Merit Scores
What is Merit Scores about?
Merit will revolutionize the credit reporting and lending industries. Beyond the classic credit score as we know it, Merit will provide an individual, personally-controlled profile made up of factors that you determine are reflective of your true and accurate credit worthiness, or your “Merit”. Significant and individually relevant data can be combined with a classic credit score to facilitate a more accurate and fast credit worthiness evaluation.
Applications and approvals related to complex transactions will be easier, as the User and credit provider will be able to digitally and instantly request and provide necessary and relevant data. Credit providers will also be able to select groups of Users, based on specific, searchable data criteria, who qualify for specific offers.
Data will be stored, shared and secured on the blockchain. Users will share their selected and relevant data via hashed unique keys purchased with Merit Tokens. The ultimate goal is to create a world-wide credit worthiness for everyone, your Merit.
What is the value proposition?
In the United States, credit reporting and related analysis of creditworthiness is controlled by three major agencies: Equifax, TransUnion and Experian (together, “Credit Agencies”). This is a system that dates back to the 1950s. Historically, credit ratings are based on only five limited factors: payment history (35%), debt burden (30%), length of credit history (15%), type of credit used (10%) and recent searches (10%). The weighted attribution and lack of other relevant information has created a limit to determining true creditworthiness.
It will also help address Identity Theft issues that plague everyone.
If you can verify your identity safely and securely, can have a relevant credit worth profile, you can not only become and active participant in borrowing, but you can also become a lender.
All of this is meant to on your terms as something you, as an individual controls.
And while ambitious in scope, ultimately to become the standard used worldwide.
The Merit token
Max supply will be 500M.
50% will be the public offering.
13% will be used for affiliate and phase rewards.
Merit tokens not sold during the ICO sale from the Marketing and Public pools will be burned. Reserved Tokens will be used for strategic partnerships and the stability of Merit. These are not for the 'team', but for Merit. Restricted Tokens will be released to the team at a rate of 5% per month starting 30 days after the close of the ICO. This is controlled by a Smart Contract.
Roadmap
Team members
Advisors
Strengths
- Realistic roadmap that could definitely be achieved if the funding raised is high enough
- Unsold tokens get burned
Potential concerns
- Team members are hard to verify. Most of the members have connections to each other and seem to be associated with the project through Digital Domain Interactive
- Social media communities are fresh with around 1-3 members in each at the time of review
- Hard cap seems highly unrealistic considering the product
- No media coverage found, poor visibility on the project
The website and whitepaper in my opinion doesn't look visually that great. There are just so many funky bits all over.
Social media communiteis eg. Twitter and Telegram are fresh and small. We do expect these numbers to grow as the project progresses. Overall visibility on the project is poor. There are no media articles or reviews found on organic Google searches.
Soft cap is $500k and it really doesn't cut the costs of developing the product. Then on the other hand the hard cap is $100M which is highly unrealistic. The high hard cap really doesn't matter the initial valuation since unsold tokens get burned but it has significant effect on the token allocation percentages for the team and company itself.
