Zoracles Journey from Credit Scores to Financial NFTs

A credit score is a statistical value or number that helps lenders assess the creditworthiness of their customers based on their past credit and repayment history. Zoracles has developed an on-chain solution called the Zora Score to calculate the creditworthiness of an Ethereum wallet based on factors such as the age of the wallet, DeFi activity, and loan repayment. Credit scores are standard in traditional finance and are necessary for making and issuing loans. Zoracles has developed an API for Zora Score that allows decentralized crypto lending platforms to not require collateral due to....

Releasing the results of its first credit score on the Aave Protocol, a decentralized credit scoring mechanism called Cred Protocol is set to expand to Compound and MakerDAO. Cred Protocol, a decentralized credit scoring startup has unveiled the results of its first automated credit scoring system for users of decentralized finance (DeFi).Cred Protocol CEO Julian Gay outlined the results in a Twitter thread, which showed how Cred successfully utilized past transaction behavior on the Aave protocol to assess the creditworthiness of future borrowers based on on-chain behavior in the DeFi....

Borrowing and lending are two important parts of DeFi, but they have been missing an effective operating credential: a decentralized credit rating. The concept of lending and borrowing is as old as time itself. Regarding finances, while some individuals have more than enough for themselves, others barely have enough to get by. As long as there is this imbalance in finance distribution, there will always be a need to borrow and a desire to lend.Lending involves giving out a resource on credit with the condition of it being returned upon an agreed period of time. In this case, such resources....

A newsstand located in downtown New York is now accepting bitcoin for purchases. The owner, identified in a newly posted YouTube video as Kay, says he is the first newsstand in the city of 8 million to take the virtual currency. Kay's stand, located on 34th street and 2nd avenue, sells typical newsstand fare, including: cigarettes, prepaid phone cards, magazines and snacks. Perhaps the most noteworthy aspect of the business, however, is that Kay accepts bitcoin, but does not take credit cards. He explained: "I think it's riskier dealing with credit card companies than it is with bitcoins.....

In a recent report, Cred Protocol just disclosed its first credit scores for decentralized finance users. The protocol is a decentralized credit scoring startup based on the Aave Protocol. Cred Protocol is headquartered in San Francisco and runs with a team of 9 personnel. The firm operates with part of the goal of making decentralized […]