2 posts tagged with "Protocols"

"Our current credit system says, 'Saddle yourself, so we can give you more to saddle.'" Eric Lapin, President of FormFree, stated during a recent TBD live stream. His comment sheds light on a fundamental paradox of the U.S. credit system: it often requires you to accumulate debt as a prerequisite for obtaining loans, leading to more debt. This systemic issue is underscored by recent data from the Federal Reserve Bank of New York, which reveals that 1 in 5 applicants for mortgages, car loans, or other types of loans were rejected — the highest rate in five years. This trend disproportionately impacts Black and Latino applicants. Guided by their slogan, 'Democratizing lending for all people without bias,' FormFree developed a platform built with Web5 and AI to address these issues.

I wanted to learn more about how Web5 (and SSI in general) works and the benefits it could offer. To do this I created a simple project to create and store DIDs, and use them to read and write to a DWN using a protocol.