- Ensure maximum security and decentralization of sensitive user data.
- Develop the Credefi Network to further enhance the protocol’s security and seamlessly integrate the multiple third-party solutions that Credefi will be using for its smooth operations including on-/off-ramp solutions, oracles, Experian’s credit scoring validations, and other external service providers.
- Solidify its role as the gateway for SMEs to the world of blockchain technologies. Cere’s SaaS solution offers multiple flexible and innovative enterprise use cases that can be adopted by SMEs. Credefi will introduce the benefits of those as part of its cooperation
Credefi’s risk scoring will be validated and calibrated by Experian — one of Big Three global credit scoring agencies. Being the first blockchain project to partner with Experian, Credefi needs a robust and secure data management and storing solution for the huge amount of data that will flow between Credefi, Experian and platform users.
At the same time individuals and businesses demand transparency on how their personal data is being used and safeguarded by service providers. EU-based companies like Credefi have to comply with strict GDPR provisions for protecting user data and ensuring users retain control on how their data is used at all times.
This is where solutions like Cere Network’s decentralized data cloud (DDC) really shine. Cere DDC empowers enterprises with the tools they need to participate in the data economy, such as managing the availability, usability, permissions, integrity, and security of the data in enterprise systems.
As part of this partnership, Credefi will also join the SaaS-Defi alliance, which is set to establish universal protocol standards for the Enterprise DeFi space and improve communications between enterprises and the DeFi ecosystem. Other members of the SaaS-DeFi alliance include Binance Smart Chain, Elrond, Chainlink, Matic and more.
“We are excited to provide state-of-the-art data management for our platform users, so that small and medium businesses can feel comfortable making their first steps in DeFi and everyone knows their data is secure and they are in control of it at all times. Decentralized lending needs decentralized data management and we are very happy to partner with Cere Network and leverage the vast synergies between our solutions” said Credefi CEO Ivo Grigorov.
“It’s great to see Credefi sharing the Cere Network vision of owning your data. Whether that’s as an individual, enterprise, or in this case, SME’s.” said Fred Jin, Cere CEO. “We’re very aligned with Credefi’s mission to power blockchain for SME’s, whereas these companies usually get stuck in the innovation limbo between enterprise and individual-focussed solutions. We’re looking forward to enabling and publishing on the successful use cases of our combined technologies, showing industry-leading providers like Experian how the future of data could unfold for all stakeholders. “
Credefi is a first mover in the DeFi space connecting crypto lenders and SME borrowers from the real economy. Credefi’s platform enables decentralized and secured lending to portfolios of business projects or individual companies, protecting lenders while providing them fixed APY.
The protocol resolves the key challenges that DeFi and TradFi are facing today: DeFi’s inconsistent yields that evaporate in bear markets, speculative borrowers that are fickle and cannot satisfy DeFi lending supply, as well as the difficulty for SMEs to get TradFi funding at normal interest rates.
About Cere Network
Cere Network is the first Decentralized Data Cloud (DDC) platform built on Substrate and Polygon. Cere is the first Web3 infrastructure project that facilitates trustless cloud data storage, integration and data collaboration across blockchain networks as well as Web3 NFT, metaverse and gaming content.
Cere Network is founded by former executives from Amazon, Twitch, Huobi and Bebo. Cere is backed by Binance Labs, Republic Labs, Polygon, Arrington XRP Capital, Fenbushi Capitalamongst others. The company is headquartered in Berlin, with offices in New York and San Francisco.
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