Tokens that really matter for reputation

MicroMoney is a market first blockchain credit bureau providing social microloans for people within there Android application, with the process of scoring and approval that takes not more than 15 minutes. This sophisticated scoring system based on machine learning algorithms which analyze over 10 000 parameters available from customer’s mobile phone.

Starting an operation in Cambodia in 2015, now MicroMoney works in Myanmar, Thailand, Indonesia, and Sri Lanka and plans to enter 5 more new emerging markets like the Philippines and Nigeria in a few upcoming months. MicroMoney’s mission is to deliver financial services to the undiscovered, unserved, and unbanked people (that is nearly 35% of the global population) which have no credit history and thus no access to the bank services. We believe that we can revitalize the banking experience for emerging countries citizens to make all the credit processes simpler, safer, and more accessible.

With their first loan, borrowers can receive $30–60. Then, if they pay back loans on time they get less interest rate and bigger amount for the next loan, for example, $100–500 for 8–12 weeks. For third-fourth loans, they will have 200$ for one-two month with about 30$ interest amount. There is no fixed percentage rate, just fixed payment time. We always seek to reduce the repayment impact to our customers.

After token distribution campaign started on 18 October 2017, MicroMoney plans to develop its credit bureau using blockchain to store all the data and to build an ecosystem where its token can be used and our innovative scoring system powered by AI algorithms, machine learning, and Big Data analytic tools to evaluate a customer’s creditworthiness and to update and enlarge its rich database with detailed and valuable information about each of the customer. After the token generation event, the company will continue to serve borrowers’ best interests: now they not only will get better scoring but can also be rewarded with AMM tokens, showing their own scoring results with other businesses as well as their reputation level within the ecosystem. Borrowers can also use AMM tokens they possess as a form of collateral in order to potentially reduce interest rates.

Sharing their personal data (with a customer’s consent) is another option to get AMM tokens. For businesses that means different forms of partnership available in the ecosystem. With AMM tokens they receive the access to that shared data. The profit is mutual for a business and a customer: every time a paid inquiry for scoring data comes in, we give 50% of it to a borrower agreed to provide an access to his or her reputation data — we are fully committed to our win-win philosophy. And another point is that we can help to create a positive credit history for 2 billion people who are not involved in the traditional banking system. Using MicroMoney service, they are getting even larger range of choices and offers from financial services. This way our tokens are backed by existing working scalable business and our profitable product — same as that eutopic finacial world people need access to money, to loans, to funds, and businesses need the access to these people.

The AMM token will form a fundamental part of the MicroMoney business ecosystem and will support our plans for expanding the geographic footprint, the ecosystem itself, and for increasing the rewarding for customers and partners. AMM tokens represent the right to use specific services and functions based on the number of tokens that are held in a partner’s wallet. Corporates who want regular access to use MicroMoney’s features should buy the token on exchanges at market prices. Corporate partners can become franchisees and/or get access to the AI Neural Network Scoring System, Big Data, and the Credit Histories Bureau.

For programmers and technical partners, AMM tokens provide access to MicroMoney’s Artificial Neural Network Scoring System. The core functionality will eventually become an open source code which can be further developed and refined by programmers.

Finally, as with any other cryptocurrency, token holders can store their tokens in their wallets or trade them on any of the participating exchanges.