We’re excited to introduce zkCreditScore, a new credential in the zkMe Network that enhances users’ experience by securely managing their creditworthiness. This user profiling credential verifies users’ credit scores without compromising their privacy or creating data honeypots. With zkCreditScore, users can confidently engage with applications that prioritize their security, all backed by trusted, verifiable credentials in their Self-Sovereign Identity Wallet.

What is the zkCreditScore?

The zkCreditScore is a newly introduced credential within the zkMe ecosystem, designed to verify users’ credit scores securely and privately by leveraging ZKPs and zkTLS. It specifically targets holders of a U.S. Social Security Number (SSN) and a U.S. credit card. The zkCreditScore utilizes data from the three major U.S. credit reporting agencies: TransUnion, Equifax, and Experian, which specialize in providing personal credit reports and scores essential for assessing an individual’s creditworthiness. This ensures that only eligible users can access and utilize their credit scores in a secure manner.

To ensure a standardized evaluation, the zkCreditScore employs the FICO Score, a widely recognized credit scoring model developed by Fair Isaac Corporation and one of the most commonly used systems in the U.S. for assessing credit risk. Developed in partnership with Reclaim Protocol, zkCreditScore establishes zkMe as one of the earliest movers in the trustless bridging of FICO Credit Scores. By harnessing zero-knowledge technologies, this feature enables users to maintain complete ownership of their data, allowing them to demonstrate their creditworthiness without disclosing sensitive personal information.

Benefits of zkCreditScore

The integration of zk technology within the zkCreditScore credential offers numerous benefits, particularly in preserving user data privacy. Here are some key advantages:

• Data Privacy: Utilizing Zero-Knowledge proof (ZKP) and zkTLS, users can prove their creditworthiness without revealing the actual score or any underlying personal data.
• Self-Sovereignty: Users have complete control over their credentials, managing their credit score in a Self-Sovereign Identity(SSI) Wallet.
• Reusability: Streamline the process of verifying a customer’s credit score by allowing previously collected data to be reused across different services or institutions.

Use Case

The zkCreditScore can be particularly beneficial for individuals seeking loans or credit products. By providing verifiable proof of their credit score without disclosing sensitive information, users can access financial services more easily and securely. Additionally, businesses can leverage this credential to assess risk and make informed lending decisions while complying with privacy regulations.

How-to Guide

To utilize the zkCreditScore, follow these steps:

1. Create a zkMe Account on zkMe Identity Hub at app.zk.me.

2. Navigate to the “Credentials” Section on the left and choose “Credit Score”.

3. Click on “Get Proof Now”.

4. Select your “Credit Score” Agency. You are directed to connect your credit data sources securely to the zkMe Network.

5. After you select an agency, you will need to scan a QR code to verify.

To proceed, please check your device’s operating system:

• iOS: If the system version is lower than 17, you need to download the Reclaim Protocol app. If the system version is higher than 17, there is no need to download the Reclaim Protocol app; you can use it directly.
• Android: You need to download the Reclaim Protocol app.
• Additionally, you can scan the QR code directly with your phone’s camera without opening the browser to scan the QR code.

The QR code will be available for only 10 minutes for security purposes. If it expires, a new one will be generated. Please ensure to scan it and finalize your action promptly to avoid expiration.

6. Your credit score data will go through zkTLS, encryption, and ZKP, all processed locally on your device. Once it’s done, you complete the whole ZKP generation process.

7. Generate the “Credit Score” SBT on any zkMe-supported chain by clicking on “Mint Now”.

8. Share when needed: Present your zkCreditScore to verifiers when applying for loans or credit, ensuring your data remains private.

9. You have successfully completed your Credit Score verification and minted your Credit Score Soulbound Token. You will receive 30 XP and your Credit Score Badge to acknowledge your achievement in your Zero-knowledge Profiling journey.

The Upcoming Credit Score Campaign

We are excited to announce that the campaign for the zkCreditScore credential is rolling out soon. Participants will have the opportunity to complete the necessary steps to generate their zkCreditScore and earn Soulbound Tokens (SBT) to win experience points (zkMe XP). Stay tuned!

Conclusion

The zkCreditScore credential represents a significant advancement within the zkMe Network, facilitating secure and private verification of creditworthiness. Users can participate in the upcoming rewarding campaign to take full advantage of this innovative feature, enhancing their digital identity experience while ensuring their financial data remains protected. Join us in this exciting journey towards a more secure and privacy-focused financial landscape!

About zkMe Technologies

zkMe Technologies is the leading provider of zero-knowledge (ZK) identity verification solutions for Web3 developers. zkMe, the company’s flagship product, is a FATF-compliant decentralized identity solution that helps developers build scalable applications that seamlessly comply with new regulatory requirements without compromising user privacy or creating data honeypot risks.

Developers can easily integrate zkMe’s Compliance, Anti-Sybil, or User Profiling credentials into their dApps via an SDK or API. For more information, visit www.zk.me.

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