CREDITO - Decentralized Credit Analysis Network

Hello everyone, in this new post I will introduce the Credito project. and for more details, let's just follow the following discussion:

About CREDITO

Credito is a decentralized credit analysis network that provides credit values, transaction costs and credit markets supported by Ethereal, intellectual contracts and IPFS, increasing transparency and reliability. 
The introduction of a decentralized credit market and providing relationships between lenders and borrowers living anywhere in the world. This eliminates physical limitations and reduces traditional borrowing costs and management. Visit  https://credito.io/

CREDITO TOKEN CreDApp consulted with CreditO

When orders are made to accept the Creator's risk profile and offer a better interest rate on the network. If the Creator wants a loan request to be fulfilled quickly, he can place an order with the interest rate previously deducted.

• Token Network Credit 
  Credits are ERC20 tokens that function as currencies, management mechanisms and reward systems 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 must pay royalties for loan use, 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 the exchange rate contract at each particular payment moment. 
  Borrower and lender fees will vary depending on the level of transaction, we estimate the value to be 0.5%. The three parties can integrate Credito Analytic Engine or access it from outside and process it.

Credito  creates a credit network for the credit industry to prevent credit risk by identifying fraudulent transactions when they arise, so that the industry can make the right decisions. Although financial institutions are usually known as one of the most tightly regulated sectors, this institution remains a target of fraudsters. The consequences of fraud are insignificant, which causes financial disaster for banks and customers. Although financial institutions are actively involved in detecting fraud and reducing the cost of fraud, they still lack the real global intelligence of all known scammers and compromises.

According to Nilson's 2016 report, losses from credit card fraud in 2015 amounted to 21.8 billion dollars. The US, which is 162% more than the 2010 figure, amounting to 8 billion dollars. United States of America. Losses for 2016 have been estimated at more than 24 billion dollars, and it is estimated that by 2020 the loss will reach $ 31 billion.

The number of transactions with credit and debit cards in 2015 was $ 31 trillion. While the total value of credit card transactions grew by almost 7 percent per year, credit card fraud grew by more than 16 percent per year.

This loss occurs throughout the system, including at the point of sale, at the ATM and during online transactions. While EMV chip technology has reduced the frequency of fraud in-store, it does not help in online fraud.

• Monopoly The intelligence of global credit is controlled by several credit bureaus, and it is claimed many times that their valuation models are outdated, wrong and not portable, because they are specific to the country or region. "More than one in five consumers have" potentially significant errors "in their credit files, which makes them more risky than they are, and consumers contact one of the three major credit reporting agencies for information about problems eight million times a year."
• 
  Hacking Security recently in Equifax revealed 140 million + personalities and personal information for hackers and was called the worst security breach in US history. 
  In 2016, there were more than 15 million victims of identity theft or fraud, while the total amount was stolen for $ 16 billion.
• Centralized informationData collected by a central credit bureau. It is a common misconception that this bureau automatically exchanges information, which is not true. These bodies are separate companies that provide services similar to certain costs.
• Portability
  Because credit value is not transferable, low risk borrowers can be denied access to credit when they move abroad, forced to return their creditworthiness from zero.
• Analysis of obsolescence and incomplete information When information becomes more centralized, it is monopolistic and incomplete. This causes decisions without information available, which greatly increases the associated risks. In addition, credit values ​​are not updated in real time, and delays are determined by millions of consumers and companies, because their credit history is not currently taken into account in the decision-making process.

Credit Solutions

As a solution to the above problems, we created Credito Network or only Credito. Decentralized networks based on Ethereal block chains, combined with intellectual contracts and interplanetary file systems (IPFS), provide decentralized credit and credit markets. Credito encourages the development of a thriving and quality credit industry, enabling FIs and digital resource loans to provide credit to people and institutions with a backward or independent credit system. The ecosystem provides solutions that enable trusted creditors to securely and securely issue loans to audited borrowers.

Credito's design principles and values.

Decentralization.

Decentralization is not only the basis for protection against unauthorized access, but also the basis of its unlimited nature. Continuing to develop a decentralized system, we seek further expansion of conflict-free development within Credito. We believe that decentralization is an important component of a global ecosystem that develops with long-term sustainability.

Modularity for a simple and flexible system.

We appreciate the philosophy of making small tools that work well. Simple components can be easily justified and, thus, can be reliably integrated into a larger system. We believe that modularity not only allows the modernization system, but also contributes to decentralization.

A safe, transparent and expandable system.

Credito was  built for the community. We value the community and will continue to interact with data scientists, field experts, scientists and security experts for peer review. We encourage official testing, auditing and proof of safety, all with the aim of creating a platform where reliability and security can support future innovation.

The selection contract has two main functions:

1. Response to individual credit account requests

2. Verify requests for calculation of third party transactions. In addition, it also tracks loan balances and utilization rates.

analytical node

For certain analytical nodes, leasing contracts control the following indicators:

• Total number of queries assigned: number of recent requests approved by the node, completed and not executed.
• The total number of queries completed: the total number of past queries performed by the node. This can be averaged based on the number of requests assigned to calculate the level of completion.
• Average response time: node response time accuracy, which is an indicator of node effectiveness. The average response time is calculated based on the completed query.
• Reputable  sites:  the reputation of  the site  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 - Proof of Online Credit

Loans are ERC20 tokens that function as currencies, management mechanisms and reward systems 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 sales. The TGE start date will be announced immediately, and will allocate a total of $ 1 billion in loans. As follows:

• Distribution of employees will have a transition period of 12 months, 25% - every quarter, with 6-month old rocks. Allocation will be proportional to the ownership of each employee on the date of sale of the token.
• With the distribution of Dana Credito, the transition period will be 12 months.

Use of Funds Intended

Roadmap

Credito will develop in 6 stages, making important milestones at each stage.

Stage1 Finish

• Concept and research.
• Credito Registration.
• White paper
• Proof of the concept is a high-speed transaction calculation system.
• Launch the website.

Second stage registration, verification and partnership

• Development of the CreDApp interface
• User registration
• Automatic ID verification
• Cooperate with financial institutions

Stage 3 Infrastructure and Intelligence Development

• External API development.
• Analytical node infrastructure.
• Development of Credito's credit development.
• Creating credit value.
• Transaction estimation modeling

Stage 4 Development and distribution of intellectual contracts

• Calculation and leasing of intellectual contracts.
• Smart audit audit.
• Integration of smart contracts with Credito Analytic Engine and nodal infrastructure.
• Runs on the test network.
• Try the trial version, give results directly to partners.

Stage 5 launch

• The main network starts.
• Decentralized intelligence control is available for couples.
• External analytical node Operator that connects the network.
• New marketing and partnerships.

The 6th phase protocol of end-to-end loans on the main network

• Develop CreDApp and mobile applications
• Development and audit of Credito Smart credit agreements
• CreDApp brand with integrated credit credit smart credit
• CreDApp in the test network and transition to the main network

For more detailed information and joining Credito's project at this time, please have the following link:

WEBSITE | WHITEPAPER | FACEBOOK | TWITTER | BLOG

Bitcoinralk Username : Pelo12

Bitcointalk profile :

https://bitcointalk.org/index.php?action=profile;u=1933617;sa=summary