Quote from: devollito on July 07, 2017, 11:16:25 AM

what is the different of this coin with suretly ? is the apps worked already or still not developed yet ?

Good question. Suretly is an interesting idea to help professional lenders in simplifying lending decision by supporting the borrower with vouching for him random people.
As professional collectors we already see that this project may turn to a dating app. (E.g. personally I'd more likely to vouch for a cute girl who needed some money, rather than for a dude). Plus having a "tinder" like interface I'm not sure, but wold love to be proven wrong.

It just gives collectors more options to collect (which is good for us, in fact we will be happy to collect for Suretly lenders) but will this result in acceptable default rates, is yet to be seen.

I wish them all the best, as we all need more financial dapps on the market and less of "pink elephants in a spaceships" with 100s of millions raised, which they don't need.

We, in fact, also will be using vouching system, only not from random strangers, but from from the closest Facebook friends of the borrower. This way if he pays back then,
1. he build his credit score
2. he gets rewarded wit EVX tokens (about 5% from paid interest, like a reward point)
3. his vouching friends are sharing another 5% worth of EVX tokens and building their credit history a bit by vouching for the good borrower.
If borrower does not pay back:
1. EVX tokens are taken from his wallet reducing his credit karma
2. EVX tokens are taken from his vouchers wallets,
3. We include vouchers in the collection calls politely suggesting to influence the borrower to be a good person and not angry Buddha but not paying back.