CHINESE BAIDU RE-INVEST in US companies

Chinese search engine Baidu will move in a direction that will sooner or later lead him to bitcoin again.

The company continues to be treated with the growing interest in cross-fintehu in connection with the Asian giant and the world's leading US market by investing in a second American company finteh month.

Recently, Baidu has invested in the US company blokcheyn, Circle Internet Financial Inc. At this time, it invests not disclose the amount of Zest. His plan is to develop credit scoring platform in the Chinese market, whose traditional credit system is broken.

Polumilliardny market of China's population

The technical platform that uses Google mathematics for lending decisions, was established by the former director of the Information Technology Google, Douglas Merrill (Douglas Merrill).

Zest is using its platform for lending trustworthy, responsible customers, which other lenders are simply overlooked. His access to the Chinese market would allow a large number of people who deserve to loans, but live in a cash economy without formal banking, to receive them.

Zest on its website wrote that more than half a billion people in China do not have a credit history. The lack of data complicates the process of determining credit risk, but the platform will help in this, creating a credit history from scratch.

The American company will use the application, which is able to handle a huge amount of customer data, providing a higher rate of repayment to the lenders and lower cost loans to consumers.
It will rely on the few operating in parallel mathematical models that do not require human intervention, and will be able to make accurate decisions in less than 10 seconds, unlike other creditors, who takes it a few hours or days.

Bitcoin in 2013

China provides a huge opportunity for Zest, because there is no centralized credit bureau, as in the US.

Baidu has stopped using bitcoin in 2013 after the Central Bank has banned the country's financial institutions to process transactions, what caused the drop in prices cryptocurrency.

However, due to this step, as well as a variety of friendly gestures from the Chinese government to bitcoin, including large-scale action of miners in the country, it would be appropriate to China's largest search system prinimatbitkoyn start again.