MicroMoney - A Blockchain Based Platform Designed To Disrupt The Big Data And Credit Bureau Industries

There is a global problem: 1. About 2 billion people worldwide use cash only, since traditional banks and financial organizations tend to leave them aside for being too ‘risky’ and ‘uncertain’ customers. 2. Major Businesses do not know much about these potential customers, as they still remain in the ‘grey zone’; instead, banks prefer to reach customers in the first world countries. Therefore, a substantial financial revenue still remains excluded from the global economy. We all know people do need money, they want to consume, use different services & spend, while businesses need new, fresh & financially prospect clients.

Solution

MicroMoney is an Open Source Credit & Big Data Bureau that connects new customers to all existing financial services. MicroMoney A.I. platform uses complex algorithms to predict creditworthiness of all customers and in just 15 minutes a borrower can get their very first loan in his/her life just from their smartphone. All customers have an ability to pay less interest and have a higher credit rating, if they use our platform more often . All aggregated Big Data and Credit Histories are stored on the Blockchain. Thousands of existing businesses will get access to millions of new customers which we will bring to the global economy.

What Is MicroMoney?

Micromoney a global fintech-blockchain company, announced the launch of its updated scoring system which is based on Big Data tools and neural networks. The company uses these technologies in the process of loan-applications approval in its lending-services line of business.

The system works with all the data from a borrower’s mobile phone gathered after a customer completes the online application form within the MicroMoney’s mobile app and agrees to give the company access to personal data. MicroMoney’s solution uses thousands of alternative data points from multiple sources, combined with the sophisticated algorithms to return accurate results.

After a customer completes the application form, a loan can be approved in literally two clicks and within some minutes. Behind the scene is sophisticated technology which is able to quickly come through in analyzing process over 12,000 points of data and have the results available in seconds.

How Does MicroMoney Work?

Approximately two billion people around the world are considered “unbanked’. They cannot access traditional banking services, and they struggle to access credit and other financial products. Over a billion more are under-banked, which means they’re underserved by their existing bank. Lending platforms like MicroMoney are catered to these demographics.

Another problem with unbanked individuals is that even if they do find a way to access a bank, they’ve never built credit in their lives — which means they can’t access services like personal loans and SME loans.That’s where MicroMoney sees an opportunity: it wants to help people build their first credit history on the blockchain. The company uses innovative technologies to determine a person’s credit worthiness using an innovative neural scoring credit.

MicroMoney Features

Future Growth: MicroMoney is already active in 3 to 5 countries, with more countries scheduled to be onboarded shortly. The company aims to expand worldwide into 100+ countries in the near future.

Powered by Ethereum: MicroMoney has your credit history on the blockchain. It’s transparent, auditable, and administered by cryptographically verifiable code.
Financial Inclusion: MicroMoney aims to add 2 billion people into the global economy, including unbanked people who do not currently have access to credit.
Digital Identity: Create a virtual identity on the blockchain, and watch your virtual identity evolve with you and your funds.
Open Source: MicroMoney’s software and platform are open source.
Smart Contracts: MicroMoney doesn’t rely on third parties or mediators to complete transactions. MicroMoney uses smart contracts on the Ethereum blockchain.

The MicroMoney Token Sale

The MicroMoney token sale will start on October 18, 2017. The pre-sale has been underway since September 15, with a 43% bonus on purchases during this period. Early investors in the general crowdsale can access bonuses as high as 25% on day one.

Each MicroMoney token (AMM) will be priced at $1 USD. A maximum quantity of 60 million AMM will be issued, and any unsold tokens will be destroyed after the crowdsale.

The tokens are 100% pre-mined. They’re ERC20-compliant tokens. 84% of the total supply is going to the token sale, 8% is reserved for the team (frozen for one year), 4% for advisors and mentors, and 4% for bounties.

Uses for MicroMoney’s AMM Tokens
AMM token holders will have access to premium, advanced features on the platform, including instant loan application approval on demand. Furthermore, the more AMM you have, the better your credit rating will be in the MicroMoney ecosystem. Any person or small business will be awarded an AMM token after each payback of a loan, and all members of the MicroMoney ecosystem can accumulate AMM tokens to improve their credit score.Borrowers are also rewarded an AMM bonus if they pay back their loans on time. Meanwhile, delays will lead to a reduction in your AMMs.Ultimately, most people will use AMM as collateral to secure loans through the platform.

As an contributor, what is my profit?

Our token is an integrated part of our common ecosystem. This token will be in a huge demand among all of our customers and platform participants. By the end of 2017, we are planning to expand to five more locations that have a solid customer base including: Philippines: 103 million people; Indonesia: 261 million people; Sri-Lanka: 21 million people; Vietnam: 92 million people; In 2018, we are plannin to start operations in Singapore, Hong Kong, China, India, Indina, Australia, New Zealand, Taiwan, South Korea. In 2019, our expansion roadmap will include Latin America markets, including Brazil.

Why the tokens will grow in price?

The AMM token is the fuel of our ecosystem; businesses will use our tokens to purchase data and access valuable data insights. We also have a clear vision of our global expansion (as per our roadmap) and we can establish new points of presence very quick thanks to our online franchise model. We forecast the volumes of our big data to grow massively with each new expansion, which will also drive the value of the data. The businesses will have an interest in acquiring new clients, which we will be offer to them using our tokens.