admin For decades, credit scoring systems have excluded millions of people, relying on limited financial data like bank transactions, credit card histories, and centralized records. These systems often fail to capture the broader picture of an individual’s financial reliability. Trumnix’s TruScore offers a fresh solution by utilizing AI to revolutionize credit assessments in the decentralized finance (DeFi) space.
What is TruScore?
TruScore is a dynamic credit scoring system powered by artificial intelligence. It evaluates a borrower’s financial reliability using a mix of on-chain (blockchain-based) and off-chain (external) data. Unlike traditional systems, it provides a fair, real-time, and comprehensive view of creditworthiness.
How Does It Work?
- On-Chain Data Analysis:
- TruScore reviews wallet activity, transaction histories, and engagement with DeFi protocols.
- Metrics such as borrowing frequency, repayment behavior, and collateral management are factored in.
- Off-Chain Data Integration:
- Using oracles like Chainlink, TruScore incorporates alternative financial signals, such as utility payments, rental history, or even verified social media activity.
- By analyzing non-traditional indicators, TruScore creates opportunities for borrowers without formal credit histories.
- Real-Time Updates:
- Unlike static credit scores, TruScore evolves dynamically. If a borrower improves repayment habits or expands their financial activity, the system adjusts the score instantly.
Why TruScore Matters
Traditional systems often punish individuals for past mistakes or lack of financial access. TruScore breaks this cycle by prioritizing real-time behaviors and inclusivity. Borrowers who were once overlooked now have access to fair lending opportunities, while lenders gain deeper insights into borrower reliability.
By leveraging AI, TruScore aligns perfectly with the decentralized ethos of DeFi—fair, transparent, and accessible for all.