Smartphone Habits Can Determine Credit Worthiness In Developing World
According to a report (paywall) by the Wall Street Journal, tech start-ups are revolutionizing the lending industry by finding alternative ways to judge someone's credit worthiness in the case of people who've never had a loan, credit card, or other revolving credit accounts. Instead of looking at payment histories that don't exist, the start-ups take a look at the user's cell phone habits. An app is installed on the potential borrowers phone and then authorized to collect all sorts of data from it. Branch is one of the companies involved in this. Founded by former Kiva (a microlending....
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What these credit ratings do is determine the cost at which governments and enterprises can issue debt. A lower rating will have an impact on the UK economy over the coming years. The Brexit has a lot of side effects that will affect the financial situation of both the EU and the UK. Moody’s one of the leading credit rating institutions in the world, lowered the UK’s sovereign credit rating. This “negative” outlook is not something most Britons were looking for, but they will have to face the consequences of their voting. Although not everyone pays much attention to credit ratings these....
The rise of startups helping foreign students access the US credit market points to yet another revolutionary potential use for Bitcoin. Fiat Credit Can’t Cut It. International students, from developing nations in particular, who study in the US face huge difficulties obtaining credit — which is all too often vital for them to afford basic living costs.....
The Philippines continues to be one of bitcoin’s most promising countries, posting a 20 percent growth in smartphone shipments for Q1 2016. That figure makes it the fastest-growing smartphone market in Southeast Asia. According to IDC and TechinAsia reports, Philippines’ statistics come at a time when other countries in the region experienced lackluster....
Releasing the results of its first credit score on the Aave Protocol, a decentralized credit scoring mechanism called Cred Protocol is set to expand to Compound and MakerDAO. Cred Protocol, a decentralized credit scoring startup has unveiled the results of its first automated credit scoring system for users of decentralized finance (DeFi).Cred Protocol CEO Julian Gay outlined the results in a Twitter thread, which showed how Cred successfully utilized past transaction behavior on the Aave protocol to assess the creditworthiness of future borrowers based on on-chain behavior in the DeFi....
Ok, so maybe the whole Bitcoin mining thing didn't work out. Maybe you are a day late, and a dollar short to play with the big boys in 2015. Maybe you need just one more shot to strike it rich in digital currency. If you don't have a supercomputer that takes up an entire bedroom, it's probably time for Plan B. That plan might include the newest digital currency called MangoCoinz. "What's that?" you might ask? MangoCoinz is a new digital currency that lets you mine on your smartphone, so no mega-servers are required. It can be done away from home as well, or anywhere you can take your....