Untangled Finance puts Moody's credit ratings on the blockchain

ChainCatcher news, according to CoinDesk, Untangled Finance and Moody's Ratings have completed a proof of concept that tests a system allowing decentralized access to Moody's financial data, transferring credit ratings on-chain.

The proof of concept conducted on the Polygon Amoy testnet integrates Moody's ratings into Untangled Finance's risk oracle, Credio.

The system uses zero-knowledge proof (ZKP) technology, allowing for the secure publication, updating, and revocation of credit ratings on-chain while protecting proprietary information.

This development can make risk assessment more transparent and efficient, enabling DeFi protocols and other blockchain-based applications to integrate real-time credit data without relying on centralized intermediaries.