLD. Maybe he'll dump some when its 3-400M market cap, probably not till its nearing a billion (est. Q1 2019) or more. In developing countries such as in South America, it has been reported that up to 65% of the population are Unbanked and may have no access to Credit Facilities through traditional banking. Ripio intends to solve these problem by providing these users with an alternative Credit Facility. The Ripio Credit Network works to connect borrowers, lenders, and other network agents all over the world, allowing each one of them to manage the credit in their local currencies, as long as they have Internet access.
In developing countries such as in South America, it has been reported that up to 65% of the population are Unbanked and may have no access to Credit Facilities through traditional banking. Ripio intends to solve these problem by providing these users with an alternative Credit Facility. The Ripio Credit Network works to connect borrowers, lenders, and other network agents all over the world, allowing each one of them to manage the credit in their local currencies, as long as they have Internet access.
How does it work?
The Network will consist of a Borrower, Lender, Wallet Provider, and Credit Exchange. All of which will be connected through a Smart Contract. The flow of money is as below:
Borrower <- Wallet Provider <- Smart Contract <- Credit Exchange <- Lender
Let’s say Juan in Argentina wants to borrow $5,000. Lin, who is halfway around the world in Shanghai is willing to loan him the $5,000 + 10% Interest.
Once the terms are agreed, Lin sends the money through the Credit Exchange in Fiat. The Credit Exchange uses that Fiat to purchase RCN Tokens to send it over to Juan’s Wallet Provider through a Smart Contract. Juan receives the RCN Tokens and converts it back to Fiat.
When it is time to repay the loan, Juan returns $5,500 through the same Channel, by using RCN Tokens as a medium. The borrower receives Fiat after converting the RCN Tokens.
All loans work on a Fiat basis between borrower and lender, by simply using RCN Tokens as a medium of exchange.
What does this mean and how can we benefit from it? There are 2 main ways to benefit from the Ripio Credit Network ecosystem:
If you are a lender, you can lend in Fiat and earn interest in Fiat.
If you are a RCN token holder, you will become a liquidity provider to facilitate the P2P loans, and earn through the increase in value of RCN Tokens.
What value does the RCN token holders have and why should the price increase?
All RCN token holders will become liquidity providers. For any loan to go through, RCN tokens will need to be purchased from the Market to facilitate the transfers. The higher the number of transactions, the higher the demand for RCN, and thus the higher the Price of RCN tokens.
• The ONLY source of RCN Tokens at the moment are held by the public, as the Company’s tokens are locked for 1 year.
• Ripio has an actual working product with 100k users, all 100k of whom will be migrated to the RCN Exchange next week! - http://rcn.exchange/
• Ripio themselves will be the first big lender, which means that they will go to the market and acquire the RCN tokens, generating demand.
• As new credit exchanges and lenders join to the network there will be even more demand for the RCN token.
• Top A-grade institutional investor such as Pantera Capital, Fenbushi (Vitalik Buterin's Fund), Tim Draper, Digital Currency Group, Medici Ventures, Huiyin Blockchain Ventures has invested in the company
What exchanges have listed RCN?
• Bittrex (despite extremely strict with listing recently) • Binance • Huobi Pro • More to follow..
My personal opinion:
Being from a developing country myself, it is easy to underestimate the number of Unbanked people who have no access to Credit Facilities. Like it or not, Credit is an essential part of expansion and development in an Economy.
As for the Company, what makes Ripio stand out is the creation of a true Utility for their token, whereby all parties in the ecosystem are incentivized to use it and will benefit from it’s increase in Price.
As Vitalik Buterin would say, the Crypto-Economics of their Model is spot on.
This is my personal opinion. As always, do your own research and feel free to leave any comments or questions.
• RCN Tokens are used as “gas” to facilitate P2P loans
• RCN Tokens have to be bought from the open market
• Ripio themselves will act as lenders and purchase RCN Tokens from market
• RCN Exchange launching next week. 100k users migrating
• The higher the number of transactions, the higher the demand, the higher the price of RCN Tokens For an in-depth review, you can read their whitepaper, which is available at https://ripiocredit.network/
The market for alternate finance gained popularity in recent years. A finding by Transparency Market Research suggests that “the opportunity in the global peer-to-peer market will be worth $897.85 billion by the year 2024, from $26.16 billion in 2015. The market is anticipated to rise at a whopping CAGR [Compound Annual Growth Rate] of 48.2% between 2016 and 2024.”
While Research and Markets estimates the global P2P lending market to grow at a CAGR of 53.06% during the five year period between 2016 and 2020. Morgan Stanley in a report in 2015 predicted that such marketplace lending would command $150 billion to $490 billion globally by 2020. http://www.nasdaq.com/article/the-rise-of-peertopeer-p2p-lending-cm685513
Ripio's value is not based on a coin gimmick, the tech behind RCN is nothing special. Ripio's value comes from the fact that it has proven people going into an industry that is sure to rise and they will start making money in the near future, not 2-3 years from now, but NEXT year. By april their roadmap will be complete.
So, what do you guys think?
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