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Volcanos, Bitcoin and remittances: A Tongan lord plans for financial security
A former lawmaker from the island nation wants to use Bitcoin to secure his country’s financial security.
Ethereum (ETH) and Altcoins Ready to Explode! Bears to lay low Soon?
The post Ethereum (ETH) and Altcoins Ready to Explode! Bears to lay low Soon? appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide
The crypto market has been in the red since the new year began, with the first week bringing down the most valuable coins by double digits as fear, uncertainty, and doubt (FUD) gripped the global economy amid concerns about inflation, liquidity, and the US Federal Reserve’s next move. After weeks of continuous sell-offs, a well-known …
Crypto Credit Scoring Protocol CreDA Partners with FilDA to offer Leveraged and Low-Collateral Lending
New York, NY, Jan 14, 2022 - (ACN Newswire) - CreDA (Credit DeFi Alliance), the leading decentralized credit rating service and FilDA, the largest ever DeFi lending platform on HECO with a peak TVL of over US$2 billion, have partnered to offer exclusive lending rates to CreDA users. Users who mint their Crypto Credit Score as a Credit NFT (cNFT) will have access to leveraged lending and low or no-collateral loans directly within the CreDA platform.
The partnership comes only a few months after CreDA officially launched its platform and demonstrates the value Crypto Credit Scores can have by removing many of the barriers in traditional banking and the DeFi space. According to Bank of America, over 200 million users are now part of the digital asset universe, yet very few financial institutions would provide them with a loan. Even within the DeFi space, lenders operate in an over-collateralized manner with typical loan-to-value (LTV) ratios below 50 per cent.
Modeled after traditional consumer credit agencies, CreDA introduces the concept of personal credit scores into the $250 billion decentralized finance (DeFi) ecosystem.
Leveraging existing blockchain infrastructure, CreDA provides a trust architecture for the relatively young and volatile MetaFi ecosystem that includes emerging areas such as DeFi, GameFi and SocialFi.
"While our core business is focused on supporting the overall ecosystem through trusted and verifiable credit scoring, ours is a new concept for this space. By partnering with FilDA we hope to demonstrate the value and viability of the CreDA Credit Score to reward both users and lending institutions by brokering more transparent and trusted relationships," explains Fakhul Miah, incoming Chief Executive Officer. "We like to say that we're finally giving credit where credit is due."
How to get leveraged, low or no-collateral loans
CreDA allows users to link their wallets, mint a credit NFT (cNFT) and borrow at industry-defying rates, all from within the same platform.
CreDA provides on-chain credit ratings using the CreDA Oracle, which employs artificial intelligence (AI) to examine the user's assets, historical transactions and behavior in the crypto space across multiple blockchains. This data is used to calculate a credit score that is then minted into a secure non-fungible token called a credit NFT (cNFT). The cNFT enables the user to unlock preferential rates and incentives.
The FilDA partnership lets users access leveraged lending and low or even no-collateral loans based on the users Crypto Credit Score. The score represents a user's ability and willingness to pay back loans, de-risking Filda's exposure and rewarding the user for good on-chain behavior.
One major focus for CreDA is ensuring a safe and secure experience for users. To do this, data is fully protected, secured by industry leading, W3C compliant Decentralized Identifications (DIDs), which are linked to a user's cNFT. CreDA recently underwent a strict security audit with leading blockchain security group, CertiK.
About CreDA
Built on the Ethereum Layer 2 network, CreDA operates on Arbitrum with developers aiming to launch across multiple chains including, BSC (Binance Smart Chain), Ethereum mainnet and ESC (Elastos Sidechain) in Q1 of 2022 with more to follow throughout the year.
CreDA's Credit Oracle has already retrieved the data of billions of on-chain activities related to more than 90 million addresses across the largest blockchains. This large initial data pool helps to build a reliable and trusted credit model that will continue improving as more data is collected from additional chains and users who connect and mint their credit scores. The CreDA protocol is designed to compute a user's Crypto Credit Score while protecting their identity through the use of a DID, which does away with KYC (know your customer) checks.
The aim for the CreDA protocol is to eventually combine traditional (off-chain) and blockchain (on-chain) data to compute a holistic user credit score that allows for more flexibility and access between people's virtual and 'real world' lives. This will become even more relevant as technology advances and society continues to embrace virtual spaces, such as the Metaverse.
"As Benjamin Franklin once said, 'If you want to know the value of money, try borrowing some!' said Cassie Zhang, Chief Operating Officer during CreDA's launch in late 2021.
"The DeFi landscape is quickly evolving, but there is still one factor that is missing -- credibility. The CreDA protocol enables DeFi and other Web 3 platforms to model risk profiles across their user base and offer personalized rates and services, making them more competitive versus industry peers."
Social Links
Twitter: https://twitter.com/credafinance
LinkedIn: https://www.linkedin.com/company/creda-finance
Discord: https://discord.com/invite/eSvTm6a6kb
Media Contact
CreDA (Credit DeFi Alliance)
E-mail: [email protected]
Website: www.creda.app
SOURCE: CreDA
Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.com
Hitachi Rail Partners Exclusively with Intermodal Telematics to Offer a Digital Solution to Improve Rail Freight Efficiency and Safety
Netherlands based independent solution provider IMT has pioneered the development of digital monitoring sensors and telematics solutions for freight wagons and containers. The sensors verify the exact location of the cars, the loading status, the open/close condition of doors and hatches, the temperature and pressure of the cargo and the health condition of bogies and wheelsets. The data is sent to the Cloud via a solar powered GPS device and allows the condition of the train and its cargo to be monitored in real time, as well as alerting operators about potential issues. The partnership allows the use of AI analytics to optimise the efficiency and safety of its customers' freight services worldwide.
Powered by IMT, Hitachi can now provide fully-fledged telematics solutions that improve reliability and performance for the freight market. The technology can give companies the vital information they need to control their supply chains more efficiently and respond with appropriate interventions more quickly. With global supply chains having faced major disruption throughout 2021 and challenges predicted to continue, the partnership offers enhanced resilience for companies transporting goods via rail freight.
The partnership with Intermodal Telematics will complement Hitachi Rail's purchase of Perpetuum last year. The British rail technology firm, Perpetuum, provides Hitachi with digital solutions that improve train reliability and performance. Its remote condition monitoring detects emerging damage in train bogies long before it can be identified by other means, thus preventing failures, facilitating more efficient maintenance cycles, and increasing the life of the wheels. Coupled with the IMT solution, Hitachi will now be able to completely monitor freight vehicles in real time.
Edoardo La Ficara, Executive Officer and Chief Operating Officer for Operation, Service & Maintenance, Hitachi Rail, said:
"Hitachi Rail is focused on growing its digital offer to develop data-driven solutions to meet our customer's complex challenges. Our exclusive partnership with IMT delivers this and enables Hitachi to provide an enhanced digital freight offer across the globe, with a strong initial focus on European and North American markets.
"This solution will enable operators and maintainers to be aware of vehicles' position and status at all times. This will provide a radical evolution for the freight industry, whose railcars are overwhelmingly without any telematics or monitoring whatsoever."
IMT will now exclusively offer the Perpetuum sensor solution in the freight market, which will further broaden IMT's full portfolio in asset and cargo monitoring for the international rail market. Commenting, Dethmer Drenth, Managing Director and Founder of IMT, said:
"This partnership adds a significant value to our railcar market offering as we expand our renowned assets and cargo related monitoring to specific predictive asset maintenance monitoring with the Hitachi/Perpetuum sensor. In that way we create a holistic view of the railcar above and below the axle, alerting the asset and cargo owner on a need-to-know and managing-by-exception basis."
The integration of digital technology has a major role to play in enhancing the effectiveness and efficiency of operations, train maintenance and safety. The partnership follows the global mobility firm's strategy of expanding its digital capabilities, including Hitachi's Lumada platform that uses AI and the Internet of Things to turn data into actionable business insights.
The partnership's initial focus for the new digital service will be in European and North American markets. Hitachi Rail is already an established provider to freight operators in North America, where over 34.5 million carloads and intermodal units were transported in 2021, a growth of 4.8% compared to 2020.
About Hitachi Rail:
Hitachi Rail is a fully integrated, global provider of rail solutions across rolling stock, signalling, service & maintenance, digital technology and turnkey solutions. With a presence in 38 countries across six continents and over 12,000 employees, our mission is to contribute to society through the continuous development of superior rail transport solutions. We are proud of our global achievements, from our world famous "bullet trains", to our signalling solutions and turnkey projects, state-of-the-art traffic management and digital solutions. Drawing on the wider Hitachi Group's market-leading technology and research- and-development capabilities, we strive for industry leading innovations and solutions that can deliver value for customers and sustainable railway systems that benefit wider society. For information about Hitachi Rail, visit www.hitachirail.com.
About Intermodal Telematics (IMT)
IMT is the world leading independent telematics solution partner for the tank container industry, offering smart sensor technology and a web application with which operators, container manufacturers, lessors and shippers can obtain the insights they need to improve their delivery performance, operational efficiency and safety. R&D, production, hardware and software development are all in-house, delivering cost-effective product development via a team of 74 people in the Netherlands, Germany and Spain, backed by an entrepreneurial management team with significant industry experience. IMT offers a complete range of monitoring sensors and telematics systems including location, temperature, pressure, full/empty and heating sensors, all connected to its proprietary software platform. More information about IMT, visit www.intermodaltelematics.com.
For more information, please contact:
Adam Love, Group Head of External Affairs:
+44 7860 273 317 or [email protected]
Anja Smid, Marketing Communications Manager, IMT, on +31 6 222 23 974 (or +31 76 231
02 00) or at [email protected].
Copyright 2022 JCN Newswire. All rights reserved. www.jcnnewswire.comHitachi Rail and Intermodal Telematics (IMT) have agreed an exclusive long-term partnership that will add IMT's pioneering monitoring sensors to Hitachi's existing digital freight service.
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