The current situation in the world shows that more than two billion people worldwide have little or no access to banking. And that is the key problem interrupting the process of economic development and combating poverty. People’s ability to take part in financial system results in opening business and educational opportunities, managing risks and financial emergencies.
MicroMoney Intl., a fast-growing global fintech and social lending services provider intends to solve this problem by focusing on big data solutions for banking and financial institutions. The company offers no-collateral paperless micro-financing to individual borrowers on the emerging markets, and opens access to the unbanked audience for banks, trade, and financial organizations.
Now the two-year-old Singapore-based enterprise is going to launch the world’s first blockchain credit bureau. It is currently conducting a $30 million token distribution campaign to accelerate its expansion and promote the financial inclusion of the world’s unbanked population. At this point, MicroMoney has partnered with ICOBox, a leading provider of fixed-price SaaS ICO solutions, who is assisting the MicroMoney team with technical, legal, and marketing sides of conducting a successful ICO campaign.
MicroMoney operations span Myanmar, Cambodia, Thailand, Indonesia, and Sri-Lanka, with a multilingual call center in Bangkok. The total value of the 85-employee strong company is currently estimated at $1.85 million. The credit scoring platform built by MicroMoney’s collects data from opt-in consumers’ cell phones which it then processes using AI algorithms and neural networks to produce a credit score. These aggregated credit scores are the cornerstone of MicroMoney’s new Blockchain Credit Bureau: once these credit profiles are shared with financial institutions, the previously unbanked people will be able to gain the benefit of using the much-needed banking services.
MicroMoney Co-Founder Anton Dzyatkovsky says:
“Credit profiles generated by MicroMoney offer our users and token holders the opportunity to be in charge of their financial standing and credit scores to gain access to a wide range of services they never had access to. We expect that this will have a hugely beneficial effect on their quality of life; our tools will also allow them to be in control of who gets to see their valuable personal data.”
ICOBox represents a premier provider of fixed-price SaaS ICO solutions, the first and the biggest new generation Blockchain Growth Promoter and Business Facilitator for companies seeking to sell their products via ICO crowdsales. The company has recently completed its own ICO with raising up to 3,900 BTC and now aims to be involved in conducting 800 ICOs of other projects over the next 12 months. Earlier this month it has added David Drake, one of the blockchain esteemed dignitaries, to ICOBox’s advisory board. Among the companies to collaborate with ICOBox is INS, a decentralized ecosystem enabling consumers to buy directly from grocery manufacturers, REGA Risk Sharing, the developer of the world’s first blockchain-based сrowdsurance platform, and Coinspaker as well.
As Mr. Dzyatkovsky comments:
“We are delighted that ICOBox, one of the best and most dynamic and knowledgeable blockchain growth promoters and business facilitators, agreed to help us conduct our token distribution campaign and find the future supporters and users of our innovative product – without them MicroMoney could not fulfill its social mission.”
Nick Evdokimov, ICOBox Co-Founder is also optimistic about the company’s cooperation with MicroMoney:
“We are 100% behind MicroMoney’s social justice mission. ICOBox is thrilled to be helping MicroMoney launch its AMM token to further develop its toolbox and extend the financial services coverage to billions of the unbanked people around the world.”
MicroMoney’s AMM token distribution campaign launches on October 18, 2017 and will run for 30 days. Up to 60,000,000 AMM tokens with the par value of $1 will be issued, and all unsold tokens will be cancelled once the campaign concludes.
As Mr. Evdokimov adds:
“We have no doubt that MicroMoney’s token launch will be a hit: The company has a unique competitive advantage due to its proprietary sophisticated credit scoring platform, a massive high-demand market, the ever expanding need for its B2C and B2B solutions, and the established and sound business model”