According to World Bank, 2 billion people around the world are still unbanked and unserved. Unable to build credit, they lack access to basic financial services like personal loans and SME loans. This is a critical problem affecting local economies, especially in emerging countries like the Philippines, Thailand or Myanmar.
MicroMoney offers a solution: it helps people to build their first credit history on the blockchain. It uses new technologies and Big Data to determine a person’s creditworthiness via an innovative scoring system based on neural networks and A.I. algorithms.
Anton Dzyatkovsky, co-founder of MicroMoney said:
“We are proud of the fact that we can help people who have no access to the classical but outdated centralized economy of banks. We’re developing a whole new ecosystem to power the new world of the global crypto economy.”
The company wants to lead the way towards to eliminating poverty with mobile and internet availability, along with financial inclusion. The founding team has a clear vision and set of goals following the token distribution campaign. Setting the sale hard-cap to $30 Mln, it plans to truly revolutionize the current economic situation in emerging countries around the world including Asia, Africa, and South-America regions.
Anton Dzyatkovsky, co-founder of MicroMoney, is also the lending director of Everex, a blockchain company with similar goals. Everex has already raised 25M USD. With more than 15 years experience in the fintech industry and an extended understanding of the Asian market, Anton worked in Singapore and Thailand. He is fully aware of what could be improved in those countries and believes strongly in changing the lending industry.
AMM Token price is locked to $1 dollar per AMM Token. A maximum quantity of 60,000,000 will be issued and all the unsold tokens will be destroyed after Token distribution campaign.
The token distribution will start on October 18, 2017. Pre-sale has already started on September 15, 2017, with a 43% bonus on all purchases during this period. Early contributors will get bonuses as high as 25% bonus on day one.
MicroMoney for the people, Big Data for Businesses
The platform is already functioning in 5 countries and has helped a lot a people which lack resources. It has a large amount of feedback with gratitude. Data don’t lie, indeed, 73% of customers are returned customers for whom the platform opened brand new possibilities. 9 out of 10 customers got the first loan of their life!
It is important to note that behind its easy process lays a complex and sophisticated type of technology: neural scoring. Gathering more than 10 000 data parameters from a person’s phone, algorithms can determine the creditworthiness of a person in a record-time of 15 sec. Smart contracts are now being developed to secure transactions within the platform.
Now, MicroMoney plans to expand to China, Hong Kong and by the end of 2020, the company aims to cover India, Africa, and South America.
Founded in 2015, MicroMoney International is a global fintech company offering financial services for the unbanked in the emerging markets, and access to the unbanked audience for banks, trade, and financial organizations. MicroMoney is a fast-growing company with $1.86 million paid-in capital and over 85 employees. MicroMoney makes lending decisions using a proprietary, based on A.I. algorithms and neural networks mobile scoring system as opposed to collateral or paper documentation. MicroMoney collects customers’ opt-in mobile phone data to assess potential borrowers’ score rate and to share the data with financial institutions worldwide.