MicroMoney and COTI Announce Strategic Technology Partnership to Enhance Financial Services

MicroMoney and COTI Announce Strategic Technology Partnership to Enhance Financial Services 
A blockchain credit bureau and social lender MicroMoney and COIN — Currency of the Internet — have announced a broad partnership aimed at enhancing MicroMoney’s position in social lending. Both firms will collaborate to further facilitate financial inclusion of the unbanked people around the world.

Both companies combine the best of traditional systems with the best of blockchain technologies. While COIN provides fastest, easiest and most cost-effective payment solution in the crypto world, MicroMoney gives opportunities to get loans through blockchain. COTI is driven by three crucial components: the Trust Scoring Engine, the Mediation System, and the Currency Exchange. The COTI’s Trust Scoring Engine and MicroMoney’s scoring system are particularly important because they use a proprietary algorithm to rate creditworthiness and trustworthiness of buyers and sellers, and loan applicants.

The scoring system driving COTI’s network creates such conditions that users tend to act in an honest and trustful manner. MicroMoney provides loans for the unbanked people in Asian and African countries where local residents need financial services but requirements of the modern global economy do not let them get such services. The partnership will result in increase of the effectiveness for both companies, which in turn will provide better service for millions of people.

Both companies stress that blockchain trading is developing at an incredible pace. In several years, digital currency will have a crucial meaning for the humanity and may replace coins, cash, bank cards and checks. Financial transactions will be carried out in an easier, more comfortable and secure way. COTI provides advanced solutions that are based on blockchain technology with the emphasis on trust, low transaction fees, and transaction power. MicroMoney hopes to boost its own service element through the new partnership, which may help it reach the ambitious goals.