DeFi has come to this day, and to be honest, it is still very limited.

Want to borrow 100 yuan from the platform? You have to press 150 bitcoins first. This is the norm for on-chain lending now - overcollateralization. It sounds ridiculous, but it reflects the biggest problem with blockchain: the system doesn't know you at all and doesn't know anything about your credit.

In the real world, you have a job, income, and credit record, and the bank will give you a credit loan based on these. But it's not the same on-chain. No one knows who you are, how much money you make, and if you don't pay it back. Therefore, it can only rely on collateral to ensure security. The cost of this is that the capital efficiency is extremely low, and the money you can borrow is far less than your real carrying capacity.

To break the game, there is actually only one way: to move the real credit data to the blockchain.

There's a project doing this. It is a decentralized oracle with the core goal of connecting real-world financial credibility to the DeFi ecosystem. How to do it? Directly process desensitized bank statements or credit reports with AI-powered verification technology. The key is that it uses privacy-preserving technologies such as zero-knowledge proofs, which can verify your ability to repay without revealing your privacy. Once verified, an on-chain credit score can be generated for users, ensuring data quality and preventing fraud throughout the process.

With a credit score, the lending agreement immediately reduces the collateral ratio requirements. Users can obtain real-time data through data push and data pull, and risk exposure can also be dynamically updated.

More ambitiously, the system not only supports crypto assets, but also handles intangible assets such as stocks, real estate, game data, and even future personal credit. At present, it has covered more than 40 different data types, and the scale of the ecosystem is still expanding.