Renmaibao Social Lending Network white paper was released, opening up a new form of blockchain social finance

On the evening of January 11, Shangmaibao, the world's first innovative online social lending solution based on smart contracts and blockchain technology, released a project white paper on its official website.

Social Lending Network revealed in its white paper that based on the current role of people as nodes in social networks, combined with blockchain technology and its matching smart contract mechanism, it can build a decentralized, tamper-proof, self-organized, and transparent global credit exchange network platform.

Renmaibao: Blockchain + connections + credit value, opening up a new form of decentralized finance

In the traditional financial era, there are two main ways for people to obtain working capital: one is for individuals to apply for loans from financial institutions, and the other is for individuals to borrow from others.

Before the advent of the Internet, people mostly relied on banks to obtain financing. After entering the Internet era, with the innovation and popularization of the Internet, smart terminals and payment methods, new financial institutions - Internet finance, consumer finance and other financial institutions have met people's financial needs to a greater extent.

From a developmental perspective, the centralized traditional banking industry represents the 1.0 form of finance, while new financial methods such as Internet finance and consumer finance represent the 2.0 version of financial development.

Nowadays, with the support of blockchain technology and the trend of mass social networking, "social finance" based on blockchain technology, or interpersonal lending, based on the evolution of people's lifestyles and consumption patterns, largely represents the direction of future finance. Renmaibao is also expected to create a new type of online autonomous and automatic interpersonal lending social financial ecosystem supported by blockchain technology.

In the future, with the implementation of the Renmaibao project and the globalization of social networks and personal relationships, Renmaibao's social lending model will be globalized. Borrowers and lenders can easily use SLT (Social Lending Token) and digital media such as BTC and ETH to realize C2C2C global lending activities.

Renmaibao is backed by a trillion-dollar market and equipped with a strong team

From a technical perspective, blockchain technology, which has emerged in recent years, has the inherent advantages of decentralization, immutability, openness and transparency, allowing everyone to participate in database records and providing a technical foundation for decentralized individual-to-individual lending.

This can be seen from the business process of Renmaibao. Through Renmaibao, borrowers publish IOU information in Renmai circle, and lenders respond to loan applications anonymously. At the same time, lenders can help original borrowers by initiating new loan applications, so that original borrowers can integrate funds more conveniently and efficiently. All lending activities in the Renmaibao network are carried out through SLT as the credit contract carrier. SLT can be exchanged with other digital assets through exchanges. The SLN (Social Lending Network) network operated by Renmaibao will record all users' personal connections and loan transaction records through blockchain technology.

On the other hand, the awakening of mass consumption concepts has given rise to a trillion-level credit market. From a global perspective, the credit consumption market of Chinese citizens has leapt into the forefront of the world. According to the "China Consumer Finance Innovation Report" released by the National Financial and Development Laboratory, the total amount of consumer credit in China was 6 trillion in 2016, and this figure is expected to exceed 12 trillion by 2020.

Backed by a trillion-dollar market and the increasing international recognition of blockchain, Renmaibao's innovative applications may change people's daily financial lending methods on a global scale and create a highly valuable social currency market.

It is worth mentioning that the Renmaibao project team is mature and stable, with a R&D and operation team of nearly 100 people, a marketing team covering the whole country, and core members from top companies such as Alibaba, Tencent, Baidu, NetEase, Lucent, Huaxia Bank, CreditEase, etc., which ensures the rapid implementation of the project. In addition, the consulting team is composed of top experts in China's Internet, investment, and blockchain fields, including top entrepreneurs in maps, IBM, and financial technology, laying a solid foundation for Renmaibao's business direction, technology implementation, and global layout.

Facebook, which focuses on social networking, has grown into a giant company with a market value of over one trillion after more than ten years of hard work. Ant Financial, owned by Alibaba, WeChat Pay and Tenpay, owned by Tencent, are also trying social finance. After just a few years of growth, they have become giant companies with a market value of tens of billions. It is conceivable that Renmaibao, which innovatively integrates the promising blockchain technology with social networking and finance, is also expected to grow into the next global platform with a market value of tens of billions.

To learn more about the relevant information, you can add Renmaibao customer service or visit the official website for consultation.

Official WeChat customer service: renmaibao9

Official QQ group: 3468261422

Official website link: https://sociallending.io/