Credit3

Credit3 is an on-chain trade credit risk assessment platform. We provide the 2 main building blocks of trade finance on-chain:

1. Verifiable business identities
2. Credit risk assessment

Our trust-less solution brings existing and proven trad-fi credit risk assessment tools on-chain, providing a transparent environment to access trade credit and AML risks in order to facilitate transparent trade financing.

Business web3 identity Credit3 provides a user-friendly way for businesses to claim a recognizable web3 identity on-chain by verifying the company through official company business registries and confirming the director’s electronic signature.

Risk assessment tools Credit3 pulls official company finances from company registries to analyze credit risk and compare them to the landscape of competitors. We use existing market-proven credit risk assessment tools such as Dun & Bradstreet credit scoring which are widely used by trade credit insurers worldwide

Composable trade finance building blocks Credit3 provides the basic building blocks for an on-chain global trade credit marketplace where trade finance participants can receive loans in a stable currency (USDT/EURC) or another currency irrespective of the marketplace where they operate.

On-chain business AML and KYC We provide AML and KYC tools to identify our lenders and borrowers. Borrowers are obliged to undergo the full AML and KYC verification in order for us to establish their risk profile and filter our entities under sanctioned or involved in money laundering.

1. Login - we provide a social login in order to allow non-crypto native business owners to create their company wallet (Web3Auth)

2. Company information verification - we verify the user-provided company basic information (company name, registration number, address, etc.) by calling public API's, such as company registries and credit rating company API's( Dun & Bradstreet's for out first iteration)

3. Company director signature verification - we require company directors to electronically sign a document using an eIDAS eSignature (EU-issued e-signature credentials) confirming their identity as company authorised legal persons.

4. We request the following data through a through a trust-minimised oracle solution - ChainLink functions: a. credit rating b. credit score c. AML and KYC verification

5. Once the user confirms, we publish the company's profile and risk assessment on-chain to Base chain.

Technologies used: Front-end (2 Single Page Applications - client-facing application + admin panel) - Next JS, TypeScript

Backend - PHP (surprisingly!), API platform, Symfony, PostgresDB, NextJs, TypeScript

Web3 - Solidity, Hardhat, ChainLink functions (for verifiable API data retrieval), Web3Auth (social login), Base (deployment chain)