Can I remain Anonymous and still get a LedgerScore™?
A LedgerScore™ credit profile can be anonymous or verified. Our algorithms will be able to determine your credit worthiness based on your cryptocurrency transactions, not based on any individual person or entity’s credit profile. Your digital identity can be as anonymous or public as you choose. Our algorithms can determine your creditworthiness based on your cryptocurrency transactions, not based on any individual person or entity’s credit profile. We are simply making it easier for your digital identity to do business.
Can a Business receive a LedgerScore just like an individual?
Yes, LedgerScore works just the same for a business as for an individual. Business’s need creditworthiness just as much as individuals. If you are a business transacting in crypto, your business needs to be verified by LedgerScore.
Is LedgerScore™ legally recognized by Lending Institutions?
According to legal regulations in the US and other countries, a creditor must consider your LedgerScore™ Credit Report upon your request, according to the US Equal Credit Opportunity Act*, if you provide a Lender with proof of non-traditional payment history, they must take it into consideration. Due to these facts, a business legally may not turn you away by saying they only accept traditional credit reports. LedgerScore™ provides a more complete picture of your financial habits than traditional credit scoring. Using your LedgerScore™ Credit Report to show a more complete credit profile, lenders can make more informed decisions about offering credit to you.
What is the difference between a traditional credit score and LedgerScore™?
A traditional credit score is calculated only on credit information reported to the national credit bureaus by the individual’s creditors with no input from the consumer. Often, poor reporting and in many instances, identity theft can negatively impact a consumer’s credit, since the individual has little to no input on their credit ranking. LedgerScore™ balances the equation; as your global credit score factors your input, by reporting on credit information based on what is submitted by you then verified and scored. LedgerScore™ gives consumers the right to have the same influence on their credit as creditors, simply the way it should be. LedgerScore™ truly is a global credit score that reaches far beyond traditional credit scoring.
Why is having a LedgerScore™ important?
As cryptocurrency and technology improves and becomes more adopted your digital footprint will one day be the only one that matters. Credit scores in the United States are worthless if you move to the UK or plan to do business there as most countries do not acknowledge the other countries credit scores. LedgerScore™ will begin to bridge the gap between all countries and give one universal smart credit score based on your global transactions. LedgerScore™ is the answer to a global ecosystem, where everyone can have a simple digital credit score. LedgerScore’s technology bases its proprietary smart scoring algorithm on verifying actual transactions on a cryptocurrency’s blockchain ledger. This is the best way to derive a score because all contracts and transactions done on blockchain are permanent, time-dated, transparent, and allow third-party verification. Your score is linked to actual historical verifiable transaction data.
Who needs a LedgerScore™?
Everyone, regardless of your personal financial situation, there will always be a need to apply for financing for major purchases. There is also a need for a fair, balanced and accurate global credit rating. Knowing your credit score is essential for consumer protection, but also gives your creditors an idea of how much of a risk it will be to lend money to you. If your credit data is global, and includes cryptocurrency transactions, it is a more accurate measure of financial standing. As technology improves and more financial transactions are completed on a global platform, doing business in a worldwide digital ecosystem will require a smarter credit score, one that is reflective of your digital transactions. LedgerScore™ provides a solution and allows consumers and businesses to develop a global smart credit score that is a robust and accurate representation of their complete credit profile.
Where are you based and what is your legal structure?
LedgerScore™ is incorporated in Tallinn, Estonia. The team, advisors and collaborators are from all over the world.
How do LedgerScore™ smart contracts work?
LedgerScore offers a complete library of smart contract templates. Inside the LedgerScore Dashboard, you will find a smart contract creation tool that allows users to pick and create smart contracts from templates from our library. These customizable contracts will allow you to setup contractual payments.
Future of LedgerScore™?
LedgerScore will be the first truly global credit score. Our patent pending technology and proprietary credit algorithms can be applied to any cryptocurrency, so the future is limitless. This technology is being tested not only in cryptocurrencies, but with other currencies around the world. LedgerScore™ is currently being testing for Africa’s M-PESA, a mobile phone platform currency. M-PESA, is a currency that is used by over 19 million Kenyans.
Is LedgerScore™ reporting regulated?
LedgerScore™ is based out of Estonia and uses the Estonia Financial Services Commission as a benchmark on how business is conducted. The government in Estonia is an early adopter of blockchain and is at the forefront of the technology. LedgerScore™ is currently independently regulated as there are no specific guidelines to follow on cryptocurrency transactions or how they are reported. Our goal is to ensure the information we gather and distribute is a fair and accurate summary of a consumer’s digital credit history.
How would I get started?
Simply sign up at LedgerScore.com and become a member. After you sign up, you can create your digital identity credit profile. the LedgerScore wallet will now allow you to send and receive LedgerScore tokens as well as other forms of cryptocurrency. You can create and add smart contracts to your dashboard. From this point, all transactions within the LedgerScore wallet are now used to start calculating your Smart Credit Score.
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