[ANN][MicroMoney] The New Global Crypto Economy

[rdny]

hi devs and all the members of this thread! i have a newbie question since im new here, what is the credentials or requirements of micromoney if someone wants to borrow money? thank you

hi there bro/sis, from what i know their platform will also be using KYC system. I think the requirement itself is to avail the token. But not that sure of the specific details. But it's a good question tho, how can you lend money to someone you don't even know.

yes! thats why im asking how it works. but i read on the first page that micromoney focuses on lending money without any collateral or paper documents.

As from what I have understood from their whitepaper, there will be no to minimal paper documents to be required in conducting their KYC. Instead, they will be requiring only an online application backed up by either the borrower's smart phone and/or social media data which will then be subjected to their algorithms prior to approval. In essence, your data will be used to analyze your financial attitude which in turn will be used by micromoney to assess whether you will be a good payer or not and eventually will be needed before approving the borrower's loan.

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[Katashi]

Hey OP will this be a problem for those of us that signup to receive tokens through orderbook ?

withdrawal is still available for non-verified users that is a good news. there is no problem.

Exactly i also heard this news, i think most of the exchanges and platforms are adopting this program nowadays. Coz since most of it are considered venturing to finances which is the goal is to avoid money laundering and other illegalities.

[rdny]

Guys...just curious..I am not saying that MicroMoney is a bad project...infact I have invested in it but why there are just 10k downloads for its app in google playstore..considering it is already active in 2-3 countries?

It is active already in 2-3 countries in the south east Asian regions not through the app but basically through the microfinancing company they have spearheaded for the unbanked and underbanked society. They will be bringing their business model internationally and expand it through the use of AI and blockchain technology.

[iamlds08]

hi devs and all the members of this thread! i have a newbie question since im new here, what is the credentials or requirements of micromoney if someone wants to borrow money? thank you

hi there bro/sis, from what i know their platform will also be using KYC system. I think the requirement itself is to avail the token. But not that sure of the specific details. But it's a good question tho, how can you lend money to someone you don't even know.

yes! thats why im asking how it works. but i read on the first page that micromoney focuses on lending money without any collateral or paper documents.

Agree on you both but i also think in order for you to be lended by AMM it will take a corresponding amount of token you are holding and for sure it's via Smart Contract. I am 100 percent sure on the KYC policy coz this will be concerning on credits on finances so definitely there will be KYC policy.

Micromoney is doing business since 2015 in cambodia myanmar and other asian countries. the creditials need for borrower is listed on the whitepaper. yes kYC is the new program for cryptocurrencies and MT.Gox taught us to have that. btw, aside from lending, AMM also produce credit records to its borrowers for them to be accounted.

[chillcott]

hi devs and all the members of this thread! i have a newbie question since im new here, what is the credentials or requirements of micromoney if someone wants to borrow money? thank you

AFAIK, There are no requirements/collateral fir borrowing loans from MicroMoney. The team is building a micro-financing Platform without limitations. But be aware that the loans will not be much. But the loan amount will be increased with each successful loan repayment.

i see, so is there any scheduled date of payment if someone approve by micromoney?

[rdny]

Hey OP will this be a problem for those of us that signup to receive tokens through orderbook ?

withdrawal is still available for non-verified users that is a good news. there is no problem.

Exactly i also heard this news, i think most of the exchanges and platforms are adopting this program nowadays. Coz since most of it are considered venturing to finances which is the goal is to avoid money laundering and other illegalities.

if exchanges are using KYC procedures, then wouldn't that be like going to a bank to be verified and subjected to checking. Isn't that the beauty of coins where in you can transact anonymously and freely without intervention from governments and costly fees and regulations from the banking sector. If you're being subjected to KYC, then that means that someone is watching over you're transactions and what not?

[rdny]

hi devs and all the members of this thread! i have a newbie question since im new here, what is the credentials or requirements of micromoney if someone wants to borrow money? thank you

AFAIK, There are no requirements/collateral fir borrowing loans from MicroMoney. The team is building a micro-financing Platform without limitations. But be aware that the loans will not be much. But the loan amount will be increased with each successful loan repayment.

i see, so is there any scheduled date of payment if someone approve by micromoney?

According to their whitepaper, approval is more or less 15 seconds upon application and proceeds of loans can be received with in more or less one hour after approval at the specified medium like through bank accounts and money remittance services.

[rdny]

I really hoped that the team would raise the maximum capitalization, but what we see now is also a good result!

I hope so too, because more money project will collect now, more will be benefit in the future.

I also expected it to get sold out as it is a promising project. Anyways lesser coin is good for investors.

i believe it would be happening, given there are so many ICO's engage in financial sector but i find this one very different from others. it's fundamentals and principles are really astonishing which makes me believe thay they can.

I agree with you , the that this service already working for more then two years, make it far ahead of the rest.
And we invest our resources in already working product, not in ideas from WP.

Working from the financial sector myself, I cannot agree more on this. Their whitepaper is more of an expansion and globalization of their already proven business model that is already profitable in the countries they have been operating these past few years.

[mongkie]

regardless of the Token Distribution results, micromoney will scale its business to Indonesia, Sri Lanka, Philippines, Vietnam, Malaysia, Singapore, China, Hong Kong and Nigeria.
Nonetheless, a successful Token Distribution campaign will allow AMM to speed up the planned expansion, capture additional markets, and develop our products and services more quickly.

that is the promise of AMM with regards with the result of their ICO. that assures me as an investor to put my money in.

[chillcott]

i just read the whitepaper that micromoney can approved your application for the loan in 15 seconds and can give the fund in 1 hour. that was fast unlike any other lending company.

[mongkie]

i just read the whitepaper that micromoney can approved your application for the loan in 15 seconds and can give the fund in 1 hour. that was fast unlike any other lending company.

how do they screen their customers in 15 seconds? im just curious.

[rdny]

I read in the whitepaper that the project will be developing in Asia, Africa and South America. Why not in Europe or North America? Even in the most developed countries, there are many people without access to basic financial services. 

You are right. There are still s level of demands for such services in some developed economies. But I believe that MicroMoney is concentrating on where the need is very high and that should be most developing countries. I think is a great way to start. Africa and Asia are great markets.

I cannot agree more on this. In fact, here in the Philippines, even when you have complied with their documentary requirements, there are some instances that they reject your application for opening a bank account. The bank officer told me that I should be a resident within their bank branch area of jurisdiction which was not included in their list of requirements for account opening. Although I have accounts with other banks, this is really bad since I was trying to open an account to try out if their services are better than the others.

[chillcott]

i just read the whitepaper that micromoney can approved your application for the loan in 15 seconds and can give the fund in 1 hour. that was fast unlike any other lending company.

how do they screen their customers in 15 seconds? im just curious.

according to the whitepaper the client can get their money by filling the application form on their mobile app, the screening takes only 15 second by using the machine learning algorithms,

[iamlds08]

I read in the whitepaper that the project will be developing in Asia, Africa and South America. Why not in Europe or North America? Even in the most developed countries, there are many people without access to basic financial services. 

You are right. There are still s level of demands for such services in some developed economies. But I believe that MicroMoney is concentrating on where the need is very high and that should be most developing countries. I think is a great way to start. Africa and Asia are great markets.

I cannot agree more on this. In fact, here in the Philippines, even when you have complied with their documentary requirements, there are some instances that they reject your application for opening a bank account. The bank officer told me that I should be a resident within their bank branch area of jurisdiction which was not included in their list of requirements for account opening. Although I have accounts with other banks, this is really bad since I was trying to open an account to try out if their services are better than the others.

that is why Micromoney is in need in your country. better read their business plan for the philippines https://github.com/micro-money/prime/blob/master/Countries%20Roadmap%20FULLY/!Philippines/Business%20Plan/Philippines%20Business%20Plan%202017.pdf

[zemelax]

i just read the whitepaper that micromoney can approved your application for the loan in 15 seconds and can give the fund in 1 hour. that was fast unlike any other lending company.

how do they screen their customers in 15 seconds? im just curious.

If I'm not mistaken, you agree to access the phone, and do not scan all of your data and on the demo of this issue a decision, approve \ not approve, in my opinion so.

[rdny]

Yes, i also noticed that, i would like to see how they plan to run their business and apps on blockchain.

very little technical details on the projects, do you plan to expand the WP?

Why are you asking to put a lot of information to WP. Big WP is not good to. If it have 10-20 pages may be someone will read it. But if it will be 50+ it's to hard to read.

i think we have to take into consideration some signs that make an ICO unique and has a working product, if it Has a good Team with large professional experience, not only a whitepaper,

Whitepaper is like an abstract to a certain thesis, they are just sharing with you the key concepts and ideas and the basics of their business model. These information are then used by possible investor, user, developer and can also be used by a competitor. That is why it is important to share just enough but not too much to prevent loss of information and leaking of their trade secrets.

[mongkie]

i just read the whitepaper that micromoney can approved your application for the loan in 15 seconds and can give the fund in 1 hour. that was fast unlike any other lending company.

how do they screen their customers in 15 seconds? im just curious.

according to the whitepaper the client can get their money by filling the application form on their mobile app, the screening takes only 15 second by using the machine learning algorithms,

oh they are using AI to assess the credit score of each applicant. that sounds high tech to me! where can i see the form for me to try it? does this application is hack proof?

[chillcott]

i just read the whitepaper that micromoney can approved your application for the loan in 15 seconds and can give the fund in 1 hour. that was fast unlike any other lending company.

how do they screen their customers in 15 seconds? im just curious.

according to the whitepaper the client can get their money by filling the application form on their mobile app, the screening takes only 15 second by using the machine learning algorithms,

oh they are using AI to assess the credit score of each applicant. that sounds high tech to me! where can i see the form for me to try it? does this application is hack proof?

i think it is were talking about money and their using this high tech algorithms so maybe they using a great security system too.

[mongkie]

Yes, i also noticed that, i would like to see how they plan to run their business and apps on blockchain.

very little technical details on the projects, do you plan to expand the WP?

Why are you asking to put a lot of information to WP. Big WP is not good to. If it have 10-20 pages may be someone will read it. But if it will be 50+ it's to hard to read.

i think we have to take into consideration some signs that make an ICO unique and has a working product, if it Has a good Team with large professional experience, not only a whitepaper,

Whitepaper is like an abstract to a certain thesis, they are just sharing with you the key concepts and ideas and the basics of their business model. These information are then used by possible investor, user, developer and can also be used by a competitor. That is why it is important to share just enough but not too much to prevent loss of information and leaking of their trade secrets.

if you are an investor, you are keen on details and problem that the project may encounter because you are risking your hard earned money on it. the pages of whitepaper doesnt determine the whole project but the content itself.

[rdny]

Hey guys, pls tell, does this kind of project have competitors?

Hi BatkaFromMinsk,


This website has made a list of some competitors on different countries :
http://iconow.net/micromoney-ico/

Tell us if you find anyone that has exactly though, we have pretty specific goals that put us ahead of the game!

Basically, everyone in the financial and lending sector is a competitor of micromoney. These may include but are not limited to banks, lending companies, cooperatives, loan sharks, government, non government organization inclined to the same purpose, micro lending facilities and such.