Recent Developments
Early Ripple and Coinbase Investor Greg Kidd Joins Libra Credit as Advisor. Greg Kidd is the CEO of globaliD and the co-founder of Hard Yaka, a principal investment firm based in San Francisco, California. He has served as an advisor and investor for numerous startups in the exchange space including Shift, Ripple and 3taps, and previously Square and Twitter. Formerly, Kidd was a director at Promontory Financial and a senior analyst for payments at The Board of Governor of the Federal Reserve, as well as a Senior Associate at Booz Allen.
Greg took his first company public almost twenty years ago on the Nasdaq, and has subsequently invested in 60+ firms in the payments, identity, and marketplace sectors. He specializes in portable identity, digital currencies and exchange markets for goods, services, and information with functional emphasis on messaging, payments, and reputation/trust/risk. His expertise in portable identity, digital currencies, and exchange markets is a valuable addition to our advisory team.
Libra Credit has received over $16 million in funding.
Hard cap: $26,400,000 ($14.4 million in private sale, $12 million in public sale) for 40% of total tokens
Conversion rate: 1 LBA = $0.1
Maximum market cap at ICO on a fully diluted basis: $66 million
Bonus structure: 20% discount during private round, no bonus for crowdsale
Private sale / white list: Whitelist for crowdsale opens now, no presale
ERC20 token: Yes
Countries excluded: USA, China
Timeline: Crowdsale from May 1 to 14, 2018 (please refer to Libra Credit’s website for the most up-to-date information)
Token distribution date: 5 days after ICO
Libra Credit Background
Access to credit should be hassle free, real-time and simple. However, traditional financing is channel,
product and geographic specific with onerous processes and outdated systems resulting in long cycle times and increased cost of capital. Heavy reliance on traditional lenders (e.g. banks, country centric P2P platforms) does not address future customer needs (i.e. getting credit when and where they need it and leveraging emerging crypto asset classes as collaterals).
Global lending is expected to grow at 14% over the next five years driven by a rise in digital ecosystems and technology disruption which makes lending to more than two billion under-banked population a closer reality. Given these significant tailwinds, a global and open digital platform is needed to shape the future of lending, making it accessible to anyone, anywhere.
Libra Credit is a decentralized lending ecosystem that facilitates open access to credit anywhere and anytime based on the Ethereum blockchain to be developed by Libra Foundation. Libra Credit will be launched in July 2018 with crypto-to-crypto and crypto-to-fiat lending underpinned by its industry-leading credit management capability and four distinctive partnership networks forming a world-class lending ecosystem that encompasses:
– In-house Proprietary AI-based Credit Model;
– Customer Acquisition & E-Wallet Partnership Network to drive adoption;
– Lenders & Stablecoin Partnership Network to drive liquidity;
– Extensive Exchange Partnership Network to minimize default;
– Identity Verification Partnership Network to expedite KYC & verification process.
Libra Credit is a global initiative by Libra Foundation with a mission “Credit for the Real World”. The team has a track record in digital credit services across Asia. Powered by its proprietary big data, AI-based credit assessment technology and existing global partnership networks, Libra Credit has the expertise and capabilities to realize its mission.
Libra Credit 45 page whitepaper.
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels.
A frequent speaker at corporations, he has been a TEDx speaker, a Singularity University speaker and guest at numerous interviews for radio and podcasts. He is open to public speaking and advising engagements.