Can We Save Students With A Blockchain? A Series Approach

DebtMet (Social Finance Network)
We’re very happy to announce our first rollout partnership with DebtMet, a company geared towards helping students pay off their student debt. When we engage with potential partners for our blockchain developments, the verification and approval process is important. When we are presented with any app partner, we immediately need to make what we call a “Series 1 determination”. This means does this app meet our standards for a good service, without a blockchain being considered. Here are some sample questions we ask ourselves from our series 1 process and which we will use as a basis for consideration in the future:

· Is this something that can scale? If yes, how?

· Is there a market need? excluding the trivial

· Is there a basis for an accessible UI? If yes, is this UI typical or experimental?

· Does this neglect significant demographics? If yes, does that harm the service?

· Is there an international need? or a domestic need? Does that create cause and effect?

· What kind of front end and back end code is needed? Is it attainable?

· Is there room for some form of community engagement?

· Marketing Vs. Product? If marketing outways product, then the business is not viable in the short run.

· Long term gains? Socially and fiscally.

AND MOST IMPORTANT

· Is this app economically and financially responsible?

These are just a few questions we ask when we do a first take on a new product, service, or partnership. When advising entrepreneur’s we suggest you ask yourselves the questions above when considering a startup,

ESPECIALLY BLOCKCHAIN BUSINESSES.

With with the DebtMet team, we decided they did pass this series one determination, but it didn’t end there. For us to proceed with a serious partnership, the business or organization in question must then pass “Series 2 determination”. Series 2 internally refers to blockchain implementation. We need to not only ask ourselves if an app is worth it, but if it even requires the need for a blockchain. Here are some sample questions we asked ourselves.

· Does this app need our particular or a blockchain at all? If yes, why?

· Will a blockchain accelerate this particular app’s functions? Which ones? does that make the app better?

· Is the app inherently decentralized? If not, then could it be?

· Would their customers need a blockchain?

· Is this app generating real data, meaning not trivial?

· Is the company creating this app transparent from a corporate standpoint?

· Can this app include architects, and add monetary benefit for our freelance workers?

· Does this add to the complexity of their application? does that complexity harm the product?

DebtMet.com
From DebtMet.com

Here is what DebtMet says about their service:

At the core of our service, DebtMet offers a one stop hub for anyone with debt. After signing onto our service and creating a personal profile (with the option for public anonymity with certain features), the user will have access to all of their student loans on one app. This will allow for easy management and instant payment to all loan lenders through one cohesive portal.

Our services are presented below:

The DebtMet “Social Finance Network”: This core baseline feature will allow users to create a personal profile, attached with images, personal biography, work history and a friends list. This baseline will be fundamental in aiding each user to alleviate or erase outstanding debt through means of network crowdfunding and direct messaging to friends, family, and businesses.

The DebtMet “Team leader Interface”: This allows companies within the user’s area to offer employment, while presenting competitive benefits that will help reduce the user’s debt burden. If the user accepts employment with the company offering these benefits, they will be given an update to their account that adds an employment tab. This employment tab will neatly organize user benefits, as well as create a clean portal for employee paid benefits and the company that has hired them. The Human Resources employer of these companies will be given access to a separate account on the DebtMet platform that will be specifically created for easier management of their employees as well as the benefits those employees receive.

This system will also streamline the transfer of those paid benefits to the employees direct DebtMet account. This program will give companies the opportunity to attract the best possible talent, create incentive for a more efficient workplace and reduce employment turnover rate.

While we will give our partners creative freedom that will help with their own specific employees, we have our own engineered programs that we can implement in any company that wishes to use them.

Listed below are some examples of programs that we have crafted:

1. Weekly Objective- company postings on the platform about certain goals or sales marks for the month, if achieved, that user will get an added percentage to their debt rebate from their employer. This improves work efficiency; HR team building and reduces the rate of employee turnover.

2. Employment Referral Program- If a current employee helps in the assistance of recruiting a new employee, and that new employee demonstrates a benefit to their employer, both the current and new employee will be given added percentage on their debt rebate from their employer. This improves recruitment and provides social network marketing at little cost to an employer.

3. Company Loyalty Program- If an employee stays with their employer for a minimum of 2–5 years and has a clean and efficient record that benefits their employer, the employer will increase their debt rebate percentage. This provides incentive to work efficiently, honestly and provide community for older existing employees.

4. College Intern Debt Benefits- Interns at top companies with a clean and efficient record will be given a stipend that will be used to help pay off their student debt. This will be added on top of the college credit they already receive from certain employers. This program will provide the best possible interns in competition at companies that are looking to recruit post-graduation.

The services provided by Debtmet (that are mentioned above) will neatly blend as a streamlined student portal, employment portal and Social Finance Network. Making crowd funding accessible to students in need and offering employment benefits platforms to companies in partnership will accelerate the amount of traffic and accounts we bring into DebtMet.

Adding to NewCurr’s Series Process, we internally felt DebtMet needed a blockchain for the following reasons.

1. A new generation of students will be active with the future of the internet.

2. Blockchain creates fair debt repayment distribution.

3. Transactions are verified, creating serious data on the debt industry.

4. We can introduce many Universities to the potential of blockchain related education.

5. Mainstream markets and established loan lenders can find positive benefits from this blockchain network.

Please see the NewCurr Whitepaper for more detailed information: http://newcurr.com/the-whitepaper/

For detailed additional info, please check out the websites at http://debtmet.com/ and http://NewCurr.com

Twitter: at NewCurr