CARMACHAIN is a blockchain-based marketplace that enables individuals and businesses to retain ownership of their data while securely monetizing it through controlled access. The platform addresses the lack of access to alternative credit data for underserved populations, facilitating financial inclusion and efficient data utilization in Nigeria.
Funding
Funding not disclosed
Founders
Product
Problem
Many individuals and businesses, particularly in underserved populations, lack control over their data and struggle to monetize it securely. This absence of data ownership limits access to essential services like credit and hinders efficient data utilization.
Solution
CARMACHAIN is a blockchain-based platform that empowers individuals and businesses to retain ownership of their data while securely monetizing it through controlled access. The platform leverages blockchain technology to ensure data integrity, security, and transparency through OAuth 2.0 Authentication, RSA Encryption, and ISO 27001 Compliance. By enabling users to control who can access their information and get paid each time their data is accessed, CARMACHAIN bridges the gap between data ownership and utilization, fostering financial inclusion, operational efficiency, and trust. The platform facilitates alternative credit data access, address verification using electronic utility bills, streamlined debt recovery contact point investigations, and seamless KYC validation.
Target Audience
The primary target audience includes underserved individuals seeking to build credit scores and businesses in Nigeria needing efficient data solutions for KYC, address verification, and debt recovery.
Features
- Blockchain-based data management for secure and transparent data handling
- OAuth 2.0 Authentication for secure access control
- RSA Encryption for data protection
- ISO 27001 Compliance for adherence to international security standards
- Decentralized data aggregation for efficient data utilization
- Monetization tools that allow users to get paid when their data is accessed
- Support for building credit scores using alternative data
- Electronic utility bill verification for address validation
- Streamlined contact point investigations for debt recovery
- KYC validation for customer verification