Hi all, I'd like to show you the rating system that we're going to implement in the next month or so. Please give me your feedback so we can make sure that we build the best system that we can.
Rating Factors1. Collateral (in order of which ones we're planning on releasing first):
a. Altcoins- litecoin, namecoin, primecoin, etc.
b. Digital securities- cex.io, cryptostocks.com, etc.
c. Financial securities- stocks, bonds, options, futures, etc. anything that can be transferred via one of the standard brokerages.
d. Gift cards- Gyft (gyft.com), Amazon, Target, Walmart, etc.
e. Digital property- domain names, twitter accounts, etc.
2. Identity: this is comprised of ID, address, phone, e-mail and income verification.
3. Trust: the trust factors include connecting accounts from PayPal, eBay, Amazon, bitcointalk.org, localbitcoins.com, etc.
4. Social: connecting social accounts, such as Facebook, LinkedIn, Twitter, Google+.
5. Payment: is the payment current, late 0-15 days, late 15-30 days, or late 30+ days.
Rating ChartRating SystemRatings are from Triple A (AAA) to D. In order for a user to be rated as triple A, they must post Collateral, be 80-100% ID verified, 80-100% Trust networks connected, 80-100% Social networks connected and they must not have any late payments. The rest of the ratings are easy to understand, but a person would automatically get a DDD rating if they're late on a payment AND they don't have collateral posted, regardless of their other statuses.
Please let me know if you have any comments on this. Any points of improvement? What would you like to see in our system that might make it worthwhile?
Best Regards,
Kiril Gantchev
CEO of BitLendingClub
www.bitlendingclub.com