Fiat Credit Can’t Cut It
International students, from developing countries in particular, who study in the US face difficulties that is too vital for them to afford basic living expenses.
That’s according to Kalpesh Kapadia, an Indian student and co-founder of SelfScore. SelfScore is a startup that uses”a different pair of approval metrics” to provide credit cards to those who would otherwise be denied them due to various US requirements.
“I went to open a bank account for [my cousin] and receive a social security number, and I found it was impossible for her to obtain an SS number on day one,” Kapadia explains in an interview with Tech In Asia. “You should have a job.”
Social security: the absence of a credit report or not only a job caused them to pay double the deposit on an apartment and be refused the everyday tool from the US — a carbitcoin casino us review best casino bitcoin bonuses now|SelfScore} manages negotiations and audits with credit institutions while using more common sense standards to give pupils|SelfScore now manages audits and negotiations with credit institutions while using common sense standards to give students|While using common sense criteria to give pupils the money they want selfScore handles negotiations and audits with credit institutions|While using more common sense criteria to give pupils the money they want selfScore now manages audits and negotiations with credit institutions}.
If a student has the money to study in the US in the first place they need to make credit candidates.
Bitcoin: Option in Waiting
While the traditional hurdles of the legacy financial system are shown up as absurd by the worldwide student example, the situation even for SelfScore’s 5000 applicants remains precarious and bitcoin mining vs casino.
The issue begins when funds are in a different country — but bitcoin debit cards and remittance providers are more than capable of providing an all-in-one solution.
Why tangle with fiat alternatives at all, when even SelfScore needs personal information and”public information from the students gathered by the US Department of Homeland Security”?
Bitcoin can be freely sent from anywhere to anywhere. A student in the US can buy a debit card that is bitcoin without any kind of buoyancy checks.
If a student had no access to funds a quick meetup in person to exchange money for BTC through LocalBitcoins would solve this specific liquidity issue.
Together with all the cards, even the demand for emergency money is catered for thanks to Bitcoin loans startups that are peer-to-peer, such as Credible and BTCJam Friends, which are becoming more widespread in 2016.
With such a variety of debit card options available regardless of one’s country of residence, the freedom that the cardholder feels due can mitigates even the downsides such as feesbitcoin casino promo code bitcoin casino list submit do you consider Bitcoin’s potential to help students become more independent overseas? Have you ever had experience of it yourself? Tell us your thoughts.
Images courtesy of Shutterstock, The Nation.