The complex process of building a personal or business credit profile can now be simplified with LedgerScore. It has different financial products and a dashboard that provides access to digital solutions such as employment verification, secure digital ID, smart contract library, cryptocurrency wallet, income verification, credit reports, and LedgerScore LED tokens.
Through the use of patent-pending technologies, it is able to collect data of anyone’s cryptocurrency transactions and leverage them to provide independent financial reporting on Decentralized Finance (DeFi) and traditional lending. It opposes the conventional credit reporting services and when it releases on May 31 this year, it will change the way bank lending for crypto users works.
The LedgerScore wallet
With LedgerScore, verified crypto credit score, payments, income, assets, and identity of potential borrowers are provided to lenders. The good thing about it is that it doesn’t just focus only on providing credit scores to aid banks in assessing the payment capacities of borrowers.
The technology behind LedgerScore also provides a Digital ID feature, digital currency wallet, a built-in exchange platform, and its own payments processor. The cryptocurrency wallet is highly responsive for smooth interactions and transactions, easy to use, and allows users to store all of their digital assets in one place. By participating in marketing rewards programs, wallet owners also have a chance to earn cryptocurrency.
The LED token
LedgerScore is home to the LED tokens. At the end of the month, when it launches on TrustSwap, LedgerScore will release more than 21 million LED tokens priced at 3 cents per unit, enough to raise $632,000.
In the coming months, almost 45 million additional tokens will be released on a weekly basis. LedgerScore will release the tokens depending on the demands on the market. Overall, there are 66 million LED tokens that will be released on TrustSwap, up for grabs for all users.
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Source: https://bitcoinerx.com/blockchain/ledgerscore-simplifying-credit-profile-creation/
