BTCjam is the first global peer-to-peer lending company powered by Bitcoin. It is based in San Francisco and was founded by Celso Pitta, Brazilian software engineer.

BTCjam developed a proprietary credit-scoring algorithm that allows users in countries that lack credit scoring to qualify for loans. The algorithm analyzes the user's social networking profiles such as Facebook and LinkedIn, as well as their E-Commerce History using eBay and PayPal.

Because of its global nature, BTCjam can connect lenders from the developed world to borrowers in developing nations. Since interest rates in developing nations are much higher than they are in developed west, BTCjam and Bitcoin creates a uniquearbitrage opportunity allowing both lenders and borrowers to benefit.

BTCjam was part of 500 Startups and raised money from Ribbit Capital and Funders Club.

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