CREDITO -The Future of Credit Intelligence

About Credito

Credito is a decentralized credit intelligence network providing credit scores, transaction scores and lending marketplace powered by Ethereum blockchain, Smart Contracts and IPFS, bringing enhanced transparency and reliability.
Credito brings Financial Inclusion to the “Credit Invisibles” by providing accurate and reliable credit scores. A relatively high proportion of young people were credit invisible or unscored. That’s not surprising, since they haven’t had much time to build a credit history. For some, however, not building credit as a young adult could be setting the stage for a lifetime of credit invisibility. People who don’t have a credit score or credit history may find it more difficult to rent an apartment, buy a car, purchase a home, and, of course, get a credit card. In short, it shuts them out of many common financial transactions.
Credito is building a Credit Intelligence Network for the credit industry to prevent Credit Risk by identifying fraudulent transactions as they happen, allowing the industry to take well informed decisions. Although financial institutions are normally known as one of the most strictly regulated sectors, they are still a target for fraudsters. The consequences of fraud are not insignificant, resulting in financial distress for both banks and customers. While the financial institutions are active in the quest to identify fraud and reduce costs of fraud, they still lack a true global intelligence of all known frauds and compromises.
Credito is introducing a decentralized collateralized lending marketplace and enables connections between lenders and borrowers located anywhere in the world. This removes physical constraints and reduces the traditional lending costs and management fees, thus creating a better credit marketplace than anything available today.

Credito Design Principles and Values;

Decentralization, Decentralization is not only the foundation of the tamperproof properties of blockchains, but the basis of their permissionless nature. By continuing to build decentralized systems, we aim to further enable permissionless development within Credito. We believe that decentralization is a crucial component for a globally thriving ecosystem with long-term sustainability.

Modularity for simple and flexible system design.We appreciate the philosophy of building small tools which do one thing well. Simple components can be easily reasoned about and thus securely combined into larger systems. We believe that modularity not only enables upgradable systems, but facilitates decentralization.

Secure, transparent and extensible systems. Credito is built for the community. We value the community and will engage continually with data scientists, domain experts, academics, and security experts for peer review. We encourage testing, audits, and formal proofs of security, all with the aim of creating a platform whose robustness and security can support future innovations.

With these principles in mind, we look forward to extending the reach and impact of reliable
analytics, secure and transparent lending as a cornerstone of the Credito.

Credits — The Credito Network Token

Credits are ERC20 tokens which serve as the currency, governance mechanism and rewarding system with in Credito. Credito will be able to set prices and receive payment for their services in the form of Credits.

Token distribution

In order to undertake further development, Credito will conduct a one-off Token Generation Event (“TGE”) and crowd sale of Credits, where 50 % of the Tokens will be made available for public sale. The start date of the TGE will be announced soon, and it will allocate a total Credits supply of 1 billion as follows:

Employee allocation will have a vesting period of 12 months, 25% vesting each quarter, with a 6 month cliff. Allocation will be proportional to the tenure of each employee by the date of token sale.
Credito Foundation allocation will have a vesting period of 12 months.