Fiat Credit Can’t Cut It
Students, from developing nations in particular, who study in the US face difficulties for them to afford basic living costs, which is all too vital.
That’s according to an Indian student Kalpesh Kapadia and co-founder of SelfScore. SelfScore is a startup that uses”a different pair of acceptance metrics” to give 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 discovered it was impossible for her to get an SS number on day one,” Kapadia explains in an interview with Tech In Asia. “You should have a job.”
Not only a job or social security: the absence of a credit report caused them to pay double the deposit on an apartment and be denied the fundamental everyday tool in the US — a vehiclefree bitcoin casino no deposit bitcoin casino android app now|SelfScore} manages negotiations and audits while using more common sense standards to give pupils the money they want|SelfScore handles audits and negotiations with credit institutions while using common sense standards to give students|While using more common sense standards to give students selfScore handles negotiations and audits with credit institutions|While using more common sense standards to give pupils the money they want selfScore handles audits and negotiations with credit institutions}.
If a pupil has the money to study in the US in the first place they should surely make credit candidates.
Bitcoin: Option in Waiting
While the traditional hurdles of the legacy financial system are shown up as absurd by the international student example, the situation even for SelfScore’s 5000 applicants is still precarious and bitcoin mining vs casino.
Specifically, the issue begins when funds are in another country — but bitcoin debit cards and remittance providers are already capable of supplying an all-in-one solution.
Why tangle with fiat options at all, when even SelfScore requires personal information and”public information from the pupils gathered by the US Department of Homeland Security”?
Bitcoin can be freely sent from anywhere to anywhere. A student in the usa can buy a bitcoin debit card with no form of financial buoyancy checks.
If a student had no access to funds to cover the card, this specific liquidity issue would be solved by a fast meetup in person to exchange money for BTC via LocalBitcoins.
Together with the cards, even the demand for emergency cash is catered for thanks to Bitcoin loans startups that are peer-to-peer, such as BTCJam and Credible Friends, which are currently becoming more widespread in 2016.
With such a number of card options available one’s country of residence, even the downsides such as fees can be mitigated by the freedom the cardholder feels because of the security of their information and the flexibility they enjoyEthereum Sweepstakes site do you think about Bitcoin’s potential to help students become more independent abroad? Have you had experience of it yourself? Tell us your thoughts.
Pictures courtesy of Shutterstock, The Nation.