Pave

Having spent 5 years lending to those with limited credit histories, Pave is building a decentralized and Global Credit Profile (the “GCP”) that gives a user visibility, ownership and control over their financial data. By democratizing access to financial data the GCP application will allow the user to engage, monitor and build out their financial profile on a global basis. In much the same way as LinkedIn displays an individual’s resume the GCP will display a comprehensive financial profile that evolves and grows with the user.
Through utilizing blockchain related technologies, an individual’s financial profile will become an asset, portable on a global basis, immutable and secure. No longer will an individual’s financial data and credit profile be owned and controlled by third party credit bureaus but will be transferred into the hands of the individual. By putting the user in charge of their financial data, a new level of transparency will be brought to consumer credit. Encapsulating both traditional credit data and alternative payment and social data, the GCP will allow the individual to share a more complete and accurate picture of their financial health.
With the launch of the GCP, individuals will, for the first time be able to transact their own financial data. With the individual in charge of their own financial data it’s envisaged that participants in this new, user driven ecosystem, will have access to a richer and more accurate data set than exists today. Individuals will be rewarded for sharing such data with third parties, with the benefit ultimately being better access to credit and financial services. Financial service and product providers will be able to broaden their consumer offerings which in turn will benefit consumers even more. Our vision is that a rich ecosystem of financial services and products will develop from this user driven and constantly growing data.