Home Stock Market The key missing piece of DeFi: Cointelegraph's credit score

The key missing piece of DeFi: Cointelegraph’s credit score


The key missing piece of DeFi: the credit score

Over the past 12 months, significant growth in the decentralized financial sector has been driven by one thing: the likelihood of users earning a high return on their crypto assets by loan, localize and supply creditial. Depending on your risk appetite, the return on DeFi investments can be dozens or even hundreds of times higher than the standard return on traditional markets.

Even if those types of yields do not last forever, DeFi offers significant promise in transforming financial markets in the long run. At the beginning of this year, the former powerful supervisor of the United States for money Brian Brooks predicted (I think, correctly) that “self-driving banking” will become a reality before self-driving cars can fly.

  1. Credit scores are calculated in a secure area (a special, highly secure computer chip).
  2. Credit scores, as well as proof of computation, are uploaded to the blockchain.
  3. Proof of calculation verified by smart contract.
Rafael Cosman is the CEO and co-founder of TrustToken, developer of the TrueFi incorrectly guaranteed loan protocol. Prior to TrustToken, Rafael helped build StreetCode, a nonprofit that teaches technical skills to East Palo Alto youth and works at Google (NASDAQ 🙂 Brain, Palantir and Kernel. Rafael graduated from Stanford University with a BA in computer science. In your spare time, you will find Rafael reading or surfing.