How will the user's credit score be calculated? Will the user have a credit passport? Will the information be collected from external sources? Thanks for any answer.
Varyg, credit score will be calculated with a number of factors.
- 1) They will have to be a registred users of the LAC wallet
- 2) They will have to have a history of usage on social media platforms. The more social media accounts we have and can analyze the data we can have an accurate assessment of the person so we can assign a higher credit.
- 3) We will analyze the sending, receiving and spending habits of people that have the LAC wallets that apply for loans.Government-issued ids will rank higher regarding transparency which will generate a higher score of credit ratings, but we do want to make available to people that dont have government forms of ids.
- 4) People that pay off loans in rapid fashion will increase their credit rating that.
Out of all the parts of the ecosystem that we need to get right, it is the p2p loans. As we want people to get loans but be able to handle them and also correctly assess people correctly so they can get the correct loans at the correct rates.
Thanks for your question.[/list]