[ANN] Credible Network

[TimLouise]

Hello Team, Is your service already offered by a centralized entity? If yes, How does decentralizing make it better?

[barrylevett]

Hello Team, Is your service already offered by a centralized entity? If yes, How does decentralizing make it better?

Hi TimLouise

Good question. 

In developed markets we have credit bureaus - the big three are called Equifax, Experian and TransUnion, which are multi-billion dollar listed companies.  Equifax came under a lot of press coverage last year when they lost the data of 143 million people and businesses, risking their identities being stolen.

The centralised model has many problems, the most significant being:
1. You are exposed to data breaches - your data is only as good as the security of the bureau
2. No easy way to improve your credit score or sometimes even know what it is
3. The bureau makes money when they sell your data, not you
4. Data is fragmented and is often not even the same between bureaus - there is no single location of 'truth'
5. Usage is limited to whatever products the credit bureau has developed

Credible decentralises and improves the model across all these factors:
1. You control the keys to your records
2. Complete visibility as well as the ability to add new information.  Your data becomes your own asset to manage
3. You make money from your data
4. One source of truth
5. Decentralised collection, consumption and use of data.  Anyone can build new exciting use cases on top of the blockchain and monetise for their benefit and the benefit of merchants

Hope this answers your question!

[Amaara89]

It's an extremely decent undertaking which will upset the managing an account/Finance industry without a doubt.
Can you please tell me Where can I find the source code?

[barrylevett]

It's an extremely decent undertaking which will upset the managing an account/Finance industry without a doubt.
Can you please tell me Where can I find the source code?

Thanks Amaara89

The source code including the testnet can be found on our Github page at https://github.com/smartpesa

[Maxxbill]

It is an extremely encouraging task, Many of the CEOs of the venture does not react to their locale but rather here's truly something incredible. Well, I have a question in my mind, Does your ICO fall within SEC jurisdiction? Are you SEC compliant?

[barrylevett]

It is an extremely encouraging task, Many of the CEOs of the venture does not react to their locale but rather here's truly something incredible. Well, I have a question in my mind, Does your ICO fall within SEC jurisdiction? Are you SEC compliant?

Hi Maxxbill

We are running our token sale from Singapore and not from the US where the SEC has jurisdiction.  We chose Singapore since this is the headquarters of SmartPesa and Credible will be deployed in the emerging markets of Asia, Africa and South America.  Since there is no immediate plan to deploy into the US and the cost of registration (especially legal fees) is extremely high, we have not pursued an SEC registration or exemption. 

We do have written guidance from our legal council that we are in compliance with the laws and regulations of Singapore.

[Amaara89]

It's an extremely decent undertaking which will upset the managing an account/Finance industry without a doubt.
Can you please tell me Where can I find the source code?

Thanks Amaara89

The source code including the testnet can be found on our Github page at https://github.com/smartpesa

That's great , Well What you will do with the remaining tokens?

[barrylevett]

It's an extremely decent undertaking which will upset the managing an account/Finance industry without a doubt.
Can you please tell me Where can I find the source code?

Thanks Amaara89

The source code including the testnet can be found on our Github page at https://github.com/smartpesa

That's great , Well What you will do with the remaining tokens?

Any unsold tokens at the close of the token sale will be burnt.

[katexuanzhuan]

Very fashionable project, you walk on the right road, do you have any other reward plan besides signature plan, and what's the progress of your exchange?COINS are valuable only in circulation

[iren squares]

I hope that all tokens will be sold out quickly, there is no need for tokens to burn, team spirit in disseminating this very good project, good job and ganbate.

[barrylevett]

Very fashionable project, you walk on the right road, do you have any other reward plan besides signature plan, and what's the progress of your exchange?COINS are valuable only in circulation

We need to walk a very conservative line, legally speaking. Firstly since the tokens are utility tokens there are no dividends or other rewards; and per legal advice I cannot comment on progress on discussions with exchanges.  The team will continue to work in the best interests of the token holders in terms of liquidity and options - after all we will be token holders too! 

We accept BTC, ETH, HT and BNB for token sale settlement.

In terms of underlying value -- we know from the market values of the listed credit bureaus (equifax etc) that the value of credit data is worth billions of dollars.   So this proves actual need in the real world for the kind of data that will be on Credible.  The number of tokens will never increase while the size and quality of the database will only increase over time.  There is thus a strong economic logic for and ecosystem that has rising demand with constant token supply.

[barrylevett]

I hope that all tokens will be sold out quickly, there is no need for tokens to burn, team spirit in disseminating this very good project, good job and ganbate.

Thanks!  We agree

[TimLouise]

What makes it different from similar projects?

[barrylevett]

What makes it different from similar projects?

The Credible project as done by SmartPesa is unique in that it brings together:
1) KYC information
2) Cash flow and other financial information
3) Crypto payments and Crypto ATM
4) Fiat payments and fiat ATM


The other projects have elements (e.g. Civic for KYC), but they lack the synergy between the different uses. 

KYC is needed for payments and payments are needed for cash flow information.  So any project that is just on one side does not have the benefit of synergies.  Only Credible has this.

[jan cok]

very profitable, hopefully this project will grow rapidly and all tokens are sold out, success in the future, can you tell the progress of this project friend? I will highlight further.

[barrylevett]

very profitable, hopefully this project will grow rapidly and all tokens are sold out, success in the future, can you tell the progress of this project friend? I will highlight further.

Thanks for your support!  We are in private sale and we have some good support.  We are also bringing on partners to add to and use the blockchain and have some exciting announcements in the pipeline.

After all we know from FB, Google and others how valuable data is and there is none more valuable than credit data

[CryptoVictorC]

Hey Very good project, excellent team. Please tell me, Is the amount invested will be returned if the minimum cap isn't reached by the end of the pre-sale or ICO?

[barrylevett]

Hey Very good project, excellent team. Please tell me, Is the amount invested will be returned if the minimum cap isn't reached by the end of the pre-sale or ICO?

Hi CryptoVictorC

Thank you!  Yes if we are unable for whatever reason to not raise the minimum then we will return all invested amounts.  We don't see there being a problem getting past the soft cap though since feedback from lenders we have been speaking with is they would absolutely love to have Credible and will definitely use it.

[rababo]

Hey Very good project, excellent team. Please tell me, Is the amount invested will be returned if the minimum cap isn't reached by the end of the pre-sale or ICO?

Hi CryptoVictorC

Thank you!  Yes if we are unable for whatever reason to not raise the minimum then we will return all invested amounts.  We don't see there being a problem getting past the soft cap though since feedback from lenders we have been speaking with is they would absolutely love to have Credible and will definitely use it.

what that mean lenders 
do you borrow funds to hit softcap actualy?

[barrylevett]

Hey Very good project, excellent team. Please tell me, Is the amount invested will be returned if the minimum cap isn't reached by the end of the pre-sale or ICO?

Hi CryptoVictorC

Thank you!  Yes if we are unable for whatever reason to not raise the minimum then we will return all invested amounts.  We don't see there being a problem getting past the soft cap though since feedback from lenders we have been speaking with is they would absolutely love to have Credible and will definitely use it.

what that mean lenders 
do you borrow funds to hit softcap actualy?

No we don't borrow to hit the soft cap.  By 'lenders' I meant companies who want to use Credible for their lending businesses.  So we know there is demand for the Credible solution.