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Credible Network (PESA) ICO Review

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Credible Network is a decentralized social networking platform that is putting users privacy and satisfaction as its first priority. It is an innovative approach towards transparent and independent means of user data ownership, reward on ads and free of speech. It is the first get paid to content creation and sharing ecosystem that leveraged OCR token payments for its reward system.

Essential Information

Ico TimeUnknown – Unknown
Token NameCredible Network
Token SymbolPESA
WhitepaperView Whitepaper
Website LinkHome
Price1 PESA = 0.09 USD
PlatformEthereum
Soft Cap5,000,000 USD
Hard Cap18,500,000 USD

More about Credible Network (PESA) ICO:

The PESA token is at the heart of the Credible Network: – All transactions across Credible take place in PESA – Merchants receive PESAs from 3rd parties for accessing their data – Merchants pay PESAs to Verifiers for verification services – Merchants can pledge PESAs as collateral for loans – Purchasers can Buy and Sell PESAs through SmartPesa CryptoATM – Customers can make payments in PESA for good and services.

At SmartPesa, we are driven by Financial Inclusion. Our SmartPay and Agency Banking solution was developed for EM countries by the co-founders who were born in and grew up in Africa. Still considered a FinTech startup, we are in our 5th year of operations and complete tens of thousands of transactions daily across over 8,000 merchants in 5 countries.

We have completed formal certifications with international organizations such as EMV, Visa, Amex and Mastercard; National Financial switches such as Bancnet, NIBSS and MEPS; PCI compliances; and successfully undergone numerous API integrations with 3rd parties. We support all local and international cards, Apple Pay, Samsung Pay and Google Pay as well as leading wallet providers like Alipay and WeChat Pay.

Our platform has been entirely developed in-house by our experienced FinTech engineers who allow us to respond quickly to changes in a fragmenting payment infrastructure marketplace. Our current capabilities extend beyond card payments at our POS, both horizontally (new payment types such as fiat wallets and cryptocurrency) and vertically (new transaction types including cash withdrawals, bill payments, airtime loading, remittances and transfers).

We entered the blockchain space in 2017 and have added cryptocurrency payment acceptance through our SmartPesa CryptoPay product and the buying and selling of cryptocurrencies through SmartPesa CryptoATM.

Our focus is to reduce the complexity of an increasingly fragmenting payments system into a seamless, consistent merchant experience. Merchants want a simple tool for accepting electronic payments across multiple different modes – cards, mobile, QR codes and crypto. We provide a unified Mobile App and POS terminal for easy payment acceptance, consolidated transaction history, and automatic reconciliation.

Credible is the only global distributed ledger to store business credit data on the blockchain in a way that disrupts the incumbent credit bureaus and inefficient loan processes.

And we’re doing this to solve the $5.2 trillion funding gap suffered by SMEs each year who struggle to gain credit because of a lack of trustworthy data.

SmartPesa is the team behind Credible. It is an experienced payments and agency banking FinTech which has been powering transactions for over 8,000 business owners in 5 countries since 2014. SmartPesa’s regulatory and standards compliant platform-as-a-service provides a range of financial services across the last mile in Emerging Markets. It can be deployed on-premises or in the cloud and supports international and local cards, wallets, APIs as well as cryptocurrencies.

Credible is the SmartPesa’s team 3rd Blockchain project after successfully rolling out CryptoPayments and CryptoATM which are part of the SmartPesa product suite. We see our role as developing the first wave of Credible, helping to add data and becoming the first TEA.

At SmartPesa, we are driven by Financial Inclusion. Our SmartPay and Agency Banking solution was developed for EM countries by the co-founders who were born in and grew up in Africa. Still considered a FinTech startup, we are in our 5th year of operations and complete tens of thousands of transactions daily across over 8,000 merchants in 5 countries.We have completed formal certifications with international organizations such as EMV, Visa, Amex and Mastercard; National Financial switches such as Bancnet, NIBSS and MEPS; PCI compliances; and successfully undergone numerous API integrations with 3rd parties. We support all local and international cards, Apple Pay, Samsung Pay and Google Pay as well as leading wallet providers like Alipay and WeChat Pay.Our platform has been entirely developed in-house by our experienced FinTech engineers who allow us to respond quickly to changes in a fragmenting payment infrastructure marketplace. Our current capabilities extend beyond card payments at our POS, both horizontally (new payment types such as fiat wallets and cryptocurrency) and vertically (new transaction types including cash withdrawals, bill payments, airtime loading, remittances and transfers). We entered the blockchain space in 2017 and have added cryptocurrency payment acceptance through our SmartPesa CryptoPay product and the buying and selling of cryptocurrencies through SmartPesa CryptoATM.

While other systems focus on static data such as KYC due to its longevity, it is insufficient to allow lenders to make credit decisions. Lenders also need dynamic data which is highly valuable but only for a limited time and thus needs regular updating over time. The last quarter’s sales for example is much more important than the same quarter a year before. Any credit system therefore needs to have incentives built-in for participants to continually add fresh new data. The Token flow model below covers how this is achieved with Credible. Data sources include both SmartPesa sourced data, public data and 3rd party generated data. All data is dynamically analysed using AI/ML on a cross weighting basis to reach a credit score which is also made known to the Merchant. Tips are provided as to how a Merchant can improve their score through increased data creation, attestation and verification. Credit data and/or credit reports can be purchased by 3rd parties (“Users”) with the permission of the Merchant granted through their mobile App on an opt-in/opt-out policy basis to preserve Merchant rights.Users include banks, credit bureaus, lenders, advertisers, government, insurers and other financial institutions that provide services to Merchants. Access is provided by API and mobile/web interfaces for search, filtering and purchasing of data both vertically (comprehensive data set on a single Merchant), or horizontally (a subset of data across multiple Merchants). Records can be accessed one-by-one, as classes or en masse on an ad hoc or subscription basis with prices adjusted according to volume, quality and value. Credible Tokens are a practical solution to the credit information problem in emerging markets providing methods for continual updating of information, purchasing of credit data and enabling lending.Payments on the Credible network are in Tokens. Users pay Tokens to Merchants for their data while Merchants can use Tokens for data verification and services by 3rd parties. Merchants can even pledge Tokens as loan collateral, or sell to investors using our CryptoATM.

General information

This white paper is issued by SmartPesa Pte. Ltd. (Registration No. 201812308N), a private company limited by shares incorporated in Singapore, (“SPPL”).This white paper constitutes a description of the token sale (“Token Sale”) for the sale of the Credible Network tokens (“Tokens”) and the functionality of the Tokens. This white paper does not constitute a prospectus or offer document of any sort and is not intended to constitute an offer of securities or a solicitation for investment in securities in any jurisdiction. This white paper also does not constitute advice to purchase any of the Tokens nor should it be relied upon in connection with any decision to purchase the Tokens. This white paper is prepared based on the current views and plans of SmartPesa group of companies (“SmartPesa”). SPPL reserves the sole and absolute discretion to revise, alter, add or delete any matter described in this white paper from time to time by posting the updated white paper on www.smartpesa.io. Such updated white paper shall become effectively immediately from the time of posting.

Token Sale

The purpose of the Token Sale is to raise funds so that SmartPesa may develop a new blockchain solution known as “Credible Network” (“Credible”), launch operations into promising countries, scale existing operations and grow the team in technology and business development.Unless otherwise agreed by SPPL in writing, the sale of all Tokens by SPPL during the Token Sale shall be governed exclusively by the Token Sale Terms and Conditions at www.smartpesa.io. No person is bound to purchase any of the Tokens, and no purchase or payment would be accepted, on the basis of this whitepaper. In the event of any conflict or inconsistency between the Token Sale Terms and Conditions and this whitepaper or any other document, the Token Sale Terms and Conditions shall prevail to the extent of the conflict or inconsistency unless otherwise specified in writing by SPPL. As detailed in the Token Sale Terms and Conditions, the Tokens carry no rights other than (i) a limited right to hold and transfer the Tokens, and (ii) a limited right to use and interact with Credible if, and to the extent that, Credible is successfully developed and deployed, in accordance with such terms and conditions prescribed by SPPL. The Tokens do not entitle their holders to any voting rights or dividends, and are not intended to constitute securities in any jurisdiction.

Risks

Participation in the Token Sale and purchase of the Tokens carry with it significant risks. If any such risk materialises, it could have a severe negative impact on any of the Token Sale, the Tokens, Credible and SmartPesa. Accordingly, please carefully review and assess the terms applicable to the Tokens and the Token Sale, as well as the risks involved (including those listed in the Token Sale Terms and Conditions) before deciding whether or not to participate in the Token Sale.

Disclaimer

The contents of this white paper is of a descriptive nature for information only, and is not binding. Such information has been compiled by SPPL from sources believed to be reliable. Some of this information may be forward looking in nature and based on certain assumptions. All statements other than statements of historical facts included in this white paper, including, without limitation, statements regarding business strategy and plans, estimates of returns or performance, and objectives for future operations, are forward looking statements. In addition, forward looking statements can generally be identified by the use of forward looking terminology such as “may”, “will”, “should”, “expect”, “anticipate”, “estimate”, “intend”, or “believe”, their respective negatives and other comparable terminology.Nothing in this white paper is a representation, warranty or undertaking of the accuracy or fulfilment of any particular matter stated in the white paper at any given point in the future, and SPPL specifically disclaims any representation or warranty that it will execute any action or guarantee specific results regarding any matters described herein this white paper. The information presented in this white paper is for reference only and is not legally binding on SPPL, SmartPesa or any other parties.

Language

This white paper and related materials are issued in English only. Any translation is for reference only and in the event of any conflict or inconsistency between a translation and the English version of this white paper, the English version shall take precedence over the translated version.

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Credible Network (PESA) ICO Scam or Not?

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