MicroMoney is an Open Source Credit & Big Data Bureau that connects new customers to all existing financial services. . MicroMoney ICO rating – not rated.
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Ended ICO : 18/10/17 – 18/11/17
About MicroMoney ICO (token sale)
Financial services for unbanked and underbanked, Big Data, blockchain technology and A.I. scoring for business. All this combined with worldwide franchise constitute MicroMoney ecosystem.
Currently, MicroMoney is establishing new branches in Indonesia, Sri Lanka, and the Philippines. Next target countries are Vietnam, Malaysia, Singapore, Hong Kong, Nigeria, and China as a promising market. These branches will start operating in Q3 2017 – Q1 2018. For the purpose of further business expansion and developing new products, MicroMoney has decided to start a Token Distribution.
MicroMoney is a team of professionals experienced in working in emerging markets. There are 196 countries in the world, and 100 countries out of those 196 is our target market. Who are our potential clients? They are more than 2 billion of unbanked people, they run cash-only households, have no credit history, have no debts, and widely use smartphones and Facebook. They are so called “blue collars” and “white collars”, and SMEs. Their monthly income is around $200-500.
This implies a huge amount of new customers and we are here to bring them to the new world global crypto economy.
In an emerging market, a smartphone can tell us everything we need about its owner, so that we can estimate his/her creditworthiness. No jokes, your smartphone knows you much better than even your best friend.
So we made an App, which gathers 10,000 parameters. We analyze this Big Data using our
AI Neural Network Scoring and this is enough to take loan approval decision in just 15 seconds. Now, to borrow money using our app is as easy as to order Uber. Of course, we are always improving the system.
We realized that 90% of our customers take the first loan in their life. At the same time, we were overwhelmed by the idea: by providing money for people, we are not just helping with addressing daily needs. We are helping to create a digital financial identity, to build creditworthiness and reputation, to start their credit history.
And if we want to improve the lives of these two billion people, we must give them access to the world economy. How?
Building Open source Credit Bureau on Blockchain
Loans through smart contracts, transparent and reliable credit history. We must enable businesses to get access to our customers, offering them the best service.
Providing Big Data for Businesses
So our products are a digital financial identity encrypted on blockchain and Big Data gathered from borrowers’ smartphones. And that Big Data of previously unserved customers becomes really useful for business: people need money and services, while businesses need new customers.
As you can see, we had started as a company fully focused on micro-financing in money lending industry, aiming to provide the best solution to individuals and SMEs. But nowadays we are proud to be fintech company, working towards a goal of global financial inclusion.
Since 2015, MicroMoney successfully operates in Cambodia. In 2016, we started in Myanmar and decided to expand worldwide. In 2017, MicroMoney established back office in Thailand for the purpose of reducing operational costs and making further expansion to the region: Philippines, Indonesia, Malaysia, Sri Lanka, Singapore, Hong Kong, China.
While considering scaling our product, we’ve found around 100 most populated countries with billions of the unbanked and a huge demand for our main products.
So, we took this idea from McDonald’s, and completely standardized and packed our business processes in CRM system (BPM`Online). Now it is a ready-to-go Franchise Financial Platform. Hence, expanding to new countries and opening new branches is dramatically simplified.