About Libra Credit
Libra Credit is a decentralized global loan network that helps users apply for credit anywhere, anytime.
Libra Credit was founded by former PayPal technology and financial experts. As a leader in the loan industry, Libra Credit focuses on blockchain technology. With a set of smart contracts for decentralized loans, Libra Credit allows borrowers to have two forms of loan denominations — a stable cryptocurrency or legal goods.
By combining existing global loan networks, diversified entrepreneurial leadership teams and the power of blockchain technology, Libra Credit aims to revolutionize the lending industry.
Libra Credit customers only need to enter the type and quantity of the encrypted digital currency they hold, and they can immediately obtain a loan . Libra Credit will automatically review the customer’s identity information, evaluate the value of the encrypted digital currency, convert it into legal tender, and calculate the maximum loan available for the customer. The whole process takes about 10–20 minutes.
Not just a loan service, Libra Credit also plans to launch a credit card service that can purchase items without using the encrypted digital currency held by them .
Libra Credit will perform ICO in May, issuing its own ERC20 based encrypted digital currency.
LBA tokens are widely used in Libra Credit services. Holders of LBA tokens can become members of Libra Credit and use LBA tokens in mortgage lending and credit card services.
For members using mortgage lending services, LBA tokens can be used to pay interest. For members using credit card services, LBA tokens can be used as a payment method. In this case, customer’s consumption information, etc. will be stored in the blockchain, and Libra Credit will use this information as a basis to assess the customer’s credit rating. The more customers spend, the more LBA tokens will be obtained.
Project: The technical basis of Libra Credit includes the following four main components: A) Libra Lending Platform; B) Partnership Network Access Integration; C) AI Credit Evaluation Engine; D) Smart Contract Suite Built on Ethereum Blockchain . Libra Credit’s credit can quickly and securely manage the borrower’s KYC authentication process through a network of platform authentication partners. Collaborative credit networks generate large amounts of credit data every day, and interested parties (such as suppliers, regulators, and financial institutions) can use Libra’s anonymous data for data analysis, credit scoring, and user behavior monitoring. At the same time, Libra will be able to access our partner’s credit system so that Libra can continuously improve and enhance my risk control process. Libra’s network of partners can access platforms and data through open APIs, which will provide income for Libra’s community members. As a whole, the business model built is reasonable and rigorous, and it can form a closed-loop business ecosystem. Both investors and consultants have abundant resources.
Team: CEO Lu Hua, CEO of PayPal China, head of PayPal’s US global banking platform; chief scientist: Howard Wu, managing partner of Berkeley Blockchain Dekrypt Capital Advisor; consulting, FBG Capital Zhou Shuoji and Danhua Capital CEO Zhang Shouyi Professors are listed; Investors: Danhua Capital, FBG Capital, and GBIC are listed.
Progress: The official statement is that there are more advances than the roadmap. The current version of the brower alpha of Libra Credit lending has been completed and the public entrance will be released in the near future.
Community Governance: Selling 40% of Token, financing $26.4 million, and calculating the overall valuation based on the crowdfunding price of approximately $66 million. The valuation is more reasonable.
Community and social media
Twitter: https://twitter.com/LibraCredit
Telegram: https://t.me/libraofficial
Medium: https://medium.com/libracredit
Reddit: https://www.reddit.com/r/Libra_Credit/
Official website: https://libracredit.io/