{"title": "deCredit Score", "logoImg": "bafkreiemx5hxtcokzcks4qxsdbcpevhms67bycb75kmacceysyq2gxyr5q", "website": "https://decreditscore.xyz", "bannerImg": "bafkreicjgzhtrpdct7ykpztkuqqei6wwbgvkr4j2inzujxbg3orq7xwulq", "createdAt": 1708062408653, "userGithub": "HBesso31", "credentials": {"twitter": {"type": ["VerifiableCredential"], "proof": {"jws": "eyJhbGciOiJFZERTQSIsImNyaXQiOlsiYjY0Il0sImI2NCI6ZmFsc2V9..2m6RUzulP-oI-dGgHnhaL746gyvVRd4jWOSCfB-XpPWs3w0z_1d535RqqlVjxy2a5Is0E3n9H5_IK1v7ztO6Dw", "type": "Ed25519Signature2018", "created": "2024-02-16T04:50:10.831Z", "proofPurpose": "assertionMethod", "verificationMethod": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC#z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC"}, "issuer": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC", "@context": ["https://www.w3.org/2018/credentials/v1"], "issuanceDate": "2024-02-16T04:50:10.830Z", "expirationDate": "2024-05-16T04:50:10.830Z", "credentialSubject": {"id": "did:pkh:eip155:1:0xE73a198e7C07c418D7dcFd42f5E953074aBbD125", "hash": "v0.0.0:V4D6em6PtgPr3q7SmGKZ3WVx7ITRiUzt08VL7A8ctCY=", "@context": [{"hash": "https://schema.org/Text", "provider": "https://schema.org/Text"}], "provider": "ClearTextTwitter#0xUrbanika"}}}, "description": "# deCredit Score to ease the adoption of DeFi IRL\n\n**Category of this proposal:** 5. Attestations with a better frontend.\n\n**Commitments:** Produce a working UI for enhancing the visual representations of attestations issued through the Ethereum Attestation Service.\n\n**Latin Americans building in this category:** [Sofiverse.eth](https://twitter.com/Sofi_VCarrillo), [HBesso31.eth](https://twitter.com/HumbertoBesso), [AnnaKaic.eth](https://twitter.com/kaicanna), [Irwing](https://twitter.com/Irwingduran), [Johan](https://twitter.com/DeSinoe96458).\n\n**Lee la propuesta en español** [aquí](https://docs.google.com/document/d/1oLyX7D6aHfJnhafo8-HpQD_8-3z4eW5aTnHyhYxjzI0/edit?usp=sharing) \n\n## What you’ll find in this proposal:\n1. TL;DR,\n2. Easing DeFi adoption IRL,\n3. The proposed UI,\n4. Why Arbitrum?\n5. Why funding this matters.\n\n## ⌛ TL;DR\nA study regarding the adoption of DeFi IRL within LatAm is currently being carried out through the Arbitrum DAO and RnDAO CoLab Fellowship.\nThe study is still ongoing, however, the results at the moment show that a form of decentralized trust score is needed to encourage web3 people to support strangers over the internet with their money.\nThe team behind this proposal thinks that a fork of the Gitcoin Passport modified for stamps that IRL local businesses can claim would facilitate them getting a web3 credit.\nVerifiable off-chain data will ease the path for more people to benefit from the potential that decentralized and regenerative finance can bring to local economies.\n\n![website](https://bafybeiejlfamyx5big2nugfrkfuagdcwobx7uisgzvxwcvd4im4r57azoi.ipfs.w3s.link/deCredit%20Score%20website.gif)\nCheck out our website here: [www.decreditscore.xyz](www.decreditscore.xyz)\n\n## 🛣️ Easing DeFi adoption IRL\n\nThe study named [Daoifying an IRL financial company: a constructive research](https://mirror.xyz/hbesso31.eth/QHiGaZ78vX-V1hgx8lVe1kUQLGwdLDjZBdmC2RBkMws) provided insights about what would it take for a person to trust with a loan a stranger, specially if that person does not hold any on-chain history.\n\nThe main insights were:\n* A clear model where the person builds out a “crypto-credit” score for future and more trusted lending.\n* A trusted party that vouches for that business, someone on the ground that can enforce responsibility.\n* Info of the activity of that business, like what products or services they sell, what’s their rating, what do their customers say about them, if they have a base of fans or supporters, what’s their cash flow, their story, or why would they deserve that credit.\n\nThe study points out that people would charge differently depending on the trust score of the borrower. The people interviewed for the study offered 2% to 15% per loan for validated off-chain data, whereas their interest rate requirement dropped at half for borrowers on-chain data.\n\nTherefore, this proposal aims to build something that has scientific support, so as to increase the chances of being something meaningful for the entire web3 ecosystem.\n## 📱 The proposed UI\n![deCredit Score prototype](https://hackmd.io/_uploads/Bkn36I2jT.jpg)\n\nLink to the [figma file](https://www.figma.com/file/Ze4bmduRqOlJKpJvxmJhh9/Web3-MicroCredits?type=design&node-id=0-1&mode=design&t=nVolkz2Wj2TBccrL-0)\n\n**Why an UI inspired in Gitcoin Passport?** three simple but powerful reasons:\n1) This UI has been battle-tested for web3 trust scores,\n2) It has been evolving for years through collective intelligence and deep research regarding anti-sybil attacks,\n3) It enables building on top of it with a guaranteed interoperability due to the wide variety of integrations working as stamps.\n\n**What are we making different?** Making advanced attestations issued via EAS completely visual.\n\nDoing this will provide the following advantages:\n* a clear roadmap of which stamps are required to claim for getting a lower interest rate. This means that credit scores will be easy to understand for even a child, thus smoothing the process of credit lending.\n\n* Enabling different trusted parties to issue vouches for others, in this way, a P2P trust web can emerge.\nThis means that a borrower can trust their money to a stranger that is vouched by someone she directly trusts. And even better, if the vouching person is someone on the ground that can enforce responsibility, then the lender knows that there's support on the ground, unlocking the DeFi potential for everyone outside crypto.\n\n* Off-chain data can be issued as attestations by sources that directly or indirectly stake their reputation for providing that source of truth.\nValidating off-chain data opens the possibilities to add a decentralized validation system where peers stake something that can be challenged by others.\n\n## Why Arbitrum?\nThe financial company subject of the above-mentioned DeFi research is being DAOified in Arbitrum, the crypto credits of that company are being issued in the Arbitrum network, and the research is being also done within this L2.\n\n## 💝🌎🌍🌏💕Why funding this matters?\nThe work we are proposing has a specific use case: easing DeFi adoption. However, as an open source development it can be forked and modified to cover plenty of other use cases.\n\nThe main advantage offered outside the DeFi world is the ability to use this UI to visualize attestations issued via EAS. This is like putting stereoids to POAPs. Funding our work will open up the possibilities for making visual attestations that are as complex as one can imagine.\n\nVonating to this project means supporting the development of scientific research for public good. \nPlease do consider us!\n\nOh! and before you go, if you've arrived until here, join us at the live Spaces we are hosting during this round. We are explaining which current integrations we are including and we want to know what other integrations should we add, as well as if you have an EAS schema that you think will benefit IRL businesses to request a crypto loan easier, let us know, we will gladly include it in the UI!\n\n# Thank you for your support!", "logoImgData": {}, "bannerImgData": {}, "projectGithub": "urbanika", "projectTwitter": "0xUrbanika"}