Colendi Weekly Update | 27 August – 02 September

3 min read

The summer is over and Colendi Token Sale is ever closer. Many media coverages, marketing campaigns, new interviews went live over the last week. In that there were many firsts and grande coverages which we presume were quite motivational developments to Colendi fans.

 

Partnership

Colendi officially announced a partnership with Enigma. Enigma is a permissionless, peer-to-peer network that allows for ‘secret contracts’ with accuracy and privacy guarantees. Colendi sees Enigma’s secret contracts and secure Multi Party Computation (sMPC) environment as an immense development opportunity to enable Colendi services. Colendi ID and our scoring algorithm require sensitive information from borrowers — including national identification numbers and bank statements — to verify their existence and the accuracy of any data provided. Enigma ensures that this data will remain safely hidden and uncompromisable in the event of a hack.

The partnership will begin with the technical integration of the two protocols.

Following are some key benefits Colendi will achieve from its relationship with Enigma:

  • Enigma’s secret contracts allow us to store relations between data providers and users with parameter-hiding property.  Data providers in the Colendi ecosystem will submit information on behalf of users without exposing anything.
  • Social media data is one of the most important components of Colendi ID. While secret contracts allow us to store access tokens, off-chain computation allows us to make API calls to social media services as shown in below figure.
  • Machine learning algorithms cannot scale while being executed on nodes of any blockchain. With Enigma, these computations can be executed on any worker node and can be verified by other nodes in Enigma Network.

Product development

Colendi released the alpha product to the volunteering members of its community. We had already announced how you can get early access and what features it will include. Last week, we have made the announcement that we selected volunteers among our community who have shown their interest to try the alpha product. Those people already received their mails to access the Colendi Alpha Product and shared their opinions with us. Here is the recap of their sentiments and statistics if you want to find out.

We are still gathering new volunteers to try out the Colendi Alpha Product. If you are interested you may still click the link below to register.

Get Access

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 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?

Volunteering for the alpha product and helping us with Q&A testing is still an option. If you are interested, click the link below and leave your contact information. We have already sent 2000 members of our volunteers their access. 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.

Get Access

The Second Wave of The Bounty Campaign Has Finished!

We announced the new phase of Colendi Bounty Campaign to our community.

So, how can you contribute to Colendi? How can you use your skills to collaborate with us and be an active member of Colendi Project?

Colendi Bounty Campaigns are comprised of many tasks such as translations, content creations, attracting new members, joining social media channels personally etc. We will basically announce the bounty types as waves, and define in them the tasks for our community and the relevant rewards. You may follow the links below to check out what tasks are available and how you may get involved:

Our bitcointalk.org link announcing the bounty campaigns

Bounty campaigns on the social media channels: Telegram, Reddit, Twitter and Referrals!

Bounty campaigns on the bounty.global site time limit has finished for the second round. We advise you to stay in loop to participate in all our upcoming campaigns!

 

Media

– Coindesk covered a special interview with Colendi CEO and co-founder Bulent Tekmen about partnership with Enigma in their article “8 Blockchain Projects Enlist Early To Test Secret Enigma Contracts” Bulent’s quotes were hinting the greater technology yet to be introduced soon to the Colendi community.

“Colendi requires sensitive information from borrowers, such as bills, bank statements and national identification numbers. Not only does Enigma’s protocol allow such data to be run through Colendi’s algorithms in an encrypted form, it also avoids creating an Equifax-like honeypot for hackers to go after”

The article got featured in many other important media as well, some examples are:

Coin.fyi

Cointube

Cryptotown

 

– On the 27th, Colendi published a blog about the “Gig Economy And your Credit” . It is a must read if you are wondering how the future is going to shape up and your economy.

– Bulent gave an interview to another Blockchain ecosystem player RightMesh. Amber McLennan from the RightMesh team chatted with Bulent to pick his brains on the topics of financial inclusion, women’s financial connectivity, the situation of unbanked in the world. You may read a lot more in the interview in  her blog.

– Colendi’s latest press release about “Initial Funding and Adviser Team Build Out” got picked up by many media.  Details about Colendi early investment in 2017 and most recent additions to the adviser got great deal attention and received positive comments:

Marketwatch

Fortune

Bizjournals

Benzinga

 

It is a great pleasure to be able to tell you about our latest activities. While you let us get back to business, you may check out the links below and find out more about the Colendi Project!

 

 

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