LinkEye is a Hyperledger Fabric based consortium-blockchain solution to facilitate global credit alliance.
Utilizating blockchain technology and a credit economy model enables LinkEye to create a shared list of untrusted profiles within the credit alliance through connecting isolated islands of credit data and creating a comprehensive, reliable credit database. This serves to boost and supplement the credit system of today’s society, eventually achieving the end goal of creating fairness in credit access for all. The LinkEye project has massive potential to promote the development of a global credit-based society at a social and technological level.
A traditional data center stores data on a central server that is fully controlled by a data center in which the data is susceptible to modification. In such cases, there are risks that the data could be tampered with, deleted, or sold to other parties by data centers for profit. With the current models of data unions, a number of small data centers will usually be attached to a large data center for data exchange. All data transactions made would go through a large data center, opening up the possibility of collusion or theft of the data due the control of one institution. Blockchain is a decentralized distributed data storage technology. It is a secure and reliable system that facilitates data transactions between institutions and individuals without a central authority. Powered by cryptography, decentralized consensus, and peer-to-peer network communication, blockchain prevents data from being tampered with or deleted. Utilizing such technology allows LinkEye to ensure that data is trustworthy and permanent once being published on a blockchain, resulting in a trusted data system.
LinkEye is operated by a team of financial professionals with years of experience in both traditional banking and Fintech. The team has developed its own insight on the credit business and IT, allowing them to strategically plan and deliver the project.
Success and Achievements
LinkEye’s founding team has a deep understanding of and a comprehensive skill set in risk management, business development and product development. Working together for over three years, the team has accomplished many milestones which include developing a credit platform with over 1,000 credit financing service providers, operating a payment platform with monthly transaction amounts of 5 billion RMB and a technology-driven micro financing service platform serving millions of users.
The key to developing a credit union is partnering with many qualified members. After working in the credit industry for years, the LinkEye team has been able to swiftly kick-start this project by generating millions of initial credit data points through the establishment of strategic partnerships with credit loan agencies in China and Malaysia. The accumulation of this initial data is expected to exceed tens of millions in the near term.
The LinkEye Token, or LET is a contract token issued on ERC20 to ensure efficiency on the LinkEye platform. By using LET, the platform achieves high-speed, low-cost, and real-time database accounting. By combining LET and smart contracts, peer-to-peer data sharing is truly realized so that the complexity and risks caused by a centralized clearing house are avoided.
LET will be used as a user's credentials for querying data on the LinkEye platform. The user queries the data for a certain amount of LETs, and alliance members are able to earn LET by listing the data. LET can be obtained by sharing data from LinkEye platform or acquired from a secondary marketplace.