The evolution of the internet and other accompanying technologies brought change to nearly every industry in the world, particularly when it comes to trading and finances. Only a few short decades ago, the only way to buy something was to show up at the location and purchase the item you needed.
This changed severely when the internet went mainstream. Suddenly, a new industry of e-commerce was born. It first started with credit and debit cards, and soon enough, services like PayPal were born as well.
Then came the era of smartphones, and in developing countries — it is still not unusual for the merchants to give you a blank stare if you offer to pay for goods and services via a phone app. These days, the crypto industry is emerging, and more and more people are participating. Many are already looking for merchants who would accept crypto payments, but despite the high demand — the merchants were slow to answer the call.
Things are moving too fast for many of them, and the fragmented payments are becoming too much to bear. This is why simplification is desperately needed, which is exactly what a project called Credible Network aims to deliver.
Credible Network is a project that focuses on the reduction of complexity of an increasingly fragmenting payment system. It aims to turn it into a consistent, seamless experience for all merchants. The project believes that merchants want a simple tool that would accept electronic payments across multiple modes. This would include things like cards, mobile, and even QR codes and crypto payments.
In fact, the project seems certain that the need for simplification is massive, and that it is highly necessary to make a change. This is why the project's team developed a unified Mobile App and POS terminal for easy payment acceptance, automatic reconciliation, and consolidated transaction history.
The platform has been entirely developed in-house by the experienced fintech engineers, who allow the project to respond very quickly to any new changes in the payment infrastructure marketplace. The project saw a lot of success in developing its product, and they are even preparing to hold an ICO, which would bring the last piece of the construct — their PESA token.
Credible Network's token sale still has no precise date announced, but a number of additional ICO information is already available. We know that their PESA token will be a utility and that it is an ERC-20 token, meaning that it was developed on Ethereum's network.
The token's price is also known, and during the PreICO stage, it will be $0.072 per 1 PESA. As for the ICO, the price will be slightly higher — $0.09 per token. The project also announced that it would accept four coins in exchange for PESA — BTC, ETH, HT, and BNB. As for the caps, the soft cap will be at $5 million, and the hard cap at $18.5 million.
The project itself is registered in Singapore, it features a functioning MVP, and it will have an entire list of restricted areas. Those will include North Korea, the Democratic Republic of the Congo, Iran, Eritrea, South Sudan, Libya, Somalia, the US, Yemen, Sudan, and China. Other regions are free to participate, provided that they go through KYC and Whitelist procedures.
|Start||July 3, 2019|
|End||October 24, 2019|
|2 days left|
Credible, and other similar projects, will be of great service to people who live in developing countries with weak banking systems, which are oftentimes as archaic and clunky as it gets, being unable to gather enough data to come up with an objective credit score for a customer. Credible addresses all these issues by developing a blockchain-enabled credit score system that is transparent, efficient, and fail-proof. Definitely one of the best projects around at the moment.
I was impressed by the fact that Credible Network managed to get Visa as one of their primary partners even before the actual launch of the platform. However, the rest of their partners, such as Ambank and Credibanco, don't play well with me, because being an EU-based investor, I would like to see some European banks of financial institution on that list. However, most of them are either Asian or located in Latin America. Apparently, that's where the focus of Credible Network would lie.
The funding gap that Credible tries to bridge is a real pain point from many representatives of the SME. As rightfully noted, they do all the hard work, pushing further the economies of the developing countries, and the developed alike, whilst being deprived of proper means for funding and load obtainment. The central banks and the governments are hopeless in this regard, so their only hope lies with blockchain and cryptocurrencies. It is my firm conviction that Credible presents a viable concept that will bring substantial benefits to all small and mid-sized businesses out there.
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