Decentraland Partners With RCN to Bring Credit Loans to Virtual Businesses

Decentraland Partners With RCN to Bring Credit Loans to Virtual Businesses

Smart Planet

We recently announced our latest partnership with Aelf and FBG Capital to build a virtual Silicon Valley. In combination with our Genesis City Auction, we’re preparing for an economic boom within Decentraland. To meet the needs of our growing virtual economy, we’re partnering with RCN to provide capital to Decentraland endeavors.

Partnering to accelerate a burgeoning economy

While Decentraland users are already using cryptocurrency to purchase virtual land, we’re expecting a large economy to develop around the organizations and services that are built. Finding a way to give landowners access to credit, for instance using other digital assets as collateral, would allow them to expand their businesses and offerings at greater speeds. RCN was a natural fit to accomplish this.

RCN is a global peer-to-peer credit network based on cosigned smart contracts which are backed by Ripio. This strategic partnership establishes a disruptive channel between virtual reality and global credit services.

We’re very excited to work with the RCN team. By integrating our services, Decentraland users will have newfound access to credit, augmenting their ability to invest in their virtual endeavors.” — Ari Meilich, Decentraland Project Lead

Decentraland was created to disrupt established methods of communicating, socializing, and doing business. By integrating RCN’s capabilities, we have an opportunity to create a global lending ecosystem specifically tailored to virtual economies.

Our goal is not just to build new standards in global credit services, but also to give birth to a global lending ecosystem that can connect people on any currency, no matter if they trade in the real or the virtual world. Our alliance with the Decentraland team is a huge step towards this objective.” — David Garcia, SVP at Ripio Credit Network.

We will being implementing the RCN protocol into Decentraland by the second quarter of 2018.