Untangled Finance and Moody’s Scores have accomplished a Proof of Idea to maneuver credit score rankings on-chain by testing a system to permit for decentralized entry to Moody’s monetary information.
The proof-of-concept, performed on the Polygon Amoy Testnet, built-in Moody’s Scores into Credio, Untangled Finance’s threat oracle. Utilizing zero-knowledge proof (ZKP) expertise, the system allowed credit score rankings to be securely printed, up to date, and withdrawn on-chain whereas defending proprietary info.
“Our oracle resolution ensures real-time information visibility and immutability whereas preserving privateness,” stated Manrui Tang, co-founder of Untangled Finance, in a launch.
Bringing credit score rankings on-chain might make threat evaluation extra clear and environment friendly, permitting DeFi protocols and different blockchain-based functions to combine real-time credit score information 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 traders to lend USDC beneath Luxembourg securitization guidelines.
