GrayChain Event.Hosting a ‘Crypto Credit and Credit Scoring on Blockchains’ at Utu House in Nairobi, Kenya.
Graychain, a company that produces credit scores for crypto, on May 23rd 2019 , will be hosting an event in Nairobi, Kenya at Utu House, Home of Blockchain and AI in Kenya. The issue for discussion will focus on cryptocurrencies and how the see credit scoring in this new crypto society.
A look at the traditional consumer credit and loans such as banks generally need to ensure that certain factors and conditions are met before issuing credit or loans as the case may be.
The two main factors are:
• Looking at the way to get the Borrowed Money Back
• A Reasonably Good Idea and facts that the Borrower is Likely to Return the Money
• All of the Above
Looking at the traditional financial systems, whereby a person’s credit score can be derived from data about their past behaviour, which helps in the prediction of their future behaviour. This approach works in two ways simultaneously, to credit scoring thus creating both a prediction and how the mechanism will be enforced.
This score however, does not work in the crypto world out there. In the cryptocurrency structure, you will need something different to both predict and enforce repayment process and this is where companies like Graychain come in.
GrayChain CEO and CTO
The structure of Blockchain— anonymity and the ability to transact peer-to-peer changes the dynamics completely. It needs an entity, we need companies that will approach the credit data problem differently than traditional credit bureaus such as banks etc. While still maintaining the model and purpose of blockchain.
These companies need to consider anonymity, pseudonymity, and the global, trans-national, nature of blockchains, in addition to using alternative behavioural data and still retains blockchain values.
You are welcome to join Graychain on May 23rd, 2019, to learn more about this alternative crypto credit scoring model that will change crypto credit and the future of borrowing in the world.
The event is free!
The event details are as follows:
EVENT: Crypto Credit in Nairobi
DAY: Thursday, May 23rd, 2019
TIME: 6:00PM – 8:00PM
LOCATION: Utu House, Lower Kabete
Credit: CNBCafrica, bitcoinke.
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