What Is Goldfinch?
Goldfinch is a decentralized credit protocol that aims to bring all global credit activity on-chain and expand capital access, promoting financial inclusion.
Background
Mike Sall and Blake West founded Goldfinch in 2020.
How It Works
Goldfinch’s mission is to unlock cryptocurrency capital for most people worldwide, who until now have had no access to it until now. It achieves this without requiring crypto collateral, a unique approach in the crypto lending space.
The protocol operates on the principle of trust through consensus. It allows borrowers to demonstrate creditworthiness based on the collective assessment of other participants instead of relying on over-collateralization with crypto assets.
Key Takeaways
- Goldfinch is a decentralized credit protocol that aims to increase capital access and promote financial inclusion.
- It was founded in 2020 by Mike Sall and Blake West.
- The platform’s mission is to unlock cryptocurrency capital for a global audience, especially those who previously didn’t have access.
- Unlike many other platforms, Goldfinch does not require crypto collateral.
- The protocol operates on the principle of trust through consensus, allowing borrowers to demonstrate creditworthiness based on the collective assessment of other participants.
