Blockchain eliminates poverty! Forever. Join us now

How many people in the world have bank accounts and what do they use them for? You would think there would be answers to those questions, given that banking is the quintessentially global business, and is important not only in the West but in developing countries, where banks can help poor people save, borrow and invest. Yet, until now, data on the global reach of financial institutions have been limited. The IMF publishes a financial access survey of depositors and borrowers. But there is little about how much people save or why they borrow. Especially little is known about the banking practices of the poor, women and young people. So a big data hole got plugged last year when the Gates Foundation, the World Bank and Gallup World Poll carried out the biggest survey yet of how people save, borrow, make payments and manage risk. The results have just appeared.

What are the trickiest things for banks to involve such people into their audience? Unbanked
are profitable at large, but they involve higher risks and lower margins. Blockchain technology
came as an answer to classical but outdated banking restrictions.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. Current situation enables and even forces all market players to provide fast
and affordable services of high quality for financially excluded population worldwide.
Today we can say that savings and lending services constitute human rights. Moreover,
financial services become one of the main sources of income for the state economies,
encouraging a development of other industries. The access to wider financial
opportunities for unbanked means higher standard of life globally: better education,
medical care, establishing new small businesses, and improving the state economy.

The Global Problem

As people worldwide lack access to basic financial services, they have limited capacity to
overcome poverty and to increase their living standards. That implies lack of access to both
banking services (loans, mortgages, or bank accounts) and access to all other services and
opportunities. No credit history means limited access to banks services, which means no
loans, which means no credit history… However, there is hope to break this vicious circle.
There is a large percentage of the unbanked in Asia-Pacific Region, which is now home to
more than half of the world’s internet users, 54% of the world’s social media users, and 56% of
all mobile social media users. This trend proves that although most Asian people may be
unbanked, digital services and innovative solutions have improved people’s lives. And we are
here to help with bringing those millions of the unbanked to the new global crypto economy.

Our Solution

Giving micro money to people
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.
Expanding Worldwide
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 dramatical

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