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Wednesday, 5 October 2016

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See For Yourself» Things You Need To Know About MMM

From Michael G. Cecilio MMM team

What is MMM?

We will tell you about the MMM Community in detail, about its ideas, the work principle and the purpose. But, if you first want to get a general idea about our Community, read “Regulations”, and then return to this page MMM is a global mutual aid community.

How do we help each other?

We donate money. In today's world, all people need money – one, who has no money, is.....
supported by somebody else. The Community members donate money peer-to-peer to each other. MMM only connects the donator and receiver.

MMM is a financial social network, where people sign up, specify their contact details, as well as the account which they want to receive the money on. You might be at a loss:

“Why would anybody need to donateme money? ”Why do participants of MMM donate money to each other?

Have you ever given money to a stranger? Or have you ever received money as a gift from a stranger? Probably not. But think: isn’t it reasonable for a person, when he has money to spare (money that he doesn’t need at the moment), to give it to his close people and then, when he needs it, to get it back as a gift?

 In fact, this practiceis not new, its roots go deep into the wisdom of ancient times, and even has been preserved in communities ofdifferentnations of the world. Their members still help and support each other through local mutual funds. But the disadvantage of the localmutual fund is that it unites a small group of people familiar with each other.

Therefore, absolutely different system of financial relations dominates in the modern world – its central placebelongs to the banks. So, when people have spare money, they put it on a bank account. And when they need money, they borrow it from banks as a loan. Loan interest rates are always higher than deposit interest rates –this margin is the profit of the banks.

But you must admit: if it were possible, instead of a loan from the Bank,toget donation from other people at the right time, it would be more profitable (there wouldbe no need in paying intermediaries), more convenient (you would return the money when you can, but not by the deadline) and safer (no one could seize your property for non payment of debt).

The problem is sure to be the lack of trust between people: “How can I be sure that if I donate today, tomorrow somebody will donate me?” In order to solve the problem, people have joined in MMM: we create the Community whose members can really trust each other. There are no legal guarantees in MMM, but there is awell-established algorithm for providing and receiving assistance.