Just read through your white paper and I'm wondering how you could possibly verify all the documents that students have to submit.
I'm posting images instead of quoting the text, since copying from the whitepaper gives me some really weird formatting issues.
https://i.imgur.com/1VPwJN4.pngWould you only be offering this in the US or also in other countries?
I also saw that the requirements of becoming a lender are quite impressive, to say the least:
https://i.imgur.com/wc6I9uY.pngAny reason why you have those requirements for lenders in place?
Answering your questions one by one
1. KYC verifications can be done via agencies who are doing KYC checks for local banks/passports. For example, In the US many private agencies check the SSN and validate user details. About the certificates, we are only processing loans to those people who are admitted to colleges/universities where we are associated. Universities/Colleges have to do the certificate verification, and they have a strong team who are already doing a good job.
2. At present, we are focusing on EU, India and a couple of other countries. We would launch in the US once the SEC has clear regulation about the security part of the crypto offering companies.
3. We do not want to raise funds from the public. The reason why we are only welcoming accredited investors because an accredited investor will have the financial sophistication and ability to sustain the risk of loss of investment. This is one reason why we are not doing an ICO. We believe that doing an ICO will bring money for the company, but that will not add value in the long run. We are only raising investment via private round and from individuals who can help us to reach the next level.
Please let me know if you have any more questions.
