Creditcoin intends to solve the problem of unbanked people in emerging markets not having access to credit. People who do not have access to the banking system must borrow through non-banking institutions. Non-bank credit records, on the other hand, are not accepted by banks because the data is untrustworthy. The idea aims to address the issue by objectively recording credit transaction history on a public blockchain.
Creditcoin can also allow the trust and market information required for efficient lending markets by incorporating transparency into its ecosystem and bridging the gap between cryptocurrencies and the real-world lending sector.
Creditcoin's mainnet token, CTC, is used to pay transaction fees and mining incentives. It also enables transactions between lenders and borrowers, as well as transaction recording on the Creditcoin blockchain.
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