As opposed to traditional credit reporting service providers such as Equifax, LedgerScore’s patent-pending technologies collect data from cryptocurrency transactions.
Leveraging state-of-the-art mechanisms, it provides independent financial reporting for Decentralized Finance (DeFi) and traditional lending. Set to launch on TrustSwap on May 31, it seeks to revolutionize bank lending to crypto users.
LedgerScore does not focus solely on credit scores to help banks determine the payment capabilities of borrowers. LedgerScore’s technology also comes with a Digital ID feature, cryptocurrency wallet, built-in exchange platform, and payment processor.
Speaking of its wallet, it’s 100% responsive and allows users to store all their digital assets in one place. LedgerScore wallet also enables earning crypto by participating in marketing rewards programs. As for digital identity, users have the option to make it anonymous or public.
LedgerScore also features its native “currency,” known as LED tokens. There will be 66 million of these tokens that will be released on TrustSwap. On its launch at the end of May, more than 21 million LED tokens will be made available by LedgerScore with a value of 3 cents per unit. With this, a raise of $632,000 is expected.
Almost 45 million tokens will be released on a weekly basis over the next months. LedgerScore has locked up seed, private, team, community, and advisor tokens over the next half to one year, which will be progressively released as what the demand in the market requires.
Image courtesy of Cointelegraph News/YouTube
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