MicroMoney changing the lending market using the blockchain
Blockchain start-up Ambisafe is best known for playing an integral part in the successful ICO launches of some of the leading projects like Polybius, Chronobank, and TaaS. This time it has partnered up with micromoney which is already a working product in the Asian market and will be expanding its operations to other parts of the world thanks to the ongoing tokensale this will help the company expand its operations using the funds raised.
With over two billion people around the world who remain unbanked, its one of the reason which has made it difficult for people to get microfiancing as they don't have credit histories to qualify for them and this is where Micromoney will fit in to provide money lending services and give them a credit ratingtheoreticallyy. What this means is if people remain unbanked the global economy is losing potential billions of working capital which could easily be fixed if banks had a different approach, but thankfully micromoney beat them to it by using a global decentralized digital credit bureau with the power of the blockchain that will make it easy for the unbanked people an opportunity to build their credit history and have access to these financial services. Micromoney will not only benefit the unbanked but spread out to insurance companies and banks that will have access to the micromoney credit rating database(at a fee) and will help to reduce the number of defaults when issuing out loans.
With this great initiative of micromoney this will open up the lending market, and in the long run improve people lives. Micromoney is based on a universal system of rapid assessment for the creditworthiness of a client which means there will be no need to collect a large number of documents to confirm ones ability to repay a loan, it will be as easy as installing the micro money application on a smartphone and retrieving those ratings. The application won't be biased as it will be based on neural networks, machine learning and Big Data. To get a credit score it will be as easy as launching the micromoney self learning system which will analyze the data from the borrower's smartphone and identifies potential credit risks with an accuracy of more than 95% after that program makes a decision to issue a loan or not.
With over 95 thousand processed registrations this goes to show how efficient and functional the program is. This is truly a groundbreaking project which is currently first expanding to Asia then to other parts of the world.
Remember to do your due diligence before investing in any ICO as there is always risk involved and value of the coin could fluctuate anytime. For more information about Micromoney visit the links below ⇩ ⇩ ⇩ ⇩
➢ WEBSITE: https://micromoney.io/
➢WHITEPAPER:https://micromoney.io/MicroMoney_whitepaper_ENG.pdf
➢ twitter: https://twitter.com/micromoneyio
➢ telegram: https://t.me/micromoneyico
➢ bitcointalk:https://bitcointalk.org/index.php?topic=2199477.msg22113023#msg22113023
➢ Github: https://github.com/micro-money/prime
➢ medium: https://medium.com/@micromoney.io
➢ steemit: https://steemit.com/@micromoney
➢ facebook: https://www.facebook.com/micromoneymyanmar/
➢ whatsapp: https://chat.whatsapp.com/DP5XsCwjd8H0OoY4b4EmD
➢ instagram: https://www.instagram.com/micromoney.io/
Author: ⓈⒽⒶⓌⓃ
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