Rated on Sep 3, 2018
Modified on Sep 3, 2018
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.
In First world Nations large Financial corporations and Credit scoring reference data although archaic and clunky is easy to come by. With "Credible" here the Background company, Smartpesa, have created an efficient multi payments solution that can be used in Emerging/ Underdeveloped markets such Philippines and Parts of Africa where many forms of payments are used from cash to a multitude of "local" Bank cards, making collating data for credit scoring purposes near impossible without extremely high premiums that dont fit with the market it serves. The "Credible" app accepts all the multiple banking sources into single data file stored on Blockchain giving a complete record of financial history in a way that isnt possible today with traditional credit bureaus with the added benefit that the merchant owns the data, not the Bureau, and gives far greater financial freedom to the user and owner of the data.
Just as importantly as a solution for Growth and financial democratization in emerging markets the key service here is the data which collected and can be utilized by 3rd parties to Verify that Small/Medium sized Merchants (SMEs) are credit worthy, through the transactions and therefore enable the growth of business and the development of nations, by making the whole credit bureau systems far more efficient, reliable and effective providing a long lasting resource of highly valuable and complete data that is controlled by the owner of that data. This provides active use for the Token and potentially very high levels of return for investors in this type of project of the mid to long term,
I believe that once this product is successful in its current markets and expands to other markets, this company has the potential to become world class challenger to the likes of Experian, as they are already way ahead of the game in resolving extremely complex financial data collection in difficult markets, have an MVP which has genuine application, a token which will be utilized to help get SMEs want they need and want to grow their businesses and Lending institutions what they need to verify "Credibility ".
With a solid development team with experience in the markets and technology they are working with I think this one deserves top marks as one of the best ICO projects I have seen this year.
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