Topic: [ANN] SmartPesa Credible (Read 18410 times)

Hi, Thank you for asking. Yes definitely. we had great time in Singapore in Tech Finance Asia 2019 event on Blockchain and Payments. To know more, please join our social media channel to stay updated. Thank you.
join us on telegram group: https://t.me/crediblenetwork

Is there any development?
Is this project on hold? For how long?

Does team still plan to continue it?

Great project with some very smart branding to "Credible" of their core product which is decentralized credit scoring competitor to Experian and similar credit bureaus.

A quick question, What should happen with the tokens not sold during a given phase?

$5m, $18.5m, $18.5m

Sure - best to join the Telegram group (https://t.me/crediblenetwork) or ask your questions here. 

What's the soft cap and hard cap, how much you plan to raise?

I was just going through your official website and I found it more reliable but I have a question Will each of the team member and advisors will be interacting with the community So that If I need some help I can interact with them.

"After discussing with our private investors, we are deferring our crowd sale due to the continuing bear market in cryptocurrencies.  Decision as to when to proceed with a crowd sale will be based on the overall cryptocurrency market and in consultation with our supporters.  

Development on Credible will continue according to our roadmap.  

We will ensure that all those who have signed up to the whitelist will receive a special bonus during the future token sale as our way of thanking our long term supporters and community.

Stay tuned to our Telegram group & website for more updates."

Website: https://www.crediblenetwork.io/

Join our Telegram Group: https://t.me/crediblenetwork

Hi Tom

Discounts and pricing is competitive when benchmarked against the projects that are closest to our project, such as Pundi X, Civic and Bloom.  The discount levels are set to reward early investors and those with relatively high investment values.

May I know, How were provided discounts determined? How the discounts incentivize investors?
thank you

'WARNING:  Scammers are active.  We are NOT currently running an Airdrop.  Only look at our official channel : https://t.me/crediblenetwork  and at our website: https://www.crediblenetwork.io/ "

That's a really great news, credible has been listed on findico listing site.

Hi everyone! Just added this incredible ICO to my website   https://findico.io/ico/credible-network   Findico.io is a free ICO listing and rating platform. Blockchain community supported by a wide range of experts. Airdrops, Bounties, Exchanges, ICO services and many more.

Hello Suke, Thank you so much for your suggestion, but would like to inform you that we will organize the Bounty Program. For now it is under discussion, So advice you to stay tuned with us for further announcements or Join our official telegram group for instant updates- https://t.me/crediblenetwork

I hope that you immediately start bounty campaign, this will really help spread the word about your project. Besides that, it will also help increase followers' social media accounts. the more followers will the more convincing your project. I see now that the Credible twitter account only has 116 followers, I think it's not good

2018 Singapore Blockchain Summit will go live in less than 24 hours. Come join us in the discussion of the future of Blockchain and cryptocurrency markets.

What are the precautionary measures to ensure scammers will not be able to mislead investors into sending coins to the wrong address?

Cryptocurrencies have had a difficult 2018. Mr. Barry will be discussing his views at the Blockchain Summit 2018 on the long-term future of cryptocurrency market.
Event:
2018 Singapore Blockchain Summit
28 August 8:30 AM to 6:00 PM
Suntec Convention Centre Level 3
1 Raffles Boulevard, Singapore
blockchainsummitsingapore.com

The pre-sale has not yet started.  For latest information and to complete the whitelisting, go to https://www.crediblenetwork.io/#tokenSale

What is your total addressable market and what do you estimate is the max share your network will take?   

does your pre-sale has been started, if yes then How can I participate in the Token sale?

The tokens will be used to buy / sell data and reports, used as collateral, used for payments and within the Crypto ATM.  Please see white paper for detailed description as well as the 'Token Use' section of our website at https://www.crediblenetwork.io

We will have a bounty campaign but we have not yet determined the starting date.  When we do have a firm date we will announce it through the Telegram channel as well as here.

When bounty campaign strated?

In the credible network, what will the use of tokens, and how it will circulate in the community? Looking forward to your answer...

The best resource for total market opportunity is the SME Finance Forum (https://www.smefinanceforum.org/data-sites/msme-finance-gap) and the IFC (https://www.ifc.org/wps/wcm/connect/Industry_EXT_Content/IFC_External_Corporate_Site/Financial+Institutions/Priorities/SME+Finance/)

The key report to review is https://www.smefinanceforum.org/sites/default/files/Data%20Sites%20downloads/MSME%20Report.pdf

The total number of MSMEs with funding shortfalls is 65 million.  This represents the number of enterprises that find it difficult to obtain financing through regular channels and so off the radar of most banks and credit bureaus.

Our initial focus on launch is on the Philippines where the number of MSMEs is over 816,000 with a total funding gap of $221.8b.  We expect to have a high penetration since the alternatives for these institutions are not there by definition (or there would not be a funding gap).

With the Token Sale, we will be launching the product to over 50,000 merchants.  But that is only us.  It does not include other TEAs (full nodes) and we have partners now in Africa and South America too.

is the only global distributed register for storing business credit data on a block chain.

What is your total addressable market and what do you estimate is the max share your network will take? Thank you in advance.

Hi TimLouise

All sales of tokens will be be done on our secure platform and each purchaser will be asked to complete KYC steps.  As part of the steps, the purchaser will log his/her address for receiving the PESA tokens.  Purchasers are able to log into the platform and ensure their addresses are correct and each purchaser will be encouraged to do so before the token generation event happens.

We will never accept addresses using instant messaging, email or any other channel since we cannot be certain the purchaser is who they claim to be.

You are right that we have been somewhat quiet -- too quiet actually and we will change that to showcase more.  We've been spending a lot of time of the tech as well as talking to token purchasers as part of the private round.

We have a small testnet up and running and the public can interact with it.  We have set it to being open whereas in the implementation it will be a permissioned network.  As a result, the change controls are not in place for this testnet.

See: http://credible-1.testnet.smartpesa.com/credible-wallet-proto/explorer.htm
Wallet: http://credible-1.testnet.smartpesa.com/credible-wallet-proto/wallet.htm

When testnet will go live if that is already live and working than please share the link to test this platform. Roadmap showing it will be get launched in current month but there is no activity on social media channels and hard to know what is current status of this project?

We have some institutional backers -- Panquita, Elticap and Icarus Feather

Hello Barry, Kindly let me know What are the precautionary measures to ensure scammers will not be able to mislead investors into sending coins to the wrong address?
What will be your steps or precaution to prevent from them?

That's great, btw Is the product is backed by any VC firm?
[/quote]

We have some institutional backers -- Panquita, Elticap and Icarus Feather

That's great, btw Is the product is backed by any VC firm?

No we don't borrow to hit the soft cap.  By 'lenders' I meant companies who want to use Credible for their lending businesses.  So we know there is demand for the Credible solution.

what that mean lenders 
do you borrow funds to hit softcap actualy?

Hi CryptoVictorC

Thank you!  Yes if we are unable for whatever reason to not raise the minimum then we will return all invested amounts.  We don't see there being a problem getting past the soft cap though since feedback from lenders we have been speaking with is they would absolutely love to have Credible and will definitely use it.

Hey Very good project, excellent team. Please tell me, Is the amount invested will be returned if the minimum cap isn't reached by the end of the pre-sale or ICO?

Thanks for your support!  We are in private sale and we have some good support.  We are also bringing on partners to add to and use the blockchain and have some exciting announcements in the pipeline.

After all we know from FB, Google and others how valuable data is and there is none more valuable than credit data

very profitable, hopefully this project will grow rapidly and all tokens are sold out, success in the future, can you tell the progress of this project friend? I will highlight further.

The Credible project as done by SmartPesa is unique in that it brings together:
1) KYC information
2) Cash flow and other financial information
3) Crypto payments and Crypto ATM
4) Fiat payments and fiat ATM


The other projects have elements (e.g. Civic for KYC), but they lack the synergy between the different uses. 

KYC is needed for payments and payments are needed for cash flow information.  So any project that is just on one side does not have the benefit of synergies.  Only Credible has this.

What makes it different from similar projects?

Thanks!  We agree

We need to walk a very conservative line, legally speaking. Firstly since the tokens are utility tokens there are no dividends or other rewards; and per legal advice I cannot comment on progress on discussions with exchanges.  The team will continue to work in the best interests of the token holders in terms of liquidity and options - after all we will be token holders too! 

We accept BTC, ETH, HT and BNB for token sale settlement.

In terms of underlying value -- we know from the market values of the listed credit bureaus (equifax etc) that the value of credit data is worth billions of dollars.   So this proves actual need in the real world for the kind of data that will be on Credible.  The number of tokens will never increase while the size and quality of the database will only increase over time.  There is thus a strong economic logic for and ecosystem that has rising demand with constant token supply.

I hope that all tokens will be sold out quickly, there is no need for tokens to burn, team spirit in disseminating this very good project, good job and ganbate.

Very fashionable project, you walk on the right road, do you have any other reward plan besides signature plan, and what's the progress of your exchange?COINS are valuable only in circulation

Any unsold tokens at the close of the token sale will be burnt.

That's great , Well What you will do with the remaining tokens?

Hi Maxxbill

We are running our token sale from Singapore and not from the US where the SEC has jurisdiction.  We chose Singapore since this is the headquarters of SmartPesa and Credible will be deployed in the emerging markets of Asia, Africa and South America.  Since there is no immediate plan to deploy into the US and the cost of registration (especially legal fees) is extremely high, we have not pursued an SEC registration or exemption. 

We do have written guidance from our legal council that we are in compliance with the laws and regulations of Singapore.

It is an extremely encouraging task, Many of the CEOs of the venture does not react to their locale but rather here's truly something incredible. Well, I have a question in my mind, Does your ICO fall within SEC jurisdiction? Are you SEC compliant?

Thanks Amaara89

The source code including the testnet can be found on our Github page at https://github.com/smartpesa

It's an extremely decent undertaking which will upset the managing an account/Finance industry without a doubt.
Can you please tell me Where can I find the source code?

Hi TimLouise

Good question. 

In developed markets we have credit bureaus - the big three are called Equifax, Experian and TransUnion, which are multi-billion dollar listed companies.  Equifax came under a lot of press coverage last year when they lost the data of 143 million people and businesses, risking their identities being stolen.

The centralised model has many problems, the most significant being:
1. You are exposed to data breaches - your data is only as good as the security of the bureau
2. No easy way to improve your credit score or sometimes even know what it is
3. The bureau makes money when they sell your data, not you
4. Data is fragmented and is often not even the same between bureaus - there is no single location of 'truth'
5. Usage is limited to whatever products the credit bureau has developed

Credible decentralises and improves the model across all these factors:
1. You control the keys to your records
2. Complete visibility as well as the ability to add new information.  Your data becomes your own asset to manage
3. You make money from your data
4. One source of truth
5. Decentralised collection, consumption and use of data.  Anyone can build new exciting use cases on top of the blockchain and monetise for their benefit and the benefit of merchants

Hope this answers your question!

Hello Team, Is your service already offered by a centralized entity? If yes, How does decentralizing make it better?

The project is a corporate entity - specifically a Singapore incorporated private limited company (Pte Ltd)

Thank you Barry for your answer, But I have another doubt Is your ICO project structured as a corporate or non-corporate entity?

Thank you for your support.  We have a number of exciting announcements scheduled shortly on both the partnership and technical side so stand by for that.  We are also finalising an updated website, videos and other materials to communicate Credible better.

Hope to hear your feedback on our coming relaunch!

Hello, team. What is the update of smart Pesa project?  This project seems very interesting to me especially for SME business owners. Hope you could bring this project to different countries and expand its marketing as well. Your team composed of highly experienced professionals so I know this project is deserved to be well known. 

Thank you @Mani for showing your interest in our project.

We use BitGo Enterprise and the receiving wallets have been locked down.  The board is responsible for all aspects of the token sale including refunds.  All members of the board are resident in Singapore and the company is also a Singaporean company.

I think this project is very good and also have a good idea and handled by an experienced team, may be a successful project in the future, good job.

What are the precautions you have taken to protect from hacking? Who is responsible for refunds of the investment is there is a problem?

The token cannot be returned to the company.  We believe there is sufficient demand in usage within the community to support liquidity naturally.

The only limitations are on staff (2 year lock up), advisors (6 month lock up) and on some early investors too.  The remainder of the tokens do not have any limitations.

Can you return the token to the company and receive a refund? Can the token be resold and are there limitations to the power to resell?

SmartPesa Credible puts business credit data onto the Blockchain in a way that is private and owned by Merchants. Data is valuable. Especially for SME businesses who struggle to obtain financing due to a lack of trustworthy credit data. Approximately 40% of all SMEs cannot obtain access to vital credit: a funding gap of over $5.2 trillion per annum. That is why we have created SmartPesa Credible ("Credible"). But unlike traditional credit bureaus who look to monetize other people’s data, Credible gives ownership and control directly to the merchants themselves. They get paid for their data and they can opt out of the system altogether. All payments are in PESA tokens.

Credible puts the token at the heart of the ecosystem with both demand (requestors) and supply (data providers) participating actively in the token exchange. All transactions across Credible take place in SmartPesa Credible Tokens (PESA). Merchants receive Tokens from 3rd parties for accessing their data. Merchants pay Tokens to Verifiers for attestation, and pledge tokens as collateral for loans. Investors can Buy and Sell Tokens through SmartPesa CryptoATM at their nearest Merchant.

At SmartPesa, we are driven by Financial Inclusion. Our SmartPay and Agency Banking solution was developed for EM countries by the co-founders who were born in and grew up in Africa. Still considered a FinTech startup, we are in our 5th year of operations and complete tens of
thousands of transactions daily across over 8,000 merchants in 5 countries. We have completed formal certifications with international organizations such as EMV, Visa, Amex and Mastercard; National Financial switches such as Bancnet, NIBSS and MEPS; PCI compliances; and successfully undergone numerous API integrations with 3rd parties. We support all local and international cards, Apple Pay, Samsung Pay and Google Pay as well as
leading wallet providers like Alipay and WeChat Pay.

Credible provides for Trusted Escrow Agents (TEAs) who facilitate real-time access to the Blockchain data on behalf of Owners. All applicant TEAs need to subscribe to the Credible governance framework in order to become a full member of the permissioned network and
once approved, all TEAs have equal status within the Blockchain and each operates a full node. The purpose of each TEA is to operate as a service provider to facilitate access to the Blockchain on behalf of its Owners.

SmartPesa is developing Credible, a new Blockchain network to address the funding gap by providing a distributed infrastructure to share EM SMEs data. It is the only global distributed ledger to store identity, financial and transactional data on the Blockchain and to provide
comprehensive credit scoring for lending activities. The new Blockchain enables SmartPesa and the community to innovate with: Artificial Intelligence, algorithm-driven credit scoring, big data analytics, graphing, transaction and loan
analytics and Banking APIs.

In SmartPesa All payments for data creation, validation and accessing of data SmartPesa Credible blockchain is settled in PESA tokens (“Tokens”). For example, payment for access to Merchant data is settled in Tokens Merchants while Merchants can use Tokens Data Origination and Validation services. Merchants can also pledge Tokens as collateral or sell using the SmartPesa CryptoATM.

Pre-ICO Starts from 15 Aug2018 to 30 Aug2018 And ICO Crowdsale will start from 15 Sep 2018 to 15 Oct 2018.

When i will get tokens after ico or on real-time basis?

Pre ico and ico dates?

Yes, m agree with u, I had gone through the whitepaper its very interesting, and the team members are well experienced.

More than a buzzword, read what our CTO & Co-Founder Thorsten Neumann has to say about blockchain and why it is essential to Smartpesa Credible.
Click  here to read full article and learn more about us:- https://medium.com/smartpesa/blockchain-makes-credible-credible-23ca551ca962

A Good News For All Our Chinese and Japan Member.
For the better clarity on our project, we have localized our whitepaper.
Chinese: https://files.smartpesa.io/public/Smartpesa+Credible+Whitepaper+Mandarin+(Latest).pdf
Japanese: https://files.smartpesa.io/public/Smartpesa+Credible+Whitepaper+Japanese+(Latest).pdf

Hope you all are doing fine, kindly have a look,  Barry Levett presenting outline of Credible at Artchain Global meetup on 10 June 2018 at Found in Singapore. Share your thoughts over this video and kindly follow our youtube channel.
Click here to watch video - https://youtu.be/cpSM4Ofd_cg

Yes our soft cap is 5 Millions USD and Unsold tokens will be burn.

Does your ICO have a softcap requirement and what happens to the unsold tokens will they get burnt?

Blockchain is used for recording the credit data. Credible secures the data and owner of the private key manages all data. The token model becomes very clear: the requestors of data pay to the owners for their data. This removes the middle men being the multi-billion dollar credit bureaus

Credible is its own blockchain network for decentralized storing of credit data.
Our CTO explains the design and network in his Medium article https://medium.com/smartpesa/introducing-smartpesa-credible-18a530f112ff

Many thanks for your support.  The currency used for buying and selling data and all other transactions within Credible will be in PESA tokens. 

If you want more information on the token sale please do see smartpesa.io.  The tokens during this sale will be priced in USD ($0.09 each).

I think this project is very interesting, project with experienced teams, I'm sure your project will be a big success, I want to ask what currency is used in your project?

We are building on Tendermint, a proof-of-stake BFT protocol focusing on the networking and concensus layers.

Three main reasons behind this decision: speed, security, scalability. Tendermint blocks can commit to finality in the order of 1 second and handle transaction volume at the rate of 10,000 transactions per second for 250 byte transactions. The bottleneck shifts to the application layer. https://github.com/tendermint/tendermint/wiki/Introduction

Our database layer interface is through the Tendermint Application BlockChain Interface (ABCI) - https://github.com/tendermint/abci - where the application layer focuses on storing and managing the ownership of the encrypted credit data. This is where we layer the RPC logic, and ontop develop Explorer and interfaces like dApp (brower with Credible JS driver, mobile SDKs, etc).

As we have started R&D on building SmartPesa Credible, our project is listed in Cosmos & Tendermint Ecosystem entry #40 - https://forum.cosmos.network/t/list-of-projects-in-cosmos-tendermint-ecosystem/