[ANN][MicroMoney] The New Global Crypto Economy - page 97.

rdny

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Quote from: Katashi on November 14, 2017, 01:48:34 AM

Quote from: mongkie on November 14, 2017, 01:44:33 AM

Quote from: SHAWN-MIDWAYS on November 14, 2017, 01:26:05 AM

Hey OP will this be a problem for those of us that signup to receive tokens through orderbook ?

withdrawal is still available for non-verified users that is a good news. there is no problem.

Exactly i also heard this news, i think most of the exchanges and platforms are adopting this program nowadays. Coz since most of it are considered venturing to finances which is the goal is to avoid money laundering and other illegalities.

if exchanges are using KYC procedures, then wouldn't that be like going to a bank to be verified and subjected to checking. Isn't that the beauty of coins where in you can transact anonymously and freely without intervention from governments and costly fees and regulations from the banking sector. If you're being subjected to KYC, then that means that someone is watching over you're transactions and what not?

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Quote from: nelson4lov on November 14, 2017, 01:27:50 AM

Quote from: chillcott on November 14, 2017, 01:21:23 AM

hi devs and all the members of this thread! i have a newbie question since im new here, what is the credentials or requirements of micromoney if someone wants to borrow money? thank you

AFAIK, There are no requirements/collateral fir borrowing loans from MicroMoney. The team is building a micro-financing Platform without limitations. But be aware that the loans will not be much. But the loan amount will be increased with each successful loan repayment.

i see, so is there any scheduled date of payment if someone approve by micromoney?

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Quote from: Katashi on November 14, 2017, 01:42:21 AM

Quote from: chillcott on November 14, 2017, 01:32:53 AM

Quote from: jets567 on November 14, 2017, 01:27:13 AM

Quote from: chillcott on November 14, 2017, 01:21:23 AM

hi devs and all the members of this thread! i have a newbie question since im new here, what is the credentials or requirements of micromoney if someone wants to borrow money? thank you

hi there bro/sis, from what i know their platform will also be using KYC system. I think the requirement itself is to avail the token. But not that sure of the specific details. But it's a good question tho, how can you lend money to someone you don't even know.

yes! thats why im asking how it works. but i read on the first page that micromoney focuses on lending money without any collateral or paper documents.

Agree on you both but i also think in order for you to be lended by AMM it will take a corresponding amount of token you are holding and for sure it's via Smart Contract. I am 100 percent sure on the KYC policy coz this will be concerning on credits on finances so definitely there will be KYC policy.

Micromoney is doing business since 2015 in cambodia myanmar and other asian countries. the creditials need for borrower is listed on the whitepaper. yes kYC is the new program for cryptocurrencies and MT.Gox taught us to have that. btw, aside from lending, AMM also produce credit records to its borrowers for them to be accounted.

rdny

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Quote from: dev.samal84 on November 13, 2017, 03:34:10 PM

Guys...just curious..I am not saying that MicroMoney is a bad project...infact I have invested in it but why there are just 10k downloads for its app in google playstore..considering it is already active in 2-3 countries?

It is active already in 2-3 countries in the south east Asian regions not through the app but basically through the microfinancing company they have spearheaded for the unbanked and underbanked society. They will be bringing their business model internationally and expand it through the use of AI and blockchain technology.

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Quote from: mongkie on November 14, 2017, 01:44:33 AM

Quote from: SHAWN-MIDWAYS on November 14, 2017, 01:26:05 AM

Hey OP will this be a problem for those of us that signup to receive tokens through orderbook ?

withdrawal is still available for non-verified users that is a good news. there is no problem.

Exactly i also heard this news, i think most of the exchanges and platforms are adopting this program nowadays. Coz since most of it are considered venturing to finances which is the goal is to avoid money laundering and other illegalities.

rdny

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Quote from: chillcott on November 14, 2017, 01:32:53 AM

Quote from: jets567 on November 14, 2017, 01:27:13 AM

Quote from: chillcott on November 14, 2017, 01:21:23 AM

hi devs and all the members of this thread! i have a newbie question since im new here, what is the credentials or requirements of micromoney if someone wants to borrow money? thank you

hi there bro/sis, from what i know their platform will also be using KYC system. I think the requirement itself is to avail the token. But not that sure of the specific details. But it's a good question tho, how can you lend money to someone you don't even know.

yes! thats why im asking how it works. but i read on the first page that micromoney focuses on lending money without any collateral or paper documents.

As from what I have understood from their whitepaper, there will be no to minimal paper documents to be required in conducting their KYC. Instead, they will be requiring only an online application backed up by either the borrower's smart phone and/or social media data which will then be subjected to their algorithms prior to approval. In essence, your data will be used to analyze your financial attitude which in turn will be used by micromoney to assess whether you will be a good payer or not and eventually will be needed before approving the borrower's loan.

mongkie

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Quote from: SHAWN-MIDWAYS on November 14, 2017, 01:26:05 AM

Hey OP will this be a problem for those of us that signup to receive tokens through orderbook ?

withdrawal is still available for non-verified users that is a good news. there is no problem.

Katashi

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Quote from: chillcott on November 14, 2017, 01:32:53 AM

Quote from: jets567 on November 14, 2017, 01:27:13 AM

Quote from: chillcott on November 14, 2017, 01:21:23 AM

hi devs and all the members of this thread! i have a newbie question since im new here, what is the credentials or requirements of micromoney if someone wants to borrow money? thank you

hi there bro/sis, from what i know their platform will also be using KYC system. I think the requirement itself is to avail the token. But not that sure of the specific details. But it's a good question tho, how can you lend money to someone you don't even know.

yes! thats why im asking how it works. but i read on the first page that micromoney focuses on lending money without any collateral or paper documents.

Agree on you both but i also think in order for you to be lended by AMM it will take a corresponding amount of token you are holding and for sure it's via Smart Contract. I am 100 percent sure on the KYC policy coz this will be concerning on credits on finances so definitely there will be KYC policy.

rdny

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Quote from: nelson4lov on November 14, 2017, 01:27:50 AM

Quote from: chillcott on November 14, 2017, 01:21:23 AM

hi devs and all the members of this thread! i have a newbie question since im new here, what is the credentials or requirements of micromoney if someone wants to borrow money? thank you

AFAIK, There are no requirements/collateral fir borrowing loans from MicroMoney. The team is building a micro-financing Platform without limitations. But be aware that the loans will not be much. But the loan amount will be increased with each successful loan repayment.

That is a good start if you want to get access to short term funds specially when starting a small business. Also, keeping the loanable amount at a low amount reduces the amount of possible loss from under or no payment. In addition, increasing the loanable amount with every successful repayment is a good incentive for the loan taker and is also a good medium to teach borrowers on good credit standing and proper handling of their finances.

jets567

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Quote from: chillcott on November 14, 2017, 01:35:41 AM

Quote from: mongkie on November 14, 2017, 01:30:10 AM

Quote from: chillcott on November 14, 2017, 01:21:23 AM

hi devs and all the members of this thread! i have a newbie question since im new here, what is the credentials or requirements of micromoney if someone wants to borrow money? thank you

Banks:
Documents: ID + Family book + recommendation from police station + salary slips
+ recommendation from work. Collateral. Guarantor.
Micro Finance Companies:
Documents: ID + Family book / recommendation from police station / additional documents.
Collateral or Multi guarantors ( group loans )
Pawnshops:
Documents: ID.
Collateral Guarantor: Needed (Gold, Electronics etc.).
Unofficial Money Lenders and Loan “sharks”:
Documents: ID, Recommendation by existing client / Referral.
Collateral Guarantor: Negotiated.

for better understanding please visit https://www.micromoney.io/MicroMoney_whitepaper_ENG.pdf

thank you mongkie im going to read the whitepaper to learn more about micromoney.

Nice publication you have their folk, well atleast it's now specified thank you the clarifications well at least we are now all enlighten. It's a same way on applying normal loans as i see well the difference is it's thru online.

rdny

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Quote from: chillcott on November 14, 2017, 01:21:23 AM

hi devs and all the members of this thread! i have a newbie question since im new here, what is the credentials or requirements of micromoney if someone wants to borrow money? thank you

According from what I have read from their whitepaper, all you need to do is to apply online. Loan approval on the other hand is based on their approval. In my understanding, your smartphone and social media data may be used for analysis by their algorithms prior to approval.

chillcott

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Quote from: mongkie on November 14, 2017, 01:30:10 AM

Quote from: chillcott on November 14, 2017, 01:21:23 AM

hi devs and all the members of this thread! i have a newbie question since im new here, what is the credentials or requirements of micromoney if someone wants to borrow money? thank you

Banks:
Documents: ID + Family book + recommendation from police station + salary slips
+ recommendation from work. Collateral. Guarantor.
Micro Finance Companies:
Documents: ID + Family book / recommendation from police station / additional documents.
Collateral or Multi guarantors ( group loans )
Pawnshops:
Documents: ID.
Collateral Guarantor: Needed (Gold, Electronics etc.).
Unofficial Money Lenders and Loan “sharks”:
Documents: ID, Recommendation by existing client / Referral.
Collateral Guarantor: Negotiated.

for better understanding please visit https://www.micromoney.io/MicroMoney_whitepaper_ENG.pdf

thank you mongkie im going to read the whitepaper to learn more about micromoney.

chillcott

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Quote from: jets567 on November 14, 2017, 01:27:13 AM

Quote from: chillcott on November 14, 2017, 01:21:23 AM

hi devs and all the members of this thread! i have a newbie question since im new here, what is the credentials or requirements of micromoney if someone wants to borrow money? thank you

hi there bro/sis, from what i know their platform will also be using KYC system. I think the requirement itself is to avail the token. But not that sure of the specific details. But it's a good question tho, how can you lend money to someone you don't even know.

yes! thats why im asking how it works. but i read on the first page that micromoney focuses on lending money without any collateral or paper documents.

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So this is AMM, I heard a lot from you, i believe this one's really feasible to think that you are going to engage on big exchanges. I'll be here to subscribe and support your cause from now on. I hope i'll be learning more from you soon. Goodluck to the devs and the team hope you get your targets on time.

mongkie

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Quote from: chillcott on November 14, 2017, 01:21:23 AM

hi devs and all the members of this thread! i have a newbie question since im new here, what is the credentials or requirements of micromoney if someone wants to borrow money? thank you

Banks:
Documents: ID + Family book + recommendation from police station + salary slips
+ recommendation from work. Collateral. Guarantor.
Micro Finance Companies:
Documents: ID + Family book / recommendation from police station / additional documents.
Collateral or Multi guarantors ( group loans )
Pawnshops:
Documents: ID.
Collateral Guarantor: Needed (Gold, Electronics etc.).
Unofficial Money Lenders and Loan “sharks”:
Documents: ID, Recommendation by existing client / Referral.
Collateral Guarantor: Negotiated.

for better understanding please visit https://www.micromoney.io/MicroMoney_whitepaper_ENG.pdf

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Quote from: SHAWN-MIDWAYS on November 14, 2017, 01:26:05 AM

Hey OP will this be a problem for those of us that signup to receive tokens through orderbook ?

I think this is the KYC system that orderbook is now adopting to their platform, which will be asking for your verification ids and other infos in order to confirm your identity.

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Quote from: chillcott on November 14, 2017, 01:21:23 AM

hi devs and all the members of this thread! i have a newbie question since im new here, what is the credentials or requirements of micromoney if someone wants to borrow money? thank you

AFAIK, There are no requirements/collateral fir borrowing loans from MicroMoney. The team is building a micro-financing Platform without limitations. But be aware that the loans will not be much. But the loan amount will be increased with each successful loan repayment.

jets567

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Quote from: chillcott on November 14, 2017, 01:21:23 AM

hi devs and all the members of this thread! i have a newbie question since im new here, what is the credentials or requirements of micromoney if someone wants to borrow money? thank you

hi there bro/sis, from what i know their platform will also be using KYC system. I think the requirement itself is to avail the token. But not that sure of the specific details. But it's a good question tho, how can you lend money to someone you don't even know.

SHAWN-MIDWAYS

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Hey OP will this be a problem for those of us that signup to receive tokens through orderbook ?

chillcott

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hi devs and all the members of this thread! i have a newbie question since im new here, what is the credentials or requirements of micromoney if someone wants to borrow money? thank you

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