What is Ripio Credit Network (RCN)?
Future of RCN Cryptocurrency and know how to buy RCN

#1: Ripio Credit Network: The Basics

What is Ripio Credit Network?

  1. Ripio Credit Network (RCN) is a global peer-to-peer credit network based on cosigned smart contracts that facilitates connections between lenders and borrowers across the world, on any currency. It enables people across the globe to access credit, and to provide loans. The RCN token is a typical ERC-20 token.
  2. This protocol has the smart contract technology embedded into the Ethereum blockchain which facilitates peer-to-peer lending without the hefty transaction fees that are charged in traditional banking processes.
  3. The RCN token functions at the core of the system. The inherent value of the token is directly correlated to the demand for its use in the network.

RCN Development

  1. Based in Argentina, Latin America, Ripio was launched at the TechCrunch Disrupt in May 2016.
  2. Sebastian Serrano, founder and CEO of the Ripio Credit Network is a technology enthusiast. He along with his team of technology experts, analysts and developers have designed an impressive concept along with the website, whitepaper and its implementation within the last 2 years.
  3. The team comprises of David Garcia (SVP & Board Member), Eugenio Cocimano (Data Scientist), Antonio Ceraso (CTO & Lead Blockchain developer) and Agustin Aguilar (Smart Contracts Developer) among many others.
  4. As per its whitepaper, Ripio started off with a primary objective - to democratize the digital economy in Latin America, by offering digital payment alternatives within everyone's reach in a region where 65% remain unbanked.
  5. What started in 2013 as Latin America’s first Bitcoin payment platform, got rebranded in January 2017 as Ripio.

#2: What are the benefits of RCN token?

Ripio Features

  1. The Ripio ICO token is used to execute the smart contracts on the network by different participants in the Ripio Credit Network. The various types of participants are:
    1. Borrower
    2. Lender
    3. Wallet provider
    4. Scoring agent
    5. Oracle
    6. ID verifier
    7. Cosigner
    8. Credit exchange
  2. The protocol based on blockchain technology, facilitates connections among several agents like wallet providers, ID verifiers, scoring agents, cosigners and credit exchanges.
  3. Each of these nodes play a role to offer the lender better tools to manage his/her capital and reduce the intermediation costs between a lender and borrower. This also provides increased credit access to borrowers thus, making more projects viable.
  4. The RCN network consists of the following agents:
    1. The Borrower makes a requests for a loan or credit from his/her wallet provider.
    2. The Lender invests in the network by lending funds via a Credit Exchange.
    3. The Wallet Provider generates a smart contract to: (i) specify the terms of the loan, (ii) receive funds from the Lenders via Credit Exchanges, and (iii) distribute these funds to Borrowers and other agents, as applicable and as specified by the terms of the smart contract.
    4. The Scoring Agent provides a credit score for each Borrower.
    5. The Oracle sets the price feed of the RCN Token according to the Wallet Provider’s local currency. This is then used to determine the exchange rate between local currency and RCN Tokens at the time of actual borrowing and when subsequent repayments are made.
    6. The ID Verifier verifies the Borrower's identity.
    7. The Cosigner acts as a guarantor for Borrowers. They also may act as an intermediary agent between the Borrower and the local legal system in the event a Borrower defaults.
    8. The Credit Exchange allows the Lender’s offer to extend credit to match with a Borrower’s request for credit via a smart contract generated by the Wallet Provider.

Ripio Credit Network Technology

  1. The smart contract is an integral part of the underlying technology of the Ripio Credit Network[1]. It is generated by the Wallet Provider and executed when it is matched by the Credit Exchange. This smart contract contains information like the relevant credit terms, borrower obligations, events of default along with the signatures or verifications from all other agents. RCN tokens facilitate interaction with the smart contracts among different agents within the RCN.
  2. Every credit flow starts when the Borrower makes a credit request. The Borrower performs the request from its Wallet Provider, which has already integrated into the RCN protocol. Post this, the Borrower waits for an approval before any further action can be performed.
  3. The Wallet Provider is any entity that offers credit services to its users via the RCN protocol. It adds information about the Borrower and its credit request, generates a smart contract which is then broadcasted to the network. It is mandatory that borrowers only connect to the Ripio Credit Network through a Wallet Provider.
  4. To use any software or services provided by Ripio to the RCN, a Wallet Provider should warrant its compliance with all applicable regulatory requirements defined for the jurisdictions in which the Wallet Provider offers its services.
  5. The Oracle is another node that provides the service of informing the exchange rate between any given currency used by a Wallet Provider, Credit Exchange, Borrower, or Lender, and RCN Tokens, at any time of consultation. The Oracle plays the most of its part when a loan is originated, and when installments are determined during the credit life time.
  6. An ID Verifier looks after the identification and validation of each Borrower's identity. This step prevents most fraud or scam attempts and provide the Borrower’s identification information in case of a default.
  7. A Scoring Agent is responsible for analyzing available information to statistically evaluate the probabilities of a scam or a malpractice linked to a certain Borrower ID. It could also gather the transactional information from the RCN blockchain to build a credit ledger. He could then use it to track a Borrower’s instances of default or non-default over time.
  8. The Cosigner gathers and assesses information provided by the ID Verifier and the Scoring Agent to establish the terms under which it will operate on a loan. The default terms, under which the cosigner takes responsibility for the Borrower’s debt, will be specified in the same smart contract. The Cosigner terms will also be added to the smart contract, along with the terms provided by the ID Verifier and Scoring Agent. The smart contract is then generated and broadcasted by the Wallet Provider. In case of a default, the Cosigner acts on behalf of the Borrower by taking responsibility for the debt amount as specified in the smart contract. The smart contract also states if the Cosigner has to make a unique payment to the Lender or if it will continue to bear the expense of the periodic installments under the original conditions.
  9. The cosigned smart contract is then listed by a Credit Exchange, along with the information gathered up to this point. The information includes the amount of the borrowed amount, the currency, Borrowers’ ID, the Borrowers’ credit score, co-signature insurance options, and any other agent or Borrower input permitted.
  10. A lender that holds RCN Tokens can create a trading order, through a credit exchange. When these orders match the conditions on the cosigned smart contract, the loan can be executed successfully. The smart contract will execute accordingly and the RCN Tokens involved will thus, be transferred to the corresponding Wallet Provider, who in turn, grants credit to the Borrower, after converting the RCN tokens into local currency.

#3: How to Buy & store RCN tokens?

Where can one buy RCN tokens?

  1. RCN tokens do not support transactions in exchange for fiat currency yet. However, a user can buy them in exchange of other cryptocoins like Bitcoin and Ethereum. It is available for trades on major exchanges such as Binance and CoinExchange.
  2. CoinSwitch, the largest cryptocurrency exchange platform, supports over 300 cryptocurrencies. One can trade or exchange RCN tokens at competitive prices through CoinSwitch using simple and fast steps. All a user needs to do is access the CoinSwitch website and select the best exchange as per the exchange rates and user interface provided to him/her.

How to store RCN token

  1. Most cryptocoin wallets like Coinbase, MyEtherWallet and Blockchain provide support to users for storing RCN tokens. This is because RCN is ERC-20 compliant.
  2. Ledger Wallet and Trezor are some hardware wallets that support RCN tokens.

#4: What is the future of RCN tokens?

Also Read: Complete Analysis of Ripio Credit Network | Live Ripio Credit Network (RCN) Price Charts And Predictions

Historical Data for RCN tokens (RCN): April 2018 to July 2018







Market Cap

July 2018







June 2018







May 2018







April 2018







Historical trends

  1. The price of RCN token has seen a steady decrease from $0.13 in April 2018 to $0.04 in July 2018. While there have been fluctuations in this trend, the volume has also dropped from 7 million in April 2018 to approximately 1.5 million in July 2018.
  2. The price of an RCN token lies at around $0.04 as of July 2018.

Future Trends

  1. Market experts predict that Ripio Credit network will witness a decline in the short term i.e. until 2019.
  2. However, Ripio Credit Network’s long term price prediction suggests that the price of the RCN token will increase to 922.669985% until 20233]. This implies that in 2023, the RCN token could be priced at $0.447097 .

#5: How is RCN different from other cryptos?

  1. Ripio Credit Network is a protocol that uses smart contracts and blockchain technology together to build a framework with enhanced transparency and reliability in credit and lending.
  2. It is a powerful credit network and intends to become a go-to global solution for lending and borrowing. While RCN plans to evolve as a one-stop solution for lending, loaning and P2P borrowing activities, the developers behind the network and constantly trying to improve the protocols’ infrastructure and technology.
  3. Since RCN carries a vision of eliminating the inefficiencies of the current financial system, it is bound to grow and become popular with time. The vision, design and the implementation of the concept will put RCN as a strong financial influencer on the world map.
  4. The Ripio Credit Network boasts of a simple network design and value proposition[2] by codifying an age-old credit management technique, i.e. guarantor on loans.
  5. Ripio’s unique and importantintellectual property for the RCN protocol lies in the concept of the Cosigner. Thus, in the near future, RCN has an early mover advantage and existing customer base in Latin America and across the world. This may allow them to build network effects that shield RCN from future competitive threats.
  6. Moreover, RCN’s network incentives are simple to understand. With the evolution of the market, incentive adjustments should be to continually attract and retain agents.

#6: Should you invest in RCN tokens?

  1. The decision to invest in the RCN token is subjective and solely depends on the time a user wants to play in the market.
  2. The Ripio Credit Network is expected to see a further decline in its performance till 2019, before it is expected to rise.
  3. It can serve as a good long-term investment option if one wants to invest in the coin for the next 5 years. However, for short-term investors, RCN is not a lucrative option.
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