Colendi is a blockchain-based, decentralized credibility evaluation and microcredit platform, fully compatible with participation banking requirements, as well as traditional financing methods. Colendi aims to provide a unique and global identity and a global financial reliability passport on the blockchain for every person in order to create a more democratic, transparent, inclusive and truly mobile creditworthiness measure.
Through its decentralized structure — built on machine learning algorithms — Colendi gathers and processes all digital data of a user in order to create a universal digital identity and comprehensive credibility image. Smartphone, social media, telco, retail history and many other aspects of a user’s data are evaluated in Colendi network in order to bring out the most comprehensive creditworthiness measure as a global financial passport.
Via its cutting-edge technology and global credibility identity, Colendi provides financial reliability information based on users’ own distributed data. The Colendi platform uses its decentralized intelligent scoring and fraud detection algorithms by evaluating their users’ real-life data to identify truly credible users, whether they they are banked or unbanked.
Colendi will enable various financial applications for unbanked individuals as well as an evolution of credibility assessment. Microcredit, installment shopping, P2P financing, and reliability checking will be the primary focuses in regards to financial use cases. Many more applications and systems will be built on top of Colendi protocol and credibility technology as the roadmap develops.