[VIDEO] GrayChain and Utu Technologies Announce Partnership to Enhance Credit Scoring on the Blockchain

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Nairobi-based UTU Technologies and Hong Kong-based Graychain have announced a partnership that will significantly enhance the scope and quality of their product offerings.

GrayChain CEO, Paul Murphy was recently in Kenya to meet with Utu Technologies to discuss the partnership that would see African customers soon have the ability to link their UTU profile to the Graychain platform. This will allow Graychain to take that trust data into account when computing those consumers’ credit scores and generating credit reports.

Jason Eisen, Utu’s CEO said: “We are thrilled to begin collaborating with Graychain. Their vision of anonymity-capable borderless credit is both inspiring and critically needed. Access to credit remains one of the largest challenges facing Africa and we see huge opportunity to unlock the continent’s potential by empowering people to both take control of their credit data and match lenders and borrowers based on a broader understanding of credit and trust that preserves privacy.”

Paul Murphy, Graychain’s CEO said: “UTU’s understanding of trust relationships in the African market is unique and necessary. Allowing people throughout Africa to leverage these relationships to gain better access to credit is game-changing. We couldn’t be happier with this relationship and its potential to enhance the lives of millions.”

The data sharing agreement respects UTU’s core principles that consumers should have ultimate control over their data. Graychain’s use of this data must be granted by its owner.

The two companies are building on the Aeternity Blockchain.

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