Blockchain technology offers an answer to classical but outdated banking restrictions. It provides financial institutions with a way to increase market competition and to make a product revolution in financial services. The current situation enables and even forces all market players to provide fast and affordable services for the financially excluded worldwide.
Today we can say that savings and lending services constitute human rights. Moreover, financial services have become one of the main sources of income for state economies, encouraging the development of other industries. Providing the unbanked with access to wider financial opportunities means a higher standard of life globally: better education, medical care, establishing new small businesses, and improving the state’s economy
According to a McKinsey Report, in 2010 2.5 billion adults, just over half of the world’s adult population, did not use formal financial services to save or borrow. Despite the movement towards financial inclusiveness, in 2017 there are still about 2 billion people in the world without formal banking. That means they are forced to use cash in their daily life and have no chance to address their urgent needs by applying for banking services. Borrowing from friends and family is the most common source of urgent finances because their loan applications are hardly approved by banks. The reason is always the same: they have no credit history. Although financial organizations declare that there are fewer and fewer unbanked each year, those who remain in an unbanked or underbanked status do not have an easy way to solve their situation.
Global problem
100 out of 196 countries in the world serve as a home for 2,000,000,000 unbanked people, who use cash only, do not have any credit history and do not have access to any financial services. It is essential to note that most of these people use their smartphones and social networks on a regular basis . This is a tremendous amount of a new data and a substantial number of new potential clients. Financial institutions do not have any information about these clients and their creditworthiness, thus they do not want to take a risk to serve these people. However, these people still need funds and surely businesses still need new customers to survive a competition!
We are here to help these 2 billion unbanked people to explore The New Global Crypto Economy!
Micromoney is a team of professionals who have a capacity to work in the emerging markets where all established banks are not able to operate, and even if they do decide to be there, they are not innovative enough to survive in this environment.
Our 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.
Market Overview
Emerging markets show interesting statistics: they have a high percentage of the unbanked and underbanked, and a high penetration of Internet and mobile services at the same tim
- Africa (population: 1.1 billion)
80% of the population does not have a bank account but 63 out of 100 people use mobile phones. Experts expect this factor to help solving the banking services availability problem as it provides an opportunity to unbanked individuals to access banking services via their mobile phones.
- India (population: 1.3 billion)
Currently, India is the world’s fastest growing Internet market with a user base growth of 51.9% in 2015. However, India’s unbanked population would be the world’s 7th-largest2. A report3 prepared by PricewaterhouseCoopers in 2015 pointed out India’s unbanked population that year to be 233 million.
- China (population: 1.3 billion)
China has 731 million internet users with 53.1% of the population online. And 95% of users access the Internet from their phones. The country shows a fast development pace but still has 21% of the unbanked
- Pakistan (population: 193 million)
Pakistan showed 185% growth of mobile broadband
users, but 100 million Pakistanis are still unbanked
- Southeast Asia (population: 800 million)
The Asian region overall is expected to be the world’s fastest growing Internet region by 2020. It
shows a growing amount of Internet users, extending mobile phones penetration and increasing usage of social networks.
According to Google and Temasek, by 2025 the South East Asian Internet economy is expected to reach USD 200 billion, strengthening its already strong and growing GDP of USD 2.5 trillion. With its mobile connection growth rate higher than the global average (124% vs. 103% respectively), and its Internet speed expected to reach the global average of 23.3 Mbps soon, the region’s Internet industry is flourishing. Furthermore, as of January 2017, social media penetration of its member countries is high (statement out of the blue, needs supporting data). At the same time, only 27% of the South East Asian population has a bank account. In poor countries like Cambodia, the numbers fall to about 5%. That corresponds to about 438 million unbanked in the region.
.
Confirmed Exchanges
Mission MicroMoney
- Solving hunger and poverty by providing unbanked people with the access to financial services and a possibility to build their first credit history on a Blockchain.
- Helping unbanked small entrepreneurs grow their businesses by offering them online loans.
- Enabling banks, financial companies, einstitutions, and retail businesses worldwide to efficiently scale and serve customers, who previously had no access to their services.
- Creating an extensive micro-financing ecosystem by providing our franchise to local partners.
- Raising financial awareness among our clients by offering consulting services and educational materials.
- Enabling Blockchain companies to efficiently scale their customer base by getting access to our open source Credit Bureau with millions of un(der)served people.
- Bringing financially excluded people to the new global crypto economy.
Token Distribution Structure
The MicroMoney Token distribution and the corresponding token creation process will be organized around smart contracts running on Ethereum.
Token name: AMM
Total Token Supply: 60,000,000 AMM.
Tokens that are not sold during the Token Distribution will be destroyed.
Goals:
Minimum: $1 million. Maximum: $30 million.
If the Distribution campaign does not reach its minimal capital goal of $1 million, all
funds will be returned automatically to the AMM holders by the Ethereum smart
contract. Initial rate: Token price is locked to $1 per 1 AMM.
Token distribution:
Founders — 8%
Advisors — 4%
Bounty — 4%
Token buyers— 84%.
Time-bonuses for early Token buyers during the Token Distribution phase (extra tokens
added to a purchase):
1 day — +25% bonus
2-7 day — +20% bonus
7-14 day — +10% bonus
14-21 day — +5% bonus
Bounty program (%X out of the bounty pool):
Facebook Campaign - 18%
Twitter Campaign - 18%
Bitcointalk Signatures Campaign - 20%
Bitcointalk Support Campaign - 20%
Publishing Campaign - 12%
Project Creative Support - 12%
How does the MicroMoney Work?
- Our History: Two years of hard work
- Performance Summary
- Our Timeline
- Scoring App Powered by Artificial Neural Network
0 Response to "MicroMoney - Blockchain Technology Offers an answer to Classica"
Post a Comment