Cred

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.