CreDA Update — Q1, 2023

CreDA
2 min readMay 23, 2023

It’s been a while since we updated our community on the work we’ve been doing. Here’s an overview of what the CreDA team has been up to.

Show me the money!

As part of the big Arbitrum airdrop back in April, CreDA was fortunate enough to receive a sizeable portion, given our early deployment on the Arbitrum Network. We haven’t had any specific use yet for the funds, however, we have decided to invest in fortifying our underlying architecture with a few key projects:

  • We are expanding the CreDA Credit Model to include the Celo blockchain data. This is also in anticipation of an upcoming announcement regarding Celo’s partnership on the Credit4Good programme.
  • CreDA is making a significant upgrade to the CreDA Credit Model that further strengthens the accuracy and quality of the CreDA Credit Score while also bringing it into alignment with commercial-grade credit bureaus in the traditional finance sector.
  • We are upgrading our DID integration to better support technical W3C/DIF standards and KYC. This work is being undertaken in partnership with the talented Trinity Tech team from Elastos.

Going places!

CreDA has been actively seeking early stage investment and were fortunate to be invited to present as part of the Franklin Templeton’s Annual Fintech Demo Week. CreDA was shortlisted as an emerging FinTech solution and presented to the world class global investment firm’s 10,000 employees. Demo week is an opportunity for selected startups to present to and connect with the broader FT ecosystem including their portfolio management, alternative platform, and distribution teams.

The initial feedback has been strong and follow up meetings are being scheduled.

Collision course!

CreDA has been accepted to participate in the startup program at the upcoming Collision Conference in Toronto from June 26–29. Billed as the Olympics of the tech industry, CreDA will have an opportunity to pitch to investors, attend special events and exhibit. For anyone interested in connecting with CreDA at the event, please reach out to CreDA CMO, Jamie Read or BD and ESG Lead, Jon Hargreaves.

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CreDA

CreDA is the world’s first decentralized credit rating service based on users’ on-chain data