SmartPesa Credible puts business credit data onto the Blockchain in a way that is private and owned by Merchants.
Data is valuable. Especially for SME businesses who struggle to obtain financing due to a lack of trustworthy credit data. Approximately 40% of all SMEs cannot obtain access to vital credit: a funding gap of over $5.2 trillion per annum. That is why we have created SmartPesa Credible ("Credible").
But unlike traditional credit bureaus who look to monetize other people’s data, Credible gives ownership and control directly to the merchants themselves. They get paid for their data and they can opt out of the system altogether. All payments are in PESA tokens.
Our blockchain solution solves the sharing of business credit data across institutions in a controlled, secure and economic way
Merchant do not need to change their behaviour. Merchants go about their business in the same way as they always have – we take on the role of unlocking this valuable data and making it available on a blockchain in a private and secure method. It is the accumulation of KYC and transactional data over time that builds a strong and useful credit history.
Credible is larger than just SmartPesa – we actively encourage all banks, insurers, FinTechs, government and trade partners to also contribute and verify data. A new community drive architecture:
Credible is and will always be completely open source. Our vision is an open ecosystem of data requestors, data contributors and developers.
Credible allows businesses to keep control over their own credit information. Each merchant has an own wallet. Merchants sell their data for tokens, use tokens for verification services, and pledge tokens as loan collateral.
We have already achieved a great deal in our 4 years to day. With help from our teams, contributors and investors we shall be successful in reaching our future milestones.
Data requestors will use the PESA token to transact with data owners for access to their credit data. These tokens will be issued as Ethereum ERC20 conformant tokens.
To Be Announced
To Be Announced
With help from our teams, contributors and investors these are the milestones we are looking forward to achieve.
Run own own nodes. R&D on Bitcoin/Litecoin RPC + ZMQ. Bitcoin and Litecoin merchant payments.
Register patent for blockchain based payments (SG 10201802929R).
Publish credit data model and taxonomy (systematics, structure, hierarchy)
R&D on Credible (data replication, consensus, trial data, noSQL storage), incorporate local offices in PH
Design Credible RPC (interface, validation), Credible token acceptance (payment)
Launch Credible testnet with Credible Explorer. First 20 nodes. shared keyring, joining and recovery
Credible SDKs for Mobile, publish Credible RPC interface for add, validate, search, purchase credit data
Onboard existing merchants onto new blockchain with terminal service providers (TSP) and merchant service providers (MSP)
Sign on data consumers (MFI, banks, loan providers)
Credit scoring model, loan provision support
Dynamic data pricing exchange
Credible in an blockchain with a token model to allow merchants to monitize their data. The token creates an incentive for all participants.
Credible puts the token at the heart of the ecosystem with both demand (requestors) and supply (data providers) participating actively in the token exchange.
All transactions across Credible take place in SmartPesa Credible Tokens (PESA). Merchants receive Tokens from 3rd parties for accessing their data. Merchants pay Tokens to Verifiers for attestation, and pledge tokens as collateral for loans. Investors can Buy and Sell Tokens through SmartPesa CryptoATM at their nearest Merchant.JOIN ON TELEGRAM
The SmartPesa Team has demonstrated expertise in engineering, technology, bank integration, and high performance real-time systems.
CGAP Consultant, SUSS Fellow, Travelkhana
Passionate about ideating, starting and growing ventures that solve complex operational problems at the interface between online and offline world.
Matteo brings to market products and services to solve real pain points. He admires true technologists who make innovation happen, and he like to keep myself abreast of the latest trends.
Cryptocurrency Fund Manager, Blockchain Technologies
Co-founder and Fund Manager of the Cryptocurrency Balanced Large Cap Fund SP. CBLC is the first Fund globally to launch with top tier service providers for audit, banking, custody, administration, tax advice, cyber security, insurance and legal compliance. Fund Management team is licensed by the Monetary Authority of Singapore and the Fund is regulated by the Cayman Islands Monetary Authority
Own blockchain network to distribute data between geographically spread nodes while ensuring global data consensus
Credible is an infrastructure. It is own blockchain network for public access, data contribution and querying.
Credible use blockchain in a novel way to store cryptographically secured data. Tendermint validators ensure Byzantine-fault tolerance across all nodes.
We adopt MongoDB as our storage layer in a noSQL database allowing for flexible JSON data models for hierarchy and classification, and querying across large datasets.
In the spirit of community, we encourage collaboration and welcome suggestions to improve the design and flow of Credible. Our code and design is and will always be open.VIEW ON GITHUB
Below we’ve provided information about SmartPesa Credible, Token, and blockchain clarifications. If you have any other questions, please get in touch on the direct channels.
SmartPesa Credible is permissioned secure blockchain network built by SmartPesa specifically for SME credit data in emerging markets, looking to disrupt the incumbent credit bureaus and inefficient loan processes.
All payments for data creation, validation and accessing of data SmartPesa Credible blockchain is settled in PESA tokens (“Tokens”). For example, payment for access to Merchant data is settled in Tokens Merchants while Merchants can use Tokens Data Origination and Validation services. Merchants can also pledge Tokens as collateral or sell using the SmartPesa CryptoATM
Tokens are priced in USD and payment can be made in ETH or BTC. The exchange rate is dynamically determined at the time of placing the order on our Token Sale website. There is no subsequent adjustment for changes in the value of ETH or BTC.
Interested investors can participate in the Token Sale through this website by clicking on the Token Sale button on this page and completing the registration and KYC steps. Terms and conditions apply.
Yes, SmartPesa is a FinTech that is in its 5th year of operations during which time, we built a great team, solid product and deployed in 5 countries with banks and acquirers.
We are a business with long contracts, real banks, real users, hundreds of thousands of transactions monthly and real revenues. This gives credibility to the team backing Credible with experience to roll-out and operational experience.
SmartPesa started following blockchain in early 2017. We did research and development on cryptocurrency payments, and filed a patent (with iPOS). Our team is familiar with nodes, confirmations, wallets and the underlying cryptography.
SmartPesa Credible is bigger than us. We have the right team and the data to kick it off but want all financial institutions to participate. This distributed data gathering, verification and consumption model lends itself to Blockchain.
Tokens are used for all payments on the blockchain including data creation, validation and consumption. The total supply is fixed and any unsold tokens will be burnt. Even as the data on the blockchain grows in size, the number of Tokens will never increase.
Yes. SmartPesa will facilitate escrowing of Tokens for purposes of loan collateral. SmartPesa will put the Tokens as the preferred cryptocurrency in its own Apps on both CryptoPay and CryptoATM.
Tokens are used by requestors to buy data. On data request, the token is transferred to the data owner who can hold it, hord it, or sell it. While the pricing is dynamic, requestors will be acquiring tokens for their purchasing of credit data
Yes, their incentive is to montetize their data. Businesses and merchants will receive tokens and use for verification, or sell them. This brings supply and demand on both sides ot the transaction.
Yes, the Token Sale is run through an online portal tracking the available tokens for sale, the exchange rates of accepted investment currencies, and the transactions of each investor.
We want to keep it simple. No frills or desperate sales tactics. Early investors in pre-sale assist our project to reach our softcap, and we require a certain minimum commitment for these placements.
The Token Sale has started. We are working with stratic investors on the support and backing of the Credible blockchain. Dates for pre-sale and a public crowdsale will be announced in due course.
While SmartPesa makes no guarantees at this stage, our efforts will be to release tokens within 10 days from end of public sale. Since we have prototypes and MVP, the token should be put in the hands of investors and merchants.
Yes. We were fully aware of the 25 May deadline. All our call to actions, signups and online forms are GDPR compliant with discloures and checkboxes for voluntary subscription to future communication.
Yes, we have to abide by the local and international laws of the respective regulations promulgated under the MAS Act, United Nations Act, and the Terrorism (Suppression of Financing) Act.