Hello dears! Today I will make a small review on the Libra Credit project, the ICO of which ended in a few days and successfully raised $ 28 million. Go!

What problems does Libra Credit solve?

Libra Credit team plans to make credit available to a larger number of the population of our planet. They want to introduce decentralization mechanisms and blockchain technology in the sphere of lending, this will help us to get a loan anywhere in the world when we need it. The introduction of these technologies will help to reduce the costs associated with obtaining loans and thereby reduce the interest rates of creditors. I think that's a great idea. According to estimates by Business Wire, the growth of credit market up to 2021, will amount to 14% . Also, the project will solve the problem of crypto investors.

Cryptocurrencies in the Libra Credit business model can be used as an asset - used as collateral. For example, John wants to take a 30-day loan secured by XXX tokens in US dollars. John, as a community member and LBA token holder, applies through the app or online service for a loan. Libra Credit, in turn, analyzes the data of John and his crypto assets, and creates individual credit conditions for John, which he is immediately notified by SMS or through the application. If John wants to receive dollars on a digital purse, all procedure will take 5 minutes. If the Bank account-1 working day.As for the risk management mechanism: If the XXX Token used as collateral drops in price by 10%, John's CTL ratio drops to 112.5%, which is less than 125% of the required Libra Credit, smart contract triggers and notifies John: either need to increase the number of XXX tokens to secure the loan, or make the loan payment before CTL recovery to 125%. If John does not comply with the terms – there is an automatic sale of his tokens XXX to pay for the loan and restore the CTL to 125%. It's pretty simple, clear and fast.

Team of the Libra Credit.

Lu Hua - Co-founder and CEO of Libra Credit
Payments, Financing & Risk Management Expert
He went a long way in 5 years From the Manager of Merchant Services to the Head of the main payments Department of China in the Largest company Pay Pal. Then from 2011 to 2017, he was the CEO of the company moKredit which is based in China, and is engaged in micro-credit in the field of online games. The "Play First, Pay later" app allows players to first receive in-game currency to play games and then pay within 7 days. The application has become very popular and the company has collected more than 30 million users. Already at that time, Lu Hua and the moKredit team used AI-based credit computing and risk management technology.

Dan Schatt is Co-founder and COO of Libra Credit
Fintech and Payments Expert and payments.
From 1998 to 2001, he worked as a senior investment banking lawyer at CITI. Also after that, he worked for 6 years as chief Manager of financial innovations at PayPal, 2 years Commercial Director of Stockpile - a leading fintech company invested by Sequoia Capital, Fidelity Investments' Eight Roads Ventures, Arbor and Mayfield Funds & Ashton Kutcher.

Howard Wu - Chief Scientist
Blockchain and Cryptography expert
In 2016, he was a software engineer at Google. In 2017, he became one of the founders of the company Decrypt Capital, which is based in Berkeley, California and is engaged in investments in projects dealing with privacy protocols and decentralized applications.

Developing product Libra Credit watch and help you correct flaws such Advisors as:
Shuoji Zhou (Founding partner of FBG Capital, Early investor of a broad spectrum of blockchain companies; Has a rich experience of investing in crypto assets)
Kenneth Oh (Legal and Regulatory Expert; 20 years of legal advisory experience in venture capital, private equity, IPOs / Token Sales and post-IPO / Token Sale funding, as well as M & A)
Shoucheng Zhang (CEO of Danhua Capital; Stanford University tenured professor of Physics, Electrical Engineering and Applied Physics)
Scott Thompson (CEO of Tuitioin.io, CEO of Yahoo in 2012, President at PayPal in 2005-2012 )

Libra Credit team is not going to prepare the product for a long time and in 2018 (according to the roadmap) they are going to present to the public a web version of their platform , which will be launched for crypto-to-cryto/fiat lending ; after that, according to the plan, mobile applications will appear.

An interesting idea that can solve several pains in the field of lending, a very strong team of managers , Directors and developers, as well as the growing demand for lending services did not take long to wait – the project has already invested such major players as FBG Capital, Circle, Alphabet, Bamboo Fund, etc.

So friends, I also recommend you to follow Libra Credit, perhaps the investment in this project will help you make good money.
Thank you for your attention! This is my first review, so I would be grateful if you leave your feedback on it below!

Links to Libra Credit:

Official Site : https://www.libracredit.io
Twitter (11.9 K Followers) : https://twitter.com/LibraCredit
Linkedin : https://www.linkedin.com/company/libracredit/
Telegram ( 99.5 K Followers) : https://t.me/libraofficial
Whitepapper Libra Credit : https://www.libracredit.io/page/Libra%20Credit%20Whitepaper.pdf
GitHub : https://github.com/libracredit/LibraTokenVault
ICO Drops : https://icodrops.com/libra-credit/