Microlending

Smartphone Habits Can Determine Credit Worthiness In Developing World

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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 platform focusing […]

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Rootstock Merges Bitcoin and Ethereum to Help World Bank with Micro-Lending

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Rootstock, a P2P platform based on the block chain that implements smart contracts using the capabilities of Ethereum with the transparency and security of the bitcoin network, is negotiating with the World Bank and some Latin American banks to provide microlending for the unbanked, according to the International Business Times. Rootstock hopes to give banks the means to issue loans from smart contracts. Rootstock combines the capabilities of Ethereum with the bitcoin network’s transparency and security by using sidechain technology. Bitcoin serves as the fuel that runs the smart contract. Nick Szabo, an expert on smart contracts, has said Rootstock joins […]

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