Six million U.S. dollars down, $24 million to go -- visionaries, bankers, athletes, international development specialists and engineers, the advisory board as diverse as the audience the fintech lender MicroMoney Intl. is serving, is pulling out all stops to get to the $30 million token exchange goal that will lift millions of people out of financial oblivion.
The heavyweights of the blockchain industry have been assembled to support MicroMoney’s vision on international lending evolution.
A thriving business in Myanmar, Cambodia, Thailand, Indonesia and Sri Lanka with 100,000 registered users and 40,000 loans issued this year, MicroMoney aims to use the funds from the token distribution to add 25 million customers to its customer base it refers to as “family” and help introduce billions of the unbanked to the global financial industry.
Today, banks are not able to approve first loan applications for billions of people worldwide due to absence of credit history and records. MicroMoney breaks this vicious cycle by lending to the unbanked and thus creating credit profiles banks could use, a breakthrough made possible by productization of the proprietary blockchain-based Decentralised A.I. Neural Network Scoring System.
“We are thrilled to have captured the attention of such a diverse of a group,” said Anton Dzyatkovsky, MicroMoney’s co-founder. “The breadth of our advisors’ geography and backgrounds highlights the universal appeal of MicroMoney’s ultimate objective – to help bank the world’s 2 billion of the unbanked.”
The board includes officials of multilateral organizations, representatives of sovereign countries, officers of national financial institutions, major international banks, financial services organizations, prominent influencers, and public figures, as well as executives of MicroMoney's key vendors and strategic partners.
The latest addition is Sam Taheri, internationally-renowned stock car racer, who agreed to brand his car with MicroMoney insignia in order to help advance the social justice so that “a million people could learn about MicroMoney.”
The effort is of course aimed at attracting enough funds to enable MicroMoney help the greatest number of the unbanked. Kicked off Sept. 15, AMM token pre-distribution campaign has a minimum swap threshold valued at $10,000 and a soft cap of swaps valued at $2 million. Thus far pre-distribution event generated $1.3 million and approximately $4.5 million worth of AMM transactions pledged by Oct. 17. The actual token distribution campaign starts Oct. 18, aiming to distribute between $15 million and $30 million (hard cap) worth of swaps.
“MicroMoney’s vision to convert the world’s unbanked into members of global financial system could be one of better business objectives of the entire 21st century,” said MicroMoney advisor Roel Wolfert, the founder of Qoin, which helps build vibrant local communities by introducing locally-owned and locally-run community currencies.
Wolfert Is also an author and professional advisor to highly successful token campaigns, such as KickICO and Bancor ($153 million raised). An author, Wolfert writes about value management, the vision and methodology to get more value by more effective changes in business projects.
MicroMoney’s mission dovetails with the latest trends in global development and non-profit lending, where The United Nations plays a special role by embracing blockchain as one of the key initiatives to help reduce suffering and inequality in the world.
“Fulfilling MicroMoney’s business objectives will help organizations like United Nations to promote world peace,” said MicroMoney advisor Jack Huang, Thailand Consultant at Office of Information and Communication Technology (OICT) of the United Nations. A University of London graduate, Huang’s expertise draws from a career involving think tanks, journalism, governmental, and private sectors and public relations.
Also sharing Micromedia and U.N. values is Xiaochen Zhang who serves on the Crowdfunding Professional Association Board of Directors, UN ESCAP Digital Economy Task Force and is a senior adviser of the China Social Entrepreneurs Foundation and Inter-American Development Bank. Zhang leads blockchain accelerator FinTech4Goods.
The tie that binds as diverse of a group as this is the desire to use blockchain to improve the living standards of almost a quarter of Earth’s population.
“This crowdsale is not just about making money, it's about social justice, about giving back and about leveling the playing field for millions of people who are systematically denied opportunity,” said Dzyatkovsky. “Buyers of AMM token are not just making MicroMoney's services available to millions of the unbanked, they enable our customers to share their data with financial and retail companies, thus making them holders of their credit score, eligible to offerings from other banks and organizations, so they can finally be the rightful participants of the global economy.”