SINGAPORE, May 28, 2018 /PRNewswire/ -- On May 28th, 2018, We Credit Tag Limited, a BlockChain technique company targeting for new credit loan solutions, launched its token, CTC, at OEX, a well-known cryptocurrency exchange. This listing is one of the most important steps of the company for its global strategy, and it is also a remarkable milestone for the credit loan businesses to be reformed by block chain techniques.
CTC is a token based upon the Credit Tag Chain, a credit asset value network built on BlockChain technology with global coverage. The Credit Tag Chain develops the smart contract of credit guarantee to improve the fiduciary relationship between the loan customers and the credit institutions. By locking a certain amount of CTC tokens via the smart contract, the loan customers obtain loans from the credit institutions. Based on the credit rating, the customer can obtain a loan amount that is multiple times of the value of the locked CTC tokens. The data on the loan behavior would be recorded in the block through smart contracts, helping the users in credit information building. The credit information may be inquired mutually through the BlockChain. The credit risks are thus significantly reduced. At the same time, the Credit Tag Chain would enable data inquiry to be more accurate, more convenient and safer through the privacy protection mechanism.
"Loan customers may obtain loans through freezing a certain amount in the CTC, while the credit institutions may reduce credit risks which in turn would make them likely to serve a more extensive range of loan customers with even lower interests," said Nigel Lim, co-founder and CTO, "CTC provides a way to actualize inclusive finance."
Before its launching at OEX, multiple credit institutions in Asia have successfully connected their business with CTC and validated the scaled application of the CTC smart contract for credit guarantee. Several ten thousand of users have already got their credit loan through CTC.
We Credit Tag Limited was founded in Singapore. Most of its key members are graduated from top universities in US, Australia and South-East Asia, and have experiences in internet-based finance and block chain areas for many years.
SOURCE Credit Tag Chain