The Colendi team had a busy week. Here are just some of the things we’ve been working on to improve access to credit for the underbanked and unbanked around the globe:
This week we have announced a very important development in the product side.
Colendi will release the alpha product to its community soon. Three integral elements of Colendi Product — Colendi ID, Colendi Score and Colendi Wallet — are introduced in the alpha product.
- Colendi ID: Colendi ID is the self-sovereign digital identity that Colendi provides its users in order to include their relevant information in a private and protected model.
- Colendi Score: Colendi Score is a digital score that is uniquely calculated by our protocol for each user. The protocol is trained to calculate a Colendi Score with the social media data, smartphone data, transactional data, phone data and over 1,000 pieces of personal information. The algorithm then stores this score on the smart contracts of the Ethereum blockchain, meaning it becomes a decentralized Colendi Score.
- Colendi Wallet: This is where users can manage their Colendi Tokens (CODs). With a Colendi Wallet, users can send and receive COD as well as oversee their transactions. On top of the existing features, users will soon be able to list the integrated merchants within the Colendi network and apply for microcredits.
Interested in learning more about Colendi’s alpha project?
Would you like to contribute to Colendi Project by volunteering for the alpha product and helping us with QA testing? If so, click the link below and leave your contact information. Get in line to be one of the firsts to use the Colendi application and we will reach out and include you in our development process.
We look forward to hearing from you and changing the future of microcredit.
Also on the events side, we have been very active especially in the meetings in Asia
– On July 2, Oguz was at TechCrunch Hangzhou 2018.
On the media side;
– CNBC Africa spoke with Bulent Tekmen for a story about the unbanked in Africa and how Colendi can improve things for people in this region. Watch here
– Colendi published a blog post about the problems with traditional credit scoring systems and Colendi works to solve these issues.