Today Cere Network is happy to announce that they will be helping Credefi, a pioneering hybrid of DeFi and Fintech protocol connecting crypto lenders with small and medium business borrowers from the real economy, to work with their Decentralized Data Cloud (DDC) to:
- Ensure maximum security and decentralization of sensitive user data.
- Develop the Credefi Network to further enhance the protocol’s security and seamlessly integrate the multiple third-party solutions that Credefi will be using for its smooth operations including on-/off-ramp solutions, oracles, Experian’s credit scoring validations, and other external service providers.
- Solidify the role of Credefi as the gateway for SMEs to the world of blockchain technologies. The Cere ecosystem offers multiple flexible and innovative enterprise use cases that can be adopted by SMEs. Credefi will introduce the benefits of those as part of the cooperation
Credefi’s risk scoring will be validated and calibrated by Experian — one of Big Three global credit scoring agencies. Experian is an Irish multinational consumer credit reporting company. Experian collects and aggregates information on over 1 billion people and businesses including 235 million individual U.S. consumers and more than 25 million U.S. businesses.
Being the first blockchain project to partner with Experian, Credefi needs a robust and secure data management and storing solution for the huge amount of data that will flow between Credefi, Experian, and platform users.
At the same time, individuals and businesses demand transparency on how their personal data is being used and safeguarded by service providers. EU-based companies like Credefi have to comply with strict GDPR provisions for protecting user data and ensuring users retain control on how their data is used at all times.
“We are excited to provide state-of-the-art data management for our platform users so that small and medium businesses can feel comfortable making their first steps in DeFi and everyone knows their data is secure and they are in control of it at all times. Decentralized lending needs decentralized data management and we are very happy to partner with Cere Network and leverage the vast synergies between our solutions” said Credefi CEO Ivo Grigorov.
The Decentralized Data Cloud is a perfect solution for the above-mentioned demands, showcasing another real-world example of the possibilities of their DDC. Cere DDC empowers enterprises with the tools they need to participate in the data economy, such as managing the availability, usability, permissions, integrity, and security of the data in enterprise systems.
As part of this partnership, Credefi will join the SaaS-Defi alliance, which is set to establish universal protocol standards for the Enterprise DeFi space and improve communications between enterprises and the DeFi ecosystem. Other members of the SaaS-DeFi alliance include Binance Smart Chain, Elrond, Chainlink, Matic, and more.
“It’s great to see Credefi sharing the Cere Network vision of owning your data. Whether that’s as an individual, enterprise, or in this case, SME’s,” said Fred Jin, Cere CEO. “We’re very aligned with Credefi’s mission to power blockchain for SMEs, whereas these companies usually get stuck in the innovation limbo between enterprise and individual-focussed solutions. We’re looking forward to enabling and publishing on the successful use cases of our combined technologies, showing industry-leading providers like Experian how the future of data could unfold for all stakeholders. “
About Credefi
Credefi is a first mover in the DeFi space connecting crypto lenders and SME borrowers from the real economy. Credefi’s platform enables decentralized and secured lending to portfolios of business projects or individual companies, protecting lenders while providing them fixed APY.
About Cere Network
Cere Network is the first Decentralized Data Cloud (DDC) platform built on Substrate and Polygon. Cere is the first Web3 infrastructure project that facilitates trustless cloud data storage, integration, and data collaboration across blockchain networks as well as Web3 NFT, metaverse, and gaming content.
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