About the Project

Inspiration

Traditional credit scoring models exclude millions due to a lack of financial history. Inspired by the potential of blockchain and social network analysis, we aimed to create a decentralized, transparent, and inclusive credit assessment system.

What We Learned

• The significance of social trust in financial systems.
  
• How Plutus smart contracts and Atala PRISM enable decentralized identity and trust scoring.
  
• The challenges of privacy-preserving credit evaluation using zero-knowledge proofs.
  

How We Built It

• Blockchain: Implemented on Cardano using Plutus smart contracts.
  
• Identity Verification: Integrated Atala PRISM for self-sovereign identity.
  
• Graph-Based Credit Model: Developed a social network analysis algorithm for credit score propagation.
  
• Privacy & Security: Utilized zero-knowledge proofs (ZKPs) to ensure secure computations.
  

Challenges We Faced

• Data Availability: Ensuring reliable social graph data without violating privacy.
  
• Scalability: Optimizing smart contracts for cost-effective and efficient execution.
  
• Trust Mechanisms: Designing Sybil-resistant models for fair credit evaluation.
  

This project demonstrates how decentralized finance (DeFi) can expand financial inclusion while maintaining privacy and trust. 🚀

Built With

• research