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Maximum Automation and Smart Scoring

Karma’s task is to automate the process of interaction between the participants in such a way that the service does not require a physical presence during the transactions. To do so, Karma would have:

  • Ready-to-use templates of electronic loan and guaranteed contracts
  • Assignment of obligations
  • Insurance of credit and currency risks
  • Collective lawsuits
  • Registration and release of collateral
  • A minimum time for obtaining a credit and easy maintenance for borrowers
  • Automated scoring
  • Single escrow account for all settlements
  • Payments to multiple investors by one payment

Karma is also using smart scoring on its platform. The smaller the proportion of collateral from the loan party, and the less familiar the counter-agents are with the party, the greater the importance scoring is in evaluating the borrower's request.

Karma’s second task is to create a space in which many localized scoring systems will be combined with different countries and different types of relationships. Now, the scoring system would initially consider:

  • General information
    • Sexual orientation
    • Age
    • Marital status
    • Guarantors
    • Availability of Court proceedings
    • Credit history of the borrower
    • Criminal records
  • Financial information
    • Real estate holdings
    • Automobiles
    • Financial level in business
    • Other credit obligations
  • Behavioral information
    • Analysis of social networks, activity, friends
    • Analysis of movements around the world
    • Analysis of preferences - restaurants, cars, etc.
    • Violations of traffic rules
    • User’s work with a mobile phone

Each of these indicators would have its own weight in the overall assessment. Later, machine learning tools would be able to determine the most important parameters which will help to assign the greatest weight to the most important parameters and less important parameters will be minimized or excluded.

Now that we have gone over Karma’s ecosystem and its decentralization of IT and geography, let’s look at the token utility.