[ANN][CROWDSALE] Global Credit Profile - Pave: A Decentralized Credit Bureau

[Pave]

What can you possibly need the social data, like Facebook or Twitter, for?

It’ll be used as subsidiary data, as a matter of fact, it does sometimes affect the decision of lenders on whether to issue a loan or not to

[turkiman]

i was so interested will join this project when i look and read this thread but i don't know still about the project mission, maybe i will read again step by step, from it i will understand about your project mission

[Pave]

what are the terms of withdrawal?
I need more clear information

If you're talking about withdrawal of garnered funds by Pave team - they're not going to extract anything from the pool until the end of the ICO. If you mean withdrawal of GCAT tokens to your Ethereum wallet, then it'll be carried out with automized platform which will send GCAT token to your Ethereum wallet (preferrably, MyEtherWallet) promptly after the investment.

[Pave]

What if I’ve never had a student loan? Will it make harder for me to apply for a loan via the app?

It’s, in a sense, even better for you Of course, it won’t cause any problems

[Pave]

Will the third parties have access to the whole data of users?

Me too interisuet this question. In general, the idea is interesting.

They will only be able to ask for users' approval to let them have the access - and this will yield users rewards in form of those very GCAT tokens which will have their fiat value in exchanges. However, those parties you're seeking loans or other financial services from, will naturally have access for free.

[Pave]

i was so interested will join this project when i look and read this thread but i don't know still about the project mission, maybe i will read again step by step, from it i will understand about your project mission

I can say you that the most important part of the WP is 'Product description' starting from page 18. Buckle down on this part - this is where the essence of the project is contained.

[annazaitun87]

that is great, what explain of the problem credits it is very good. but how did you implementation this project and what the special to use this platform

[Pave]

In case a user hasn’t filled all the forms when authorizing for the first time, is it okay?

In this case this profile will not be deemed a ‘complete profile’ and that will inevitably be a cause for concern for potential lenders

[AlexPavl]

Will there be any other data consumers apart from lenders? I mean, other businesses

[PaulSal]

So, every lender out there can get the access to my data?

[Pave]

Will there be any other data consumers apart from lenders? I mean, other businesses

In essence, any privy will find our app useful, but lender, naturally will form the bulk of the third parties. However, there are other entities, such as, for example, landlords wishing to have comfort on a renter’s credit worthiness

[Pave]

So, every lender out there can get the access to my data?

No, Pave is committed to approve all the third parties desiring to use the GCP. Only then are those parties considered as ‘Validators’ in the Pave blockchain

[R_Oliver]

so when the  ico?

[Pave]

It says in the WP that third parties can access users’ data on ‘unsolicited’ basis, so, doesn’t it entail a whole lot of unwanted spam?

No, if it is indeed unwanted. See, the users will actually be rewarded for letting third parties market their products to them. If he or she doesn’t want that, the privies are easily denied the access by users themselves

[Pave]

so when the  ico?

In less than a month.

[Pave]

Like the design

Thanks, it was meticulously worked on

[Pave]

Haw do you see you future?

This can be seen in the ‘Roadmap’ segment on our official website

[dart_w]

so, in the case of gcp, whom the lenders are going to trust - people or data providers?

[Pave]

Why do you need blockchain for getting the GCP work?

See, until today, centralized record keeping agencies have been a necessary part of the consumer credit ecosystem throughout the world. While these centralized systems have provided a much needed service and acted as the “sources of truth” between third parties, they have also given rise to the systemic issues described herein. The innovations brought on by the blockchain have enabled us to distribute data across many nodes, and therefore distribute that trust. This can act as the new source of truth and remove our necessity to rely on any one institution.

[Pave]

why would lenders distrust people directly?

Well, it would be perfect world if everybody always told the truth. Most lenders opt out from trusting the users and instead resort to credit bureaus services because it is much more difficult to trust the user as they have a reason to be untrustworthy and, more often than not, little to lose if they are discovered.