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9:34 PM · Dec 31, 2024 · Accountable, a decentralized, privacy-focused data platform, has successfully raised $2.3 million in a seed funding round to further develop its innovative platform for verifiable credit scoring and risk assessment in the crypto lending market. This funding will be instrumental in expanding Accountable's reach and solidifying its position as a leader in transparent and secure lending solutions.
The round was co-led by MitonC and Zee Prime Capital, with significant participation from Maven 11 Group, CMCC Global, Summer Ventures, MOONHILL CAPITAL, and Aquanow. This diverse group of investors brings a wealth of experience and expertise in the blockchain and financial technology sectors, further validating Accountable's vision and potential.
Addressing the Transparency and Privacy Challenge in Crypto Lending
Accountable is tackling a critical challenge in the decentralized finance (DeFi) space: the inherent conflict between transparency and privacy in lending. Traditional credit scoring relies heavily on centralized data repositories, raising concerns about data security and individual privacy. Accountable's platform leverages cutting-edge cryptographic technologies, including zero-knowledge proofs (ZKPs), zkTLS, and secure enclaves, to provide real-time verification of assets, liabilities, and trading exposure without compromising sensitive user data.
How Accountable Works
Users connect their custodial and exchange accounts to Accountable's platform, which then generates cryptographically verifiable credit risk reports. These reports can be securely shared with lenders at the user's discretion, enabling trust and facilitating informed lending decisions. The platform supports over 30 blockchains, ensuring broad compatibility within the crypto ecosystem. Crucially, Accountable operates on a decentralized architecture, meaning no sensitive data is stored on centralized servers, mitigating the risk of data breaches and ensuring user control over their financial information.
Key Features and Benefits:
- Privacy-Preserving Transparency: ZKPs allow borrowers to prove their creditworthiness without revealing specific financial details.
- Real-time Verification: Lenders gain access to up-to-the-minute financial data, enabling more accurate risk assessment.
- Decentralized Architecture: Enhanced security and user control over data, minimizing counterparty risk.
- Broad Blockchain Support: Compatibility with over 30 blockchains ensures wide applicability across the crypto landscape.
- Proof of Solvency Solutions: Accountable offers tools for exchanges and stablecoin issuers to demonstrate their financial health and build trust with users.
Beyond Crypto Lending: Expanding Use Cases
Accountable's technology has applications beyond lending. Its verifiable data platform can be used for proof of reserves, KYC/AML compliance, and other scenarios requiring secure and transparent data sharing. This versatility positions Accountable as a key player in the broader movement towards a more trustless and transparent financial system.
Team and Vision
Accountable is led by a team of experienced professionals with a deep understanding of both traditional finance and the intricacies of the blockchain space. CEO Wojtek Pawlowski and CTO Ioan Moldovan bring a combined expertise from Maven 11 and M11 Credit, providing a strong foundation for Accountable's growth and development.
"If Accountable is right, they will be responsible for starting a great cycle of credit expansion in crypto," stated Rapolas, a representative from Zee Prime Capital. This sentiment reflects the widespread belief in Accountable's potential to unlock the full potential of decentralized lending.
Looking Ahead
Accountable is currently focused on serving institutional clients but plans to expand its services to a wider audience in the near future. With its innovative technology and strong backing from prominent investors, Accountable is poised to revolutionize the crypto lending landscape and pave the way for a more secure and transparent financial future.
About Accountable:
Accountable is a decentralized data platform that leverages zero-knowledge proofs and other cryptographic technologies to provide verifiable credit scoring and risk assessment solutions for the crypto lending market. The platform empowers borrowers to prove their creditworthiness without compromising privacy, while enabling lenders to make informed decisions based on real-time, verifiable data.
Compiled by CMO Intern team
