abril 17, 2017 | Posted in:Blog
Fiat Credit Can’t Cut It
Students, from developing countries in particular, who study in the US face difficulties obtaining credit — for them to afford basic living expenses, which is all too often vital.
That is based on an Indian student Kalpesh Kapadia and co-founder of SelfScore. SelfScore is a startup which uses»a different pair of approval metrics» to provide credit cards to those who would otherwise be denied them because of various US requirements.
«I went to open a bank account for [my cousin] and get a social security number, and I found it was impossible for her to get an SS number on day one,» Kapadia explains in an interview with Tech In Asia. «You must have a job.»
Security: the lack of a credit report or not only a job caused them to pay double the deposit on an apartment, a $500 USD deposit on a smartphone and be refused the everyday tool from the US — a vehiclejack and the beanstal bitcoin casino bitcoin casino no deposit bonus 2018 now|SelfScore} manages negotiations and audits while using more common sense standards to give pupils|SelfScore now manages audits and negotiations while using common sense criteria to give pupils|While using common sense criteria to give students the money they need selfScore manages negotiations and audits with credit institutions|While using common sense standards to give pupils the money they need selfScore now manages audits and negotiations with credit institutions}.
If a pupil has the money to study in the first place they need to make suitably reliable credit candidates.
Bitcoin: Solution in Waiting
While the traditional hurdles of the legacy financial system are shown up as ridiculous by the worldwide student example, the situation even for SelfScore’s 5000 applicants is still precarious and bitcoin mining vs casino.
Specifically, the problem begins when funds are in a different country — but bitcoin debit cards and remittance services are more than capable of providing an all-in-one solution.
Why tangle with fiat options at all, when even SelfScore needs personal information and»public information from the pupils collected by the US Department of Homeland Security»?
Bitcoin can be freely sent from anywhere to anywhere. A student in the US can purchase a debit card without any kind of buoyancy checks.
If a student had no access to funds to pay for the card, a meetup in person to exchange money for BTC through LocalBitcoins would fix this liquidity issue.
Together with the cards the need for emergency cash is catered for thanks to Bitcoin loans startups, such as Credible and BTCJam Friends, which are currently becoming more widespread in 2016.
With such a variety of debit card options available regardless of a person’s state of residence, even the downsides such as fees could be mitigated by the freedom the cardholder feels due to the safety of their personal details and the flexibility they likerunning a bitcoin casino best bitcoin casino promotions do you consider Bitcoin’s capacity to help pupils become more independent abroad? Have you had experience of it yourself? Tell us your thoughts in the comments below.
Images courtesy of Shutterstock, The Nation.