UTU and Graychain Announce Partnership Agreement
UTU and Graychain announce a partnership that will significantly enhance the scope and quality of their respective product offerings.
NAIROBI, Kenya and HONG KONG, June 10, 2019 /PRNewswire-PRWeb/ -- Today Nairobi-based UTU Technologies and Hong Kong-based Graychain are proud to announce a partnership that will significantly enhance the scope and quality of their product offerings.
UTU Technologies is pioneering AI models of trust built around human beings and how we naturally trust. UTU's vision is to become the trust infrastructure for the entire Internet, replacing anonymous star ratings, reviews, and scores as the de facto trust mechanisms of digital commerce. They do this in service of their mission to protect data and privacy as they help make the Internet a safer, more trusted place to gather, share, work, and trade. UTU's Trust Infrastructure is already being used by sharing economy and fintech platforms around Africa.
Graychain is the world's first credit bureau focused on crypto. Graychain has analysed over one billion public blockchain address and sells that analysis as credit scores to lenders across the globe. Graychain's primary data sources link financial data to addresses. Their upcoming self-verification portal will allow end customers to enhance their score in the US by giving Graychain access to their traditional credit data. Thanks to the partnership with UTU, African customers will 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.
One of UTU's core principles is that consumers should have ultimate control over their data. This agreement fully respects that principle by ensuring that Graychain's use of this data must be granted by its owner.
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."
UTU Technologies Limited (https://utu.io) is headquartered in Mauritius with operations in Nairobi, Kenya. UTU is backed by prominent global AI and Blockchain investors including SoftBank Group's DEEPCORE, Zeroth.AI, Animoca Brands, Artesian Venture Partners and æternity Ventures.
Graychain Limited (https://graychain.net) is headquartered in Hong Kong with operations in the United States and Thailand. Graychain is backed by Zeroth.AI, Animoca Brands, and Artesian Venture Partners.
SOURCE Graychain
Share this article