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EulerLagrangodamus - bank/acc
@eulerlagrange.eth
@ted heard in a chat the main problem Goldfinch had was reputation for users. Is that true? That’s literally what we’ve solved
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ted (not lasso)
@ted
what do you mean? its a marketplace protocol so multiple users: mainly there were borrowers (credit funds/fintechs) and then backers and LPs (investors). so which users are you talking about? happy to share my POV
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Giuliano Giacaglia
@giu
I guess what @eulerlagrange.eth is saying is that lenders or backers don’t necessarily know the reputation of borrowers. That could probably be solved using zkTLS cause you may be able to infer borrowers’ credit “score” based on their financial data That gives more transparency to lenders that can lend onchain and set a more market-driven rate based on credit score
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ted (not lasso)
@ted
the borrowers were required to provide data rooms with all financial / legal information typically required by traditional lenders, so that info was available to anyone interested in investing on Goldfinch. in reality, the more fundamental issue at the time was that most onchain users a) didn't look at the data rooms and just aped in, and b) aren't capable of evaluating a private credit loan nor a company's financial data... so using zkTLS wouldn't solve for either a nor b. these niche funds don't have typical credit scores; they're too small for moody's credit ratings and far too large to have consumer credit scores. i think Huma is working on this on a consumer level, Centrifuge on a institutional level.
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EulerLagrangodamus - bank/acc
@eulerlagrange.eth
So the info in the data rooms requires an intensive human process to properly assess? That removes one of the key benefits of DeFi. USDC is centralized. The benefit of it is you can pay in a software defined system.
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Giuliano Giacaglia
@giu
Interesting!
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