Kripton - Microloan and Finance Platform

Website: https://kriptonofafrica.com/

L-Pesa is not a charity. L-Pesa is purely a business. Being a business gives us certain freedoms that charities don't have. As a business we have to provide a return.

In facilitating microfinance, we have to be extremely efficient; the cost of doing a $1000 loan is the same as $100, and due to operational costs, banks and financial institutions are limited in how low they can go.

Blockchain brings transparency and efficiency, and it drastically reduces the operational costs, making the small lending viable. Tokens are efficient transactionally over fiat, so they are more appealing to the L-Pesa target market, and they also assist in building a community and creating a network effect.

We have been doing it with fiat as an existing operation; blockchain will allow us to expand our reach and lower our costs.

Bank financing costs don't allow us to reach the people at the bottom who need it the most. Expanding operation by virtue of expanding reach would allow us to now make facilities available to people who can't be served by banks or icrolenders because they’ve been deemed “not profitable”.

The problem L-Pesa is solving: there are millions of people who don't own enough or have the right paperwork or live under oppressive regimes, who cannot access microfinancing because dealing in fiat has bureaucratic
requirements. We are having to refuse help to people and turn away business. These people don't have the opportunity to be part of the future and are being left behind.

Using blockchain and tokens, we can overcome many of the barriers and deepen our reach further down the chain to create a more inclusive society. L-Pesa is a business, not a charity. But the beauty of L-Pesa’s work is that it remains fully grounded in business, while the result is ultimately very charitable. Everyone ​wins.

The L-Pesa solution

Big Data, Artificial Intelligence, and Blockchain

New tools allow for storage of vast amounts of data and extensive data analysis at a fraction of the cost from just a few years ago.

Advancements in artificial intelligence provide new opportunities for automated loan underwriting.

Blockchain technology allows for faster, safer, and less expensive exchange of value.

Alternative Credit Data

New tools have been developed to make data useful for decision-making in loan underwriting.

L-Pesa has developed a unique, proprietary credit scoring model based on user behavior combined with traditional and alternative credit data.

Mobile Technology

The rise of the mobile phone over the past two decades has been one of the most profound technological and market shifts in human history. A large majority of humankind now owns a mobile phone, and many own smartphones. Mobile
financial services such as M-Pesa have become available in many countries and support both the banked as well as the unbanked population. Based on the market penetration of mobile phones (smartphones and feature phones), mobile money services such as M-Pesa, Tigo Pesa, and Paytm have grown very quickly and have enabled L-Pesa.

Biometric Identity

Biometric ID will result in dramatically reduced cost and the ability to provide financial services without a physical branch network.

The process by which L-Pesa has achieved this success is described in the graphic below:

1.User registers an account on L-Pesa, often in response to a social media post or an SMS marketing message. Over time, L-Pesa expects that a large number of account openings will originate from referrals from existing users.

2.User adds documentation to their L-Pesa account, typically identification documents such as driver’s license or passport.

3.L-Pesa staff performs identity verification. Much of this work is automated, and more automation will be added in the coming months.

4.The user submits an initial loan application, typically for the local equivalent of $1.00. In many cases, this application is automatically approved.

5.Subsequent loan applications are handled the same way: automation based on the user’s credit score is the key to success and scale.

6.Once a loan is approved, disbursement is processed in real-time using a mobile money service such as M-Pesa or Tigo Pesa.

7.Users are given a payment plan and are expected to make regular payments on the loan. Repayment is also made using a mobile money service. Users can prepay without penalty. Delinquent payments will impact the user’s credit score and will result in automated messages to the user. Delinquency handling is very efficient, resulting in a loss ratio
of less than 10%.

8.User support is handled by the L-Pesa back-office team in Tanzania.
User support is available in English and Swahili via social media channels, email, and phone.

Allocation tokens:

Token Distribution:

1.Token contract which follows ERC20 standard.
2.Crowdfunding contract which allows campaign participants to
send their contributions in ETH.
3.1 ETH = 17,500 LPK

Links:
Website: https://kriptonofafrica.com/
Whitepaper: https://kriptonofafrica.com/static/pdfs/L-Pesa%20ICO%20white%20paper%202018.pdf
Twitter: https://twitter.com/lpesaico
Facebook: https://www.facebook.com/lpesaico
Telegram: https://t.me/LpesaICO
ANN Thread: https://bitcointalk.org/index.php?topic=2885970.0
Medium: https://medium.com/@lpesaico

============================================================
The bitcointalk name: mreretic
Profile links : https://bitcointalk.org/index.php?action=profile;u=1716487