Untangled Finance and Moody’s Scores have accomplished a Proof of Idea to maneuver credit score scores on-chain by testing a system to permit for decentralized entry to Moody’s monetary knowledge.
The proof-of-concept, carried out on the Polygon Amoy Testnet, built-in Moody’s Scores into Credio, Untangled Finance’s danger oracle. Utilizing zero-knowledge proof (ZKP) know-how, the system allowed credit score scores to be securely revealed, up to date, and withdrawn on-chain whereas defending proprietary info.
“Our oracle solution ensures real-time data visibility and immutability while preserving privacy,” stated Manrui Tang, co-founder of Untangled Finance, in a launch.
Bringing credit score scores on-chain may make danger evaluation extra clear and environment friendly, permitting DeFi protocols and different blockchain-based functions to combine real-time credit score knowledge with out reliance on centralized intermediaries.
This follows Untangled Finance’s 2024 transfer to launch a $6 million personal credit score pool on Celo, as CoinDesk beforehand reported, which allowed accredited buyers to lend USDC below Luxembourg securitization guidelines.
