MICROMONEY
Bringing 2 billion Unbanked into
The New Global Crypto Economy
proudly presented by: Sai Hnin Aung, Tetsuji Nagata, Anton Dziatkovskii, Yoshiyuki Taira,
Yojiro Tsutsumi, Oknha Sorn Sokna, Pasan Madhawa Edussuriya, Fransiskus Djaka Purnama,
July Phoo, Bhannathorn Sangsuk, Tin Htut Aung, Malsha Thilakarathne, Vivian Sukamto,
Nikhole John Tecson De Vera, Aung Pyay Thein, Roel Wolfert, Xiaochen Zhang, Azam
Shaghaghi and more than 50 members of our great MicroMoney Family.
INTRODUCTION
According to a McKinsey Report, in 2010 2.5 billion adults, just over half of the world’s adult population, did not use formal financial services to save or borrow. Despite the movement towards financial inclusiveness, in 2017 there are still about 2 billion people in the world without formal banking. That means they are forced to use cash in their daily life and have no chance to address their urgent needs by applying for banking services. Borrowing from friends and family is the most common source of urgent finances because their loan applications are hardly approved by banks. The reason is always the same: they have no credit history. Although financial organizations declare that there are fewer and fewer unbanked each year, those who remain in an unbanked or underbanked status do not have an easy way to solve their situation.What are the trickiest things for banks to include such people into their customer base? Unbanked are profitable at large, but they involve higher risks and lower margins. Blockchain technology offers an answer to classical but outdated banking restrictions. It provides
financial institutions with a way to increase market competition and to make a product revolution in financial services. The current situation enables and even forces all market players to provide fast and affordable services for the financially excluded worldwide.
Today we can say that savings and lending services constitute human rights. Moreover, financial services have become one of the main sources of income for state economies, encouraging the development of other industries. Providing the unbanked with access to
wider financial opportunities means a higher standard of life globally: better education, medical care, establishing new small businesses, and improving the state’s economy.
MARKET OVERVIEW
Emerging markets show interesting statistics: they have a high percentage of the unbanked and underbanked, and a high penetration of Internet and mobile services at the same time.
Here are some examples of countries and regions demonstrating these trends:
Africa (population: 1.1 billion)
80% of the population does not have a bank account but 63 out of 100 people use mobile phones. Experts expect this factor to help solving the banking services availability problem as it provides an opportunity to unbanked individuals to access banking services via their mobile phones.
India (population: 1.3 billion)
Currently, India is the world’s fastest growing Internet market with a user base growth of 51.9% in 2015. However, India’s unbanked population would be the world’s 7th-largest2 . A report3 prepared by PricewaterhouseCoopers in 2015 pointed out India’s unbanked population that year to be 233 million.
China (population: 1.3 billion)
China has 731 million internet users with 53.1% of the population online. And 95% of users access the Internet from their phones. The country shows a fast development pace but still has 21% of the unbanked.
Pakistan (population: 193 million)
Pakistan showed 185% growth of mobile broadband users, but 100 million Pakistanis are still unbanked.
The Asian region overall is expected to be the world’s fastest growing Internet region by 2020. It shows a growing amount of Internet users, extending mobile phones penetration and increasing usage of social networks.
According to Google and Temasek, by 2025 the South East Asian Internet economy is expected to reach USD 200 billion, strengthening its already strong and growing GDP of USD 2.5 trillion. With its mobile connection growth rate higher than the global average (124% vs. 103% respectively), and its Internet speed expected to reach the global average of 23.3 Mbps soon, the region’s Internet industry is flourishing. Furthermore, as of January 2017, social media penetration of its member countries is high (statement out of the blue, needs supporting data).
At the same time, only 27% of the South East Asian population has a bank account. In poor countries like Cambodia, the numbers fall to about 5%. That corresponds to about 438 million unbanked in the region.
In Myanmar, the smartphone penetration stands at 58%, higher than the global average of 37% and the regional average of 47%. In the meantime, Myanmar has one of the lowest banking penetration rates in Asia, with over 85% of adults (aged 15+ years) unbanked. Central bank data suggests that outside Yangon city, the unbanked comprises more than 95% of the population, and only 1 million households have a credit card. As a result, 95% of a population of over 50 million depends on about 5,000 unofficial money lenders and “loan sharks”.
THE GLOBAL PROBLEM
As people worldwide lack access to basic financial services, they have
limited capacity to overcome poverty and to increase their living
standards. That implies a lack of access to both banking services
(loans, mortgages, or bank accounts) and access to all other services
and opportunities. No credit history means limited access to banking
services, which means no loans and, no credit history… However, there is
hope to break this vicious circle. There is a large percentage of
unbanked individuals in the Asia-Pacific Region, which is now home to
more than half of the world’s internet users, 54% of the world’s social
media users, and 56% of all mobile social media users. This trend proves
that although most Asian people may be unbanked, digital services and
innovative solutions have improved people’s lives. And we are here to
help bring all those millions of people to the new global crypto
economy.
WHAT WE CAN DO ?
Our Mission
- Solving hunger and poverty by providing unbanked people with the access to financial services and a possibility to build their first credit history on a Blockchain.
- Helping unbanked small entrepreneurs grow their businesses by offering them online loans. Enabling banks, financial companies, einstitutions, and retail businesses worldwide to efficiently scale and serve customers, who previously had no access to their services.
- Creating an extensive micro-financing ecosystem by providing our franchise to local partners. Raising financial awareness among our clients by offering consulting services and educational materials.
- Enabling Blockchain companies to efficiently scale their customer base by getting access to our open source Credit Bureau with millions of un(der)served people.
- Bringing financially excluded people to the new global crypto economy.
Building and Open Source Credit Bureau on Blockchain
Loans through smart contracts, transparent and reliable credit history.
We must enable businesses to get access to our customers, offering them
the best service possible.
Providing Big Data for Businesses
Our products represent a digital financial identity encrypted on the
Blockchain and Big Datagathered from borrowers’ smartphones. That Big
Data of previously unserved customers becomes really useful for
business: people need money and services, while businesses need new
customers. As you can see, we started as a company fully focused on
micro-financing in the money lending industry, aiming to provide the
best solution to individuals and SMEs. But nowadays we are proud to be a
Fintech company, working towards the goal of global financial
inclusion. Since 2015, MicroMoney has been successfully operating in
Cambodia. In 2016, we started in Myanmar and have since decided to
expand worldwide. In 2017, MicroMoney established a back office in
Thailand for the purpose of reducing operational costs and making
further expansion in region: Philippines, Indonesia, Malaysia, Sri
Lanka, Singapore, Hong Kong, China.
Expanding Worldwide
While considering scaling our product, we have identified100 most
populated countries with billions of unbanked and a huge demand for our
main solutions. We took this idea from McDonald's and completely
standardized and packed our business processes in our CRM system
(BPM`Online). It is now a ready-to-go Franchise Financial
Platform. Hence, expanding to new countries and opening new branches has been dramatically simplified.
Token details
What does AMM token represent AMM is a utility token. The token is an
integral part of the MicroMoney ecosystem and can be used as an internal
payment mean or to get access to MicroMoney’s services. The token model
is built so that our clients will want to use it frequently, thereby
creating higher demand for the token.
Symbol AMM
Total supply (Token distribution) 60,000,000
Plan to raise $ 15,000,000
Hard cap $ 30,000,000
Adjustable 100% pre-mined. Any unsold tokens during the Token
distribution will be burned.
Token type ERC20
Can be sold before No, all tokens can be sold only after Token distribution finished.
Token distribution finished
Initial price 1AMM=1USD
ROADMAP
MORE INFORMATION :
Website : https://www.micromoney.io/
Facebook : https://web.facebook.com/micromoneymyanmar/
Medium : https://medium.com/@micromoney.io
My Bitcointalk Profile Link : https://bitcointalk.org/index.php?action=profile;u=1274612
My ETH Address : 0x1D1eE2E87dd5907640198B0931f3E258974487B5
My ETH Address : 0x1D1eE2E87dd5907640198B0931f3E258974487B5
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