Crowdsourcing is a powerful tool. We believe that if we can crowdsource the reputation of an individual, we can use their reputation as a proxy for credit score. This can work as new infrastructure in developing countries and a substitute to credit rating agencies in the developed world.

What it does

Two billion of the world’s population is excluded from the financial system and are victims of a self-perpetuating cycle where it is extremely difficult to achieve upward economic mobility. These individuals lack not only a bank account but also a credit score – a key metric that financial institutions use to vet credit applicants. At SOURCE, our team of anthropologists, psychometric researchers, and developers have created an alternative data model – based on reputation – to assess an individual’s credit worthiness. Using blockchain and distributed ledger technology, we are able to leverage an individual’s social network to securely collect relevant information and turn it into meaningful insights that promote equity, transparency, and empowerment.

How we built it

Ethereum ERC 721 token services as a digital asset representing reputation about a person.

We have designed both a protocol in the form of a smart contract and an application layer as our business model. The open protocol allows people to rate each other on psychometric qualities so that people can build reputation. Our business model aims to analyze this data so that meaningful insight can be delivered to relevant parties such as banks, government, and merchants.

What's next for Source

We are working on exploring financial incentives so that we can grow a large network of people using Source.

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