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Insights on MicroMoney

Oct 24, 2017 Posted /  3018 Views

Insights on MicroMoney

1. Purpose of MicroMoney

MicroMoney was established as a microfinance institution and has sharpened the business to become decentralized Open Source Credit & Big Data Bureau on blockchain. Since 2015, they provide individuals and SMEs with short-term loans as the best solution for their financial needs. MicroMoney uses innovative risk scoring powered by artificial neural network.

2. Mission of MicroMoney

The mission of MicroMoney are:

  1. Solving hunger and poverty by providing unbanked people with access to financial services and a possibility to build their first credit history on blockchain.

  2. Helping unbanked small entrepreneurs to grow their businesses by offering them online loans.

  3. Enable banks, financial companies, e-commerce, and retail businesses worldwide to efficiently scale and serve customers, who had no access to their services.

  4. Creating extensive micro-financing ecosystem by providing their franchise to local partners.

  5. Rising financial awareness among their clients by consulting services and educational materials.

  6. Enabling blockchain companies to efficiently scale their customer base by getting access to their open source Credit Bureau with millions of un(der)served people.

  7. Bringing financially excluded people to the new global crypto economy.

3. How does it work?

MicroMoney was established as a company focused on micro-financing in the money lending industry. They aim to provide the best solution to individuals and SMEs financial needs. MicroMoney is successfully operating in Cambodia, Myanmar, and Thailand, where their back office is located. They provide customers with online loans without any collateral requirements. Using machine learning algorithms, they can approve a loan in just 15 seconds, time-to-money they usually they try to make in 1 hour. Customers can get the money just by filling in the application form in their mobile app. After setting up our branch in Cambodia it took only 3 months to make the business profitable. Founded in 2016, MicroMoney Myanmar shows stable performance growth.

4. Reason for starting the token distribution campaign

MicroMoney is ready to go in 10 more markets. They have conducted all necessary research and have pre-agreements with their future local partners. Given that they have all the needed knowledge and resources, they will scale their business to Indonesia, Sri Lanka, Philippines, Vietnam, Malaysia, Singapore, China, Hong Kong, and Nigeria regardless Token Distribution results. Nonetheless, a successful Token Distribution campaign will allow to speed up planned expansion, capture additional markets, and develop their products and services more quickly.

5. AMM token

AMM token ​​based ​​on the ​​proven risk ​​management ​​and ​​Big ​​Data ​​platform. ​​The token is ​​a part of their ecosystem and is used inside it in different ways. The token serves as the fuel of the MicroMoney ecosystem and has been designed so that their customers will want to use it frequently. It is a token that can and should be bought on exchanges at prevailing market prices.

6. Token Distribution Structure

The Total Token Supply is 60,000,000 AMM, where AMM is the token name. Tokens that are not sold during the Token Distribution will be destroyed. The Token distribution will be in the pattern where the founders will get 8%, Advisors will get 4%, Bounty will get 4%, Token buyers will get  84%.

7. Providing solutions

MicroMoney will be providing solution to people by building Open source Credit Bureau on Blockchain, providing Big Data for Businesses and expanding it worldwide.

8. Providing Micro-loans

MicroMoney clients get immediate loans by applying online through a mobile app. No collateral or additional documents are required. MicroMoney grants short-term loans by using a pure-online model with no paperwork in 15 minutes.

9. Creating Reliable Credit Histories

MicroMoney enables clients with no credit record to take out short-term loans. MicroMoney enables clients to build and secure their credit records for future by blockchain-based credit record database.

10. The reasons for victory

As MicroMoney builds the decentralised Big Data & Credit Bureau, the ambitious and wide range blockchain project, the company is able to change the emerging markets’ finances allowing to cut the cost heavily and to make lending services available for 2 billion of unbanked people worldwide for the first time in their lives.

Note: Promoted Release.

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Tags: ico insights micromoney promoted

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