[MCC] MyCreditChain - Building Trust with Your Data

[miakaplan3]

You have much partners on behind. i think you can run your ICO with nice start there , but I’m not sure cryptocurrency its already legal on South Korea ?

[cchub]

Whoever buys MCC has no idea how credit markets work. There is no need for a token and besides private blockchains can do it for free (no token needed). Why would any financial institution want to buy it?

[MCC_Matthew]

Hi !

Thank you for your interest.

To answer your question,

You have much partners on behind. i think you can run your ICO with nice start there , but I’m not sure cryptocurrency its already legal on South Korea ?

==> Regarding that, the Korea government is more willing to see situation than take preemptive action.
But, there are many speculating about the possibility of allowing ICOs recently. MCC team also look forward to have good news in Korea.
By the way, currently we have no issue to proceeds ICO.

If you have more suggestions for MCC, please feel free to comment here or our Telegram chat.

Thanks again!

Website:  http://mycreditchain.org/
download: http://mycreditchain.org/paper/MycreditChain(MCC)_whitepaper_en_v1.5.pdf
Medium:   https://medium.com/mycreditchain
Facebook:https://www.facebook.com/mycreditchain

[MCC_Matthew]

Hi !

Thank you for your interest.

To answer your question,

Whoever buys MCC has no idea how credit markets work. There is no need for a token and besides private blockchains can do it for free (no token needed). Why would any financial institution want to buy it?

==> The reason why ordinary people have no idea how credit market works is that, centralized institution managed credit by its own assessment.
Credit is a Basic Right. Blockchain based Credit Ecosystem, MyCreditChain and our platform will enable a new relationship among people, which will further develop new form of financial activities. It brings about a major innovation in credit information that a person's credit data will become an asset for himself/herself. Also we plans to bring the ownership of credit data back to individuals so that they can have a full control over their own information, thus building a more equal society. As a result, existing financial institution would buy personal data through MCC platform with token.

If you have more suggestions for MCC, please feel free to comment here or our Telegram chat.

Thanks again!

Website:  http://mycreditchain.org/
download: http://mycreditchain.org/paper/MycreditChain(MCC)_whitepaper_en_v1.5.pdf
Medium:  https://medium.com/mycreditchain
Facebook:https://www.facebook.com/mycreditchain

[MCC_Matthew]

Hi !

Thank you for your interest.

To answer your question,

Consumers have little knowledge or control over how the company will use personal information and are not able to prevent the secondary use of personal information. It is difficult for individuals to take reasonable actions and to protect their own information due to the lack of information, limitations of information literacy and various cognitive and behavioral biases.

==> I absolutely agree with you. As you already have mentioned, 'It is difficult for individuals to take reasonable actions to protect their own information due to the lack of information' . Currently, we don't know how our personal information being used. In that point, MCC will bring back our ownership on credit information to people.
If you have more suggestions for MCC, please feel free to comment here or our Telegram chat.

Thanks again!

Website:  http://mycreditchain.org/
download: http://mycreditchain.org/paper/MycreditChain(MCC)_whitepaper_en_v1.5.pdf
Medium:  https://medium.com/mycreditchain
Facebook:https://www.facebook.com/mycreditchain

[mootbritton7]

Although credit data is all about individuals, most individuals do not own the data. The data is stored in the servers of hundreds of financial institutions, and each rating agency evaluates individuals through its own evaluation criteria. And it's time to change!

[MCC_Matthew]

Hi !

Thank you for your interest.

To answer your question,

Although credit data is all about individuals, most individuals do not own the data. The data is stored in the servers of hundreds of financial institutions, and each rating agency evaluates individuals through its own evaluation criteria. And it's time to change!

==> Yes. Most of data collected in a traditional way is historical data, so a structure that is difficult to immediately reflect the changing information at the moment. Although there are a number of data sets to express one’s credit better, it is too limited that only relying on traditional methods to evaluate the credit. As you said, i totally agree with "Now it's time to change!"

If you have more suggestions for MCC, please feel free to comment here or our Telegram chat.

Thanks again!

Website:  http://mycreditchain.org/
download: http://mycreditchain.org/paper/MycreditChain(MCC)_whitepaper_en_v1.5.pdf
Medium:  https://medium.com/mycreditchain
Facebook:https://www.facebook.com/mycreditchain

[cchub]

Hi !

Thank you for your interest.

To answer your question,

Whoever buys MCC has no idea how credit markets work. There is no need for a token and besides private blockchains can do it for free (no token needed). Why would any financial institution want to buy it?

==> The reason why ordinary people have no idea how credit market works is that, centralized institution managed credit by its own assessment.
Credit is a Basic Right. Blockchain based Credit Ecosystem, MyCreditChain and our platform will enable a new relationship among people, which will further develop new form of financial activities. It brings about a major innovation in credit information that a person's credit data will become an asset for himself/herself. Also we plans to bring the ownership of credit data back to individuals so that they can have a full control over their own information, thus building a more equal society. As a result, existing financial institution would buy personal data through MCC platform with token.

If you have more suggestions for MCC, please feel free to comment here or our Telegram chat.

Thanks again!

Website:  http://mycreditchain.org/
download: http://mycreditchain.org/paper/MycreditChain(MCC)_whitepaper_en_v1.5.pdf
Medium:  https://medium.com/mycreditchain
Facebook:https://www.facebook.com/mycreditchain

And why would any lender trust this credit information (or credit data) if I could do adverse selection of credit data? If I am the owner of the data, I can select which data I give by faking a good credit data, regardless of defaulting off-chain or not. As debtors are not obliged to do all credit through MCC they will be able to do such adverse selection.

[MCC_Matthew]

Hi !

Thank you for your interest.

To answer your question,

Whoever buys MCC has no idea how credit markets work. There is no need for a token and besides private blockchains can do it for free (no token needed). Why would any financial institution want to buy it?

==> The reason why ordinary people have no idea how credit market works is that, centralized institution managed credit by its own assessment.
Credit is a Basic Right. Blockchain based Credit Ecosystem, MyCreditChain and our platform will enable a new relationship among people, which will further develop new form of financial activities. It brings about a major innovation in credit information that a person's credit data will become an asset for himself/herself. Also we plans to bring the ownership of credit data back to individuals so that they can have a full control over their own information, thus building a more equal society. As a result, existing financial institution would buy personal data through MCC platform with token.

If you have more suggestions for MCC, please feel free to comment here or our Telegram chat.

Thanks again!

Website:  http://mycreditchain.org/
download: http://mycreditchain.org/paper/MycreditChain(MCC)_whitepaper_en_v1.5.pdf
Medium:  https://medium.com/mycreditchain
Facebook:https://www.facebook.com/mycreditchain

And why would any lender trust this credit information (or credit data) if I could do adverse selection of credit data? If I am the owner of the data, I can select which data I give by faking a good credit data, regardless of defaulting off-chain or not. As debtors are not obliged to do all credit through MCC they will be able to do such adverse selection.

Firstly, personal and credit information cannot be edited even by the owner. MCC network collects and stores only objective information obtained directly from financial and public institutions by automatic procedure.

Also, MyCreditChain aims to provide that service for the whole globe. Bank issue could be simple. Currently South Korean lawmakers are preparing constitutional amendment that establishes personal information right to be the fundamental right. Personal information right is about each individual’s right to decide how their personal information used.

That is exactly what MyCreditchain is aiming to provide. Banks have been prone to hacking. They have been losing tens of millions of personal information of their customers. Blockchain can solve the problem because MyCreditChain’s decentralized data structure does not have a point of attack.

[samwellingm3]

Anyone could tell me, do you guys have any prototype of concept for this?

[MCC_Matthew]

Hi !

Thank you for your interest.

To answer your question,

Anyone could tell me, do you guys have any prototype of concept for this?

==>
To answer your question, Yes. Our project is based on Data scrapping technology and credit scoring model accounting non-financial data.
In addition, We are already providing this concept of technology for major banks in South Korea.
If you need further information you can check it from links below, and please feel free to comment here or our Telegram chat.



If you have more suggestions for MCC, please feel free to comment here or our Telegram chat.

Thanks again!

Website:  http://mycreditchain.org/
download: http://mycreditchain.org/paper/MycreditChain(MCC)_whitepaper_en_v1.5.pdf
Medium:  https://medium.com/mycreditchain
Facebook:https://www.facebook.com/mycreditchain

[zoe111]

I see that your project has a strong and well coordinated team, so there are very high chances of your success! In addition, the high-quality implementation of your project inspires confidence! Great to know that the team is doing everything possible to get more, good luck and good work!

[MCC_Matthew]

Hi !

Thank you for your interest.

To answer your question,

I see that your project has a strong and well coordinated team, so there are very high chances of your success! In addition, the high-quality implementation of your project inspires confidence! Great to know that the team is doing everything possible to get more, good luck and good work!

==> Thanks for cheering up! We will move forward with great team and great project!

FYI, 
MyCreditChain raises 3 million dollars of seed money : https://medium.com/mycreditchain/mycreditchain-raises-3-million-dollars-5d1251b70511
MyCreditChain rated 4.4 from the ICO Bench: https://icobench.com/ico/mycreditchain

If you have more suggestions for MCC, please feel free to comment here or our Telegram chat.

Thanks again!

Website:  http://mycreditchain.org/
download: http://mycreditchain.org/paper/MycreditChain(MCC)_whitepaper_en_v1.5.pdf
Medium:  https://medium.com/mycreditchain
Facebook:https://www.facebook.com/mycreditchain

[mlrdcoin]

but can you find out more about your campaign bounty? what percentage, how will the parts be distributed and which species will or already exist?

[delcastillo1]

What is special about MyCreditChain Credit Information?

[MCC_Matthew]

Hi !

Thank you for your interest.

To answer your question,

What is special about MyCreditChain Credit Information?

==> To know a person and to gauge his credit worthiness, MyCreditChain is looking at first his objective personal credit information. However, that is not enough. When we say we know a person, the most important information is ‘who are the people around the person.’ If I know your friends and families, would you try to cheat me? Your reputation is at stake. Our airdrop system is about mapping a user personal network.
If you have more suggestions for MCC, please feel free to comment here or our Telegram chat.

Thanks again!

Website:  http://mycreditchain.org/
download: http://mycreditchain.org/paper/MycreditChain(MCC)_whitepaper_en_v1.5.pdf
Medium:  https://medium.com/mycreditchain
Facebook:https://www.facebook.com/mycreditchain

[damiansmith1]

How can we make money on MCC network? And when? Who buys tokens after launching service? Are you working now with potential corporate buyers who need tokens for their business?

[MCC_Matthew]

Hi !

Thank you for your interest.

To answer your question,

How can we make money on MCC network? And when? Who buys tokens after launching service? Are you working now with potential corporate buyers who need tokens for their business?

==> Everyone in the network makes money. First from selling their information and second from MCC airdrop.

First, you must understand that personal information is most valuable information that runs economy. Everything we produce is to satisfy our needs and our preference. Personal information is the basic market information to find the consumers. Google, Amazon and Facebook are making great profit just because they have the big data to calculate everyone’s preference.

MyCreditChain will become the big data of personal information where the users themselves sell their own information. Every company wants that information.

MyCreditChain is the marketplace of personal information, but it is also a marketplace for product marketing as well. Users will be paid to view Ad from companies.

The Key here is to increase the user base to create the big enough data base. Our airdrop is totally designed for the mission. Airdrop of 10,000 tokens via gift giving with seed will make the user base grow tangentially. After all, all users will make money out their own information.

We are living in the age of Global Internet connection. People need credibility information to trade in the global world. MyCreditChain is designed to provide that information of objective personal data as well as people network information. MyCreditChain is the infrastructure of human interaction in the global level. MyCreditChain token will have tremendous value.

If you have more suggestions for MCC, please feel free to comment here or our Telegram chat.

Thanks again!

Website:  http://mycreditchain.org/
download: http://mycreditchain.org/paper/MycreditChain(MCC)_whitepaper_en_v1.5.pdf
Medium:  https://medium.com/mycreditchain
Facebook:https://www.facebook.com/mycreditchain

[miakaplan3]

The problem is, “how does the bank accept it?”
I want ask a question about the banks and the old power.... How MCC will handle it?

[MCC_Matthew]

Hi !

Thank you for your interest.

To answer your question,

The problem is, “how does the bank accept it?”
I want ask a question about the banks and the old power.... How MCC will handle it?

==>
Banks already have the people’s personal credit information in their market. But as the fintech grows, there are new competitors coming into the market. P2P loan platforms is popping up everywhere. MyCreditChain will provide information for them.

MyCreditChain itself is a financial market place.

Would you want to get a loan from your local bank for 10% interest rate or from a P2P bank for 2% interest rate from Europe or US? The issue today is that there is no standard for credit rating across the globe.

Blockchain Cryptocurrency has solved the currency issue across the globe.

Now banking across the globe is possible if there is a platform that can gauge each person’s credibility across the globe. MyCreditChain looks at objective personal credit information which varies depending on the country. Humans are social creature and the nature of human network is pretty much same for everybody. MyCreditChain incorporate that information which is universal in all human. That is why MyCreditChain can become the global measure for credibility and means for trust building.


If you have more suggestions for MCC, please feel free to comment here or our Telegram chat.

Thanks again!

Website:  http://mycreditchain.org/
download: http://mycreditchain.org/paper/MycreditChain(MCC)_whitepaper_en_v1.5.pdf
Medium:  https://medium.com/mycreditchain
Facebook:https://www.facebook.com/mycreditchain