Quote from: TimeTeller on June 22, 2017, 12:19:39 PM

Quote from: everex_one on June 20, 2017, 02:33:38 PM

Quote from: Alexila on June 20, 2017, 03:30:53 AM

Quote from: TimeTeller on June 20, 2017, 12:45:55 AM

I'm just wondering how you will evaluate the credit score of these more than 2 billion individuals without a bank account?
And how can they access your microcredit services if some of them don't own smartphones?
Remember that maybe a lot of them are living in very remote areas that they don't even know what smartphones are.
I'll wait how you address those bottlenecks. The objectives are great but how you implement is back-breaking.

Thank you for your questions. I'll be happy to answer as I'm sure more readers would like to know the same

1... how you will evaluate the credit score of these more than 2 billion individuals without a bank account?

we use 2 main data feeds. 1) Transaction records from remittance and payments made within our wallet, which is publicly accessible from Ethereum via our Ethplorer.io blockchain reader, filtered by specific cryptocash currency symbol, e.g. THBEX, and 2) smartphone data, from the model to the information that user allows to access when installing the app. Those two feeds have quite a number of metric points that we analyze to make lending decision. Also, once first loan is paid, the credit line increases, and so forth. This allows underbanked to build own credit history on public transparent blockchain.

2. And how can they access your microcredit services if some of them don't own smartphones?

There are enough users who have smartphones, even in developing countries, and we focus our offer to them. The cost of basic Android phone is going down year by year, and if not next year but in 3 years most of the users will have ability to get a smartphone. Some users may share one smartphone between them, like some of our customers in Myanmar do.
Thank you.

Worth repeating!

Thanks for the answers to my queries. That's sufficient for now.
And that means, you can only evaluate one user's credit score once they used your platform.
This translates to a challenge of engaging the community or individuals to use your app. That's a big challenge though.

Yeah, but I think that's how all financial institutions started with their customers in a certain point. Even though now almost all institution are connected. Also the amount in risk for a loan to a new customer is going to be so small that is not worth not to repay