Cred (LBA Token) is a financial ecosystem based on blockchain and cryptographic digital currencies, assisting global users of digital currencies to enjoy various financial services efficiently anytime and anywhere.

Vision of the Project

The team has already established an industry-leading innovative consumer lending company in China. Collaborating with executives from Paypal and Stockpile Inc., they have brought a substantial amount of consumer finance business to the banking industry. Coupled with their strong consulting service, the team is fully capable of securing a foothold in the Asian cryptocurrency lending market. 

The team already has a test version of their product nearing release. By July 2018, the platform will be ready for clients backed by crypto assets. 

Leveraging his experience and network at Paypal, the CEO has established significant partnerships with major banks in China, Japan, South Korea, and Singapore. These banks will provide liquidity for the platforms loans and allow Libra Credit to issue credit cards to borrowers. These partnerships demonstrate that CEO Lu Hua can utilize his influence at Paypal to quickly bring the product to market.

Project Highlights

The creditworthiness of Libra Credit can be rapidly and securely managed through the borrowers Know Your Customer (KYC) verification process via the platforms identity verification partner network. The collaborative credit network generates a vast amount of credit data daily, which interested parties such as suppliers, regulators, and financial institutions can use for data analysis, credit scoring, user behavior monitoring, etc., using Libras anonymized data. Meanwhile, Libra will be able to access our partners credit systems, enabling Libra to continuously improve and enhance our risk control processes. Libras partner network can access the platform and data through open APIs, providing revenue for Libra community members. Overall, the constructed business model is reasonable and rigorous, forming a closed-loop commercial ecosystem, with investors and advisors having abundant resources.

Application Scenarios

Membership
Including platform usage fees, allowing borrowers to submit loan applications. 

Transactions
Libra Credit transaction fees. For example, a service fee is charged for each successful transaction. 

Rewards
Token rewards granted to stakeholders under the following circumstances: 

• Service - developers who contribute to the development of services; 
• Referral – introducing other lenders to Libra Credit successfully 

Management
LBA token holders consist of the Libra community managing the network: platform development planning - voting on specific projects/initiatives to promote platform technology development.

Relevant Links:
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