ZJLT frames model for decentralised enterprise credit rating

Tuesday 29 May 2018 13:58 CET | News

China-based ZJLT Distributed Factoring Network has launched an enterprise credit rating model meant to reduce the credit calculation errors.

The current various commercial credit evaluation systems lack unified authoritative standards, wherein enterprise credits cannot be transferred out of the chain, and most credit rating agencies do not publicly disclose their rating standards. With the accumulation of multi-dimensional business data, existing enterprise credit rating methods become less efficient in exploring the value of enterprise data.

Considering this, ZJLT Distributed Factoring Network presents a new enterprise credit rating model. It can comprehensively evaluate the credit rating of a company based on the credit level and evaluation of its cooperative enterprises, flows of goods, funds and invoices, as well as its enterprise tax and credit performance.

With the blockchain technique, ZJLT Distributed Factoring Network hopes to provide an infrastructure for enterprises to prove and control their own credits, so as to realise the intercommunication and circulation of credit value among different enterprises and promote the vitality of the whole social ecology.

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Keywords: ZJLT Distributed Factoring Network, credit rating, China, commercial credit evaluation systems, supply chain finance
Countries: World