Colendi @ Ethereum Meetup / Produced by TechCrunch in Zug


This is Tokenspoken.com and now we are in Techcrunch Ethereum meetup in Zug And we are trying to introduce the blockchain related projects who are attending this event. So, I think you are coming from Colendi Can you introduce yourself and your project a little bit? Sure So, this is Bulent. I am the co-founder of Colendi. Colendi is a decentralized credit scoring and microcredit protocol. We are working on the Ethereum blockchain. For the last year, we developed our prototype. Our supporters are ConsenSys, Token Foundry and a lot of great names. So, we are working on a decentralized credit-worthiness protocol. which has been developed as of today. And we are now launching our product here. So, what do you think about the event, how is it going for you? So far so good. There are lots of great people from community. Ethereum community is a great community that builds up lots of things. So, can you give us a little bit detailed information about the words in your T-shirt:
“the future of credit scoring”? Sure. I guess we all believe that a decentralized future is something, but rather than creating a hype We try to solve some problems. The main problem in our ecosystem is There are 2.5 billion unbanked underbanked people who doesn’t have a financial access or they don’t have a bank account or they don’t have any kind of credit potential. So, we were trying for the last decade My latest endeavor was an e-money company which was sold to a French congloramate And we reached 2.5 million people who were unbanked underbanked. So, we were working with these guys but we didn’t know that this was huge in the world ecosystem. And this becomes a very big burden for us So when you know that there is a problem there, you must solve it. And what we did with Colendi for the last year was we tried to model a protocol where you own your data. So, Colendi has a Colendi ID this definitely a self-sovereign identity with attributes and attestations. The attributes are the e-mail, phone number, your location data, your mobile phone data. But we do not put them in a centralized database, rather than that, we have lots of interesting partners that you are going to see in our website. And we are going to launch a couple of very good projects with our decentralized partners. So, we put these things in decentralized environment, and with the attestations that you have we have a proprietry algorithm that gives a credit-worthiness score. But we do not make it our own. We believe in sharing economy, so this protocol will be open source and most of the ecosystem partners like lenders, borrowers, merchants, developers will become the ecosystem with these partnerships. What will we do is with the Colendi ID you will have your identity. With the credit score, Colendi credit score you’ll have a credit-worthiness number and with the microcredit protocol, you will have lenders, vendors and merchants as lots of ecosystem players Perfect, it seems very beneficial for the population. So, where is the name Colendi coming from? It’s coming from “Cooperative Lending” at the moment. We believe in co-operation, we believe in community, we believe in this open-source ecosystem which will prove that somethings are going to change in the ecosystem. And we support this heavily. I guess Colendi is a very good sign for this so far. And how long have you been working on this project? We started this 2 years ago. And for the last 12 months we were coding our protocol. And today we are on the testnet. ColendiLabs has a standard, Ethereum based, ERC 20 token. A couple of very interesting applications are on the way. Our smart contracts are in our github. And people can come and contribute as of today And we are working with a lot of great guys: ConsenSys, Token Foundry, W3C Lots of ecosystem partners are contributing us We have a lot of great contributors as investors too. Who are the leading investors for your project? Let me give you the names of a couple of them, because we don’t disclose a lot Hasan Aslanoba, Aslanoba Capital is one of our early investors. Bogazici Ventures is also another one from Turkey. So we love these guys, these guys are the first to come and a lot of good names are coming We’ll share them as we progress. Thank you very much for spending your time with us And I wish you the best for your project. Thank you very much.

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