際際滷

際際滷Share a Scribd company logo

Friend Microcredit

Download as PPTX, PDF
C辿dric Warny
C辿dric Warny

Easy-to-use mobile app offering a follow-up service of off-line cash exchanges/short-term peer-to-peer microcredit within communities of mutually-trusted people, with real-time clearing of mutual obligations and designated-time direct-debit net settlement.

1 of 13
Download to read offline
Project
Vision Easy-to-use mobile app offering a follow-up service of off-line cash exchanges/short-term peer-to-peer microcredit within communities of mutually-trusted people, with real-time clearing of mutual obligations and designated-time direct-debit net settlement
Principle Within a circle of trusted friends, there are often off-line exchanges of cash Punctual Man, Im short of cash can illiquidity you advance me? OK guys, lets not split hairs Convenience here, Ill foot the bill, youll pay me back later Wouldnt it be great to have a system to keep track of these exchanges and automatically settle mutual imbalances?
People choose friends and form circles of mutually trusted people 1 existing social networks Pick up trusted friends from 2 Import 3 mutually trusted friends Each circle is composed of As Facebook Friends B錫 R Circle 1 C錫 D A C Circle 2 Bs Facebook Friends A R C錫 J D B Cs Facebook Friends E A E F B D F Ds Facebook Friends G C錫 F Y Circle 3 E錫 X Note: C and F happen to belong to two Etc. different circles
Friends make off-line exchanges of money To whom did you just hand out money?
Notifying Hey. Just handed 9.7 you $ = 5.3 + 3.4 + 1 0 Can you Salma confirm?
Acknowledging On Salmas phone The system records the transaction and recognizes an obligation from Salma to You Push notification [Name of platform] Hey. Just handed you Other 9.7$ You mutual Can you confirm? friend YES NO 9.7 Salma
Within a circle, mutual obligations are centralized and cleared in real time Time Event Social graph Real-time clearing per circle 0 A D A C F C F C F G B E B E D G 1 A hands 3 to B A C F -1 C +2 F A D +3 E hands 1 to C C F hands 2 to G 3 1 -3 F G -2 E 2 B E +1 D G B 2 B hands 2 to C A C F -1 C +2 F A C D +3 -2 3 1 -1 2 F G -2 E 2 B E +1 D G B 3 E hands 5 to D A C F -3 -1 C +2 F E hands 3 to F A C D +3 5 -2 3 -1 -5 1 G -2 2 B E 3 F 2 B E +9 D G 4 C hands 4 to A A C F -3 -1 C +2 F A 4 C D -1 5 +2 3 -1 -5 1 G -2 2 B E 3 F 2 B E +9 D G
At a designated time, the system automatically settles the mutual obligations per circle Circle 1 Circle 2 Circle 3 A -1 +2 C F -3 -1 C +2 F -1 +9 -5 -2 B E D G C is net creditor in circle 1: +2 C is net debitor in circle 2: -1 No cross-circle clearing possible to avoid situation where a net creditors refund depends on the solvability/liquidity of someone n degrees of trust away Direct debit agreement When subscribing to the platform, users agree to a direct debit framework whereby they authorize the payee (the platform) to collect the amount due directly from the payers account. Settlement At settlement time, the platform debits the net debitors bank accounts and makes money transfers to the net creditors
Settling Monthly settlement 4 Collects amount due 7 Money transfer Sends amount due 2 Creditor-bank direct debit Net debitors Platforms Net creditors agreement (contract) bank bank bank Sends Credits Orders Debits net In other words, its a system of amount platforms money Net creditors debitors bank short-term,account transfer due peer-to-peer bank account is account 3 1 microcredit 6 5 refunded 8 Platform-debitor direct debit Net debitor agreement (mandate) Platform Net creditor Owes to Lends to Circle 1 As account is debited by 1 A -1 +2 C Bs account is debited by 1 -1 Cs account is credited by 2 B
Weaknesses 1. Risk of counterparty illiquidity/insolvability But, hey: - Theyre small amounts - Theyre friends/trusted people 2. Business model easily reproducible But, hey, which business model is not? 3. What if off-line pre-DTNS* settlement? Its just like any other loan just dont forget to notify it on the platform 4. Wont I look like a skinflint? * Designated-Time Net Settlement
Appendix
B2C SEPA Direct Debit Mandate Template Mandatory fields Unique mandate reference Name, address, postal code, country of residence of debtor Debtors IBAN number BIC code debtor bank Creditor company name Creditors identifier Address, postal code, country of the creditor Type of payment Contract Reference Signature place and time and signatures Creditor can decide on the format The dematerialised Mandate-related information is transmitted by the Creditor Bank to the Debtor Bank as part of each Collection, in one single flow

More Related Content

Friend Microcredit

  • 2. Vision Easy-to-use mobile app offering a follow-up service of off-line cash exchanges/short-term peer-to-peer microcredit within communities of mutually-trusted people, with real-time clearing of mutual obligations and designated-time direct-debit net settlement
  • 3. Principle Within a circle of trusted friends, there are often off-line exchanges of cash Punctual Man, Im short of cash can illiquidity you advance me? OK guys, lets not split hairs Convenience here, Ill foot the bill, youll pay me back later Wouldnt it be great to have a system to keep track of these exchanges and automatically settle mutual imbalances?
  • 4. People choose friends and form circles of mutually trusted people 1 existing social networks Pick up trusted friends from 2 Import 3 mutually trusted friends Each circle is composed of As Facebook Friends B錫 R Circle 1 C錫 D A C Circle 2 Bs Facebook Friends A R C錫 J D B Cs Facebook Friends E A E F B D F Ds Facebook Friends G C錫 F Y Circle 3 E錫 X Note: C and F happen to belong to two Etc. different circles
  • 5. Friends make off-line exchanges of money To whom did you just hand out money?
  • 6. Notifying Hey. Just handed 9.7 you $ = 5.3 + 3.4 + 1 0 Can you Salma confirm?
  • 7. Acknowledging On Salmas phone The system records the transaction and recognizes an obligation from Salma to You Push notification [Name of platform] Hey. Just handed you Other 9.7$ You mutual Can you confirm? friend YES NO 9.7 Salma
  • 8. Within a circle, mutual obligations are centralized and cleared in real time Time Event Social graph Real-time clearing per circle 0 A D A C F C F C F G B E B E D G 1 A hands 3 to B A C F -1 C +2 F A D +3 E hands 1 to C C F hands 2 to G 3 1 -3 F G -2 E 2 B E +1 D G B 2 B hands 2 to C A C F -1 C +2 F A C D +3 -2 3 1 -1 2 F G -2 E 2 B E +1 D G B 3 E hands 5 to D A C F -3 -1 C +2 F E hands 3 to F A C D +3 5 -2 3 -1 -5 1 G -2 2 B E 3 F 2 B E +9 D G 4 C hands 4 to A A C F -3 -1 C +2 F A 4 C D -1 5 +2 3 -1 -5 1 G -2 2 B E 3 F 2 B E +9 D G
  • 9. At a designated time, the system automatically settles the mutual obligations per circle Circle 1 Circle 2 Circle 3 A -1 +2 C F -3 -1 C +2 F -1 +9 -5 -2 B E D G C is net creditor in circle 1: +2 C is net debitor in circle 2: -1 No cross-circle clearing possible to avoid situation where a net creditors refund depends on the solvability/liquidity of someone n degrees of trust away Direct debit agreement When subscribing to the platform, users agree to a direct debit framework whereby they authorize the payee (the platform) to collect the amount due directly from the payers account. Settlement At settlement time, the platform debits the net debitors bank accounts and makes money transfers to the net creditors
  • 10. Settling Monthly settlement 4 Collects amount due 7 Money transfer Sends amount due 2 Creditor-bank direct debit Net debitors Platforms Net creditors agreement (contract) bank bank bank Sends Credits Orders Debits net In other words, its a system of amount platforms money Net creditors debitors bank short-term,account transfer due peer-to-peer bank account is account 3 1 microcredit 6 5 refunded 8 Platform-debitor direct debit Net debitor agreement (mandate) Platform Net creditor Owes to Lends to Circle 1 As account is debited by 1 A -1 +2 C Bs account is debited by 1 -1 Cs account is credited by 2 B
  • 11. Weaknesses 1. Risk of counterparty illiquidity/insolvability But, hey: - Theyre small amounts - Theyre friends/trusted people 2. Business model easily reproducible But, hey, which business model is not? 3. What if off-line pre-DTNS* settlement? Its just like any other loan just dont forget to notify it on the platform 4. Wont I look like a skinflint? * Designated-Time Net Settlement
  • 13. B2C SEPA Direct Debit Mandate Template Mandatory fields Unique mandate reference Name, address, postal code, country of residence of debtor Debtors IBAN number BIC code debtor bank Creditor company name Creditors identifier Address, postal code, country of the creditor Type of payment Contract Reference Signature place and time and signatures Creditor can decide on the format The dematerialised Mandate-related information is transmitted by the Creditor Bank to the Debtor Bank as part of each Collection, in one single flow