There goes a saying in English: An idea is not born itself, it has to be created. If one can identify the unmet needs in the market, and offer a suitable and a feasible solution, reaching the pinnacle would not be a fairy tale. There have had companies and dynamic individuals who have done it time and over again. An art of tapping the untapped. Mohammad Younus did it in Bangladesh, by opening a bank called Grameen Bank and mesmerized the entire world, this time it is the turn of Ron Ezra Tuval, the founder and managing director of L-Pesa Kripton.
Introduction
L-Pesa is a Fintech start up for microfinancing which aims to take the advantage of the fast-growing need for financial services in the developing world. After validating it operations model for over 24 months, it has built sophisticated technology, automating most of the operation. The automation process helps it to quickly scale microlending in developing countries. The user interface is based on mobile and web technologies and marketing is primarily accomplished via social media and SMS. It was first launched in Tanzania in 2016 and in Kenya in August 2017. Taking the advantage of its leading position, strong platform, and nearly unlimited opportunity, it is now raising funds to extend financial options to a large portion of the earth's population. There are millions of people who don't own enough or have the right paperwork or live under oppressive regimes, who cannot access micro financing because dealing with fiat has bureaucratic requirements. To create a more inclusive society, L-Pesa will use blockchain and tokens. It will also help in overcoming many of the barriers and deepen the reach further down
Industry Problems
The traditional microfinance has limited reach, and solutions have been targeted towards poor farmers and small business owners. Middle-class consumers and business owners in developing countries have an unmet demand for credit, but the current financial infrastructure in these countries does not support credit underwriting. The market today displays a number of problems. Business credit reports used for loan underwriting in developed countries are generally unavailable. There is an acute lack of bank credit facilities to the vast majority. Middle-class consumers do not have access to microfinance, it is primarily lent to very poor farmers in rural areas. The traditional banks and microfinance institutions incur a very high overhead cost due to outdated operating models. People lying above the poverty line like consumers, farmers and small business owners in developing countries get limited opportunities to obtain credit. Als0, these people do not even have bank accounts.
The L-Pesa Solution
Rapid scaling is allowed in this system by converging four important market forces: Big data, AI and blockchain with Mobile Technology, Biometric Identity and alternative credit data. L-Pesa has harnessed these market forces and built technology and a proprietary credit scoring model that allows it to quickly scale microlending in developing countries while keeping loss ratios below 10%. The solution is highly automated, allowing a small back office team to support high volume loan origination. All loans are serviced by L-Pesa.Over time, L-Pesa expects to introduce additional financial services that would appeal to its user base, such as money transfer services. L-Pesa has built a proprietary credit underwriting system which is one of the keys to its success. The credit scoring system allows L-Pesa back office users an efficient means of processing loan applications.
Token details
The token name is Kripton. It operates on Ethereum ERC-20 platform. A maximum total of 2,600,000,000 tokens will be issued. There will be no mining to increase the token amount. The pre-sale of tokens will start from 18th, March 2018 and last for 17 days, whereas the Public sale of tokens will start from 10th April 2018 and last for 30 days. Token price is established at 1 ETH = 17,500 LPK. The soft cap value is 50,000 USD and hard cap value is set at 52,00,000 USD.
Pre-sale starts on March 18, 2018 / 15:00 GMT.
ICO starts on April 10, 2018 / 15:00 GMT
ICO ends on May 10, 2018
The token distribution will be as follows:
Conclusion
It is a platform where people are allowed to create opportunities for themselves and their families. They can use the funds from L-Pesa to support meet their dreams in life, irrespective of which economic class they fall under. Infusion with latest technology like blockchain etc. gives it a cutting edge over other financial platforms. On the other hand, it offers an ocean of opportunities for investors to wisely invest in a company where possibilities of maximum returns are very high. Go grab the Kripton and let the odds be forever in your favour.
For more details visit:
Website: https://kriptonofafrica.com/
ANN Thread: https://bitcointalk.org/index.php?topic=2885970.0
WhitePaper: https://kriptonofafrica.com/static/pdfs/L-Pesa%20ICO%20white%20paper%202018.pdf
Twitter Page: https://twitter.com/lpesaico
Facebook Page: https://www.facebook.com/lpesaico
Bounty thread: https://bitcointalk.org/index.php?topic=2910183.0
Blog By: Lanirm Knayam
Bountyhive Username: lanirmknayam
BTT profile: https://bitcointalk.org/index.php?action=profile;u=1308391
