About Cred
Libra Credit is a decentralized lending ecosystem that facilitates open access to credit anywhere and anytime based on the Ethereum blockchain. Libra Credit is a global initiative with a mission to provide financial inclusion and lower the cost of financial services. Powered by its proprietary big data, AI-based credit assessment technology and existing global partnership networks, Libra Credit has the expertise and capabilities to realize its mission. Libra Credit aims to offer a seamless digital lending process that can be completed in 5 steps: application, verification and credit assessment, confirmation, collateral deposit, and disbursement. The Libra Credit platform will focus on a dual-credit risk scoring mechanism that considers the creditworthiness of the pledged collateral as well as the credit information of the borrower. Borrowers will be able to pledge any crypto-assets as collateral and receive loans in their desired asset. Using smart contracts and a proprietary collateral valuation and liquidation system, Libra Credit will lock in agreed terms between borrows, lenders, custodians, guarantors and liquidators. Libra Credit was founded in 2017 and operates out of San Francisco, USA. They are backed by investors such as FBG Capital, GBIC, DHVC, Dekypt Capital, Crypto Parency, and others. Lu Hua, Co-Founder & CEO has experience in the payments, financing, and risk management industries. He was previously the CEO of moKredit, one of China’s top digital credit servicing companies. Lu was also the Head of Core Payments for PayPal China and the Head of Global Banking Platform for PayPal US. Dan Schatt, Co-Founder & COO has previously worked as the Chief Commercial Officer at Stockpile Inc., a leading fintech company, and as General Manager of Financial Innovations at PayPal. Howard Wu, Chief Scientist, he is a blockchain and cryptography expert who is a Founding Partner of Dekrypt Capital, Advisor of Blockchain at Berkeley, and Software Engineer at Google. He advises the project in a technical capacity and has received a Master’s degree in Electrical Engineering and Computer Sciences from UC Berkeley. There are already quite a few blockchain lending projects, so competition is stiff. Libra Credit’s development progress is rather early compared to its competitors. The crypto-to-crypto lending part seems to be well thought out. However, not so much with the crypto-to-fiat part. According to the roadmap, crypto-to-fiat lending is scheduled to launch in 2018 Q3. With details lacking in the weekly blog update about crypto-to-fiat lending, it is difficult to gauge whether the proposed timeline is reasonable.
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Tags
Network & Addresses
Network | Address | |
|---|---|---|
Ethereum | 0xfe5F141Bf94fE84bC28deD0AB966c16B17490657 |
Price history
Time | Price | Change |
|---|---|---|
Today | CA$0.000084 | NaN% |
1 Day | CA$0.000084 | 0.00% |
1 Week | CA$0.000084 | 0.00% |
1 Month | CA$0.000084 | 0.00% |
1 Year | CA$0.000339 | 0.00% |
Coinbase insights
Recent trends
The latest LBA price is CA$0.000084.
FAQ
Libra Credit is an open access, decentralized credit ecosystem that functions on the Ethereumblockchain. This ecosystem has been developed by the Libra Foundation with the aim to create a simple, real-time, and hassle-free solution that would facilitate credit access to people worldwide. According to the whitepaper of the asset, in order to support this ecosystem, Libra Foundation features certain constructive utilities, which include:
These utilities not only simplify and speed up the process of credit access and approval for people on the Libra platform but also resolve the challenges that exist in the credit industry. Further, to facilitate a smooth operating structure, transactions, and credit processes on the platform, Libra Credit launched its cryptocurrency, the LBA token.
The LBA is an all-purpose token of the Libra Credit ecosystem hosted on the Ethereum blockchain. According to the whitepaper of the asset, the token fulfills many utilities on the platform, which include:
Besides these utilities, the token is also for further developing, improving, promoting, and marketing of the platform. These overall utilities of the token ensure a healthy operational structure within the Libra Credit ecosystem.
The idea of Libra Credit was first developed by Lu Hua, co-founder and CEO, and Dan Shatt, co-founder and president of the platform, in the fourth quarter of 2017. The whitepaper of the asset was released in May 2018. Further, the platform launched its token in the second quarter of 2018, with the total supply of the token as 1,000,000,000 LBA.
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Social stats
Popularity in posts
#5258
Contributors
8
Posts
8
% About Cred
0%
Hold times
0 days
X (Twitter)
87.5% bullish
Sentiment
0.0 ★
Highlights
8 unique individuals are talking about Cred and it is ranked #5,258 in most mentions and activity from collected posts. In the last 24 hours, across all social media platforms, Cred has an average sentiment score of 0 out of 5. Finally, Cred is becoming less newsworthy, with 0 news articles published about Cred.
On Twitter, people are mostly bullish about Cred. There were 100% of tweets with bullish sentiment compared to 14.29% of tweets with a bearish sentiment about Cred. 0% of tweets were neutral about Cred. These sentiments are based on 5 tweets.
On Reddit, Cred was mentioned in 3 Reddit posts and there were 1 comments about Cred. On average, there were less upvotes compared to downvotes on Reddit posts and more upvotes compared to downvotes on Reddit comments.
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