MicroMoney announces its upcoming token distribution campaign that begins on October 18th, 2017. The global blockchain company and lending provider seeks to expand its business into new regions.
[Note: This is a press release.]
MicroMoney, a global fintech blockchain company and lending services provider, announces the worldwide launch of the token-generating event and the start of the token distribution campaign. Having two years of successful business behind its back, MicroMoney will start its token crowdsale as of October 18th, 2017. Having already accumulated over $1.8 mln from current campaign participants, MicroMoney initiates a $30 mln worth token distribution campaign with an intention to use funding for further business expansion to other regions via a franchise model.
In its mission of financial inclusion for over 2 billion of unbanked and underbanked people to the global financial system, the company, already a sustainable business in Myanmar and Cambodia, has expanded its presence to Thailand, Indonesia, and Sri-Lanka over the two previous months. According to the founders Sai Hnin Aung and Anton Dziatkovski, MicroMoney makes use of the best ingredients to offer opportunities both to citizen and enterprises alike.
Billions of people are locked inside a vicious circle, not being able to apply for their first loan due to the absence of credit records. Banks, while obliging customers to prove their creditworthiness, are not able to approve a loan application without a number of papers or credit histories. MicroMoney untangles this knot by offering people an opportunity to obtain their first loan thanks to an intelligent scoring solution based on neural networks, Big Data, and AI technologies. The only thing the company needs to evaluate a borrower’s creditworthiness is the access to a borrower’s smartphone data. The access approval, as the loan application itself, a customer completes online within the mobile app designed by MicroMoney.
In the same application, MicroMoney clients can agree to share their data with other financial or retail companies making their digital footprint available to other stakeholders, thus becoming rightful participants of the global economy and holders of their credit score, now eligible to offerings from other banks and organizations. As Madhawa Edussuriy, Managing Director at Prosperous Capital & Credit Limited and MicroMoney partner and advisor, states:
MicroMoney places thousands of potential clients in reach for companies, banks, insurance, and telecom service providers, offering one of the lowest-cost customer acquisition models if compared to traditional banks and credit bureaus.
“Where traditional banks spend hundreds of dollars to attract new customers, we offer Big Data at a hundred-fold less cost”, Dziatkovski adds. “With stable position and experience in the crypto community, we are creating a blockchain-based credit score bureau which will solve the inclusion problem for billions of potential clients all over the world,” says Sai Hnin Aung.
The MicroMoney founders added:
We are happy to have earned trust from the community and received an impactful boost to our global expansion plan. We have 2 years’ track record of a stable, mature business, and our win-win business model is backed up by our shareholders, all of them with great market experience from Bloomberg, stock exchange investment companies, venture funds, banking, and microfinance organizations. In our ambition to make our successful business model available for a worldwide franchise, we count on a successful token distribution campaign which will serve for a greater cause and offer token holders a true value for money.
MicroMoney is a global fintech company providing the access to financial services for unbanked people on emerging markets and the access to the emerging markets’ audience for banks, trade, and financial organizations.
MicroMoney focuses on lending services without any collaterals or paper documents requirements thanks to its scoring platform based on neural networks. We use data collected from a customer’s mobile phone to assess the potential borrower’s score rate and to share the data and their analysis results with companies worldwide via platform’s API.
MicroMoney is a fast-growing company with $1,25 million share capital and more than 200 employees across offices in Singapore, Thailand, Myanmar, and Cambodia.
Images courtesy of MicroMoney.