A Blockchain Model to Uplift Solvency by Creating Credit Proof

A credit score represents an individual’s financial ability and stability which is calculated upon various factors like financial behavior of transacting, re-paying loan on time, spending in a healthy manner, etc. Approval for loans, credit score is strictly restricted for a set of people who have a strong economic support and perfect access to every transaction. But in a region with a major population that doesn’t even have access to digital transactions, this is a way to make them financially stable. By collecting various information about their financial history and setting up an application that can track financial behavior and store every transaction possible in blockchain, we can solve this problem. Blockchain-based ledger application is used to calculate credit score for non-registered people who cannot access credit score until now. This is more secure to store every transaction made by the user and analyze the behavior to generate a credit score. So that they can show it as proof for taking credit for their personal development and uses. Anyone who has an ability to take credit must not be wasted, because when there is a healthy flow of money, the healthier would be the country’s economy.