Exploring Personal Credit Evaluation Model Based on Blockchain

With the fast development of financial systems, there are many deficiencies appeared in traditional credit evaluation models which can't satisfy the needs of reliability and efficiency. In this paper, we firstly analyze the deficiencies such as excessive centralization, fake data identification and data transmission lag in existing credit models which brought some difficulties of credit evaluation in different types of customers. For solving these problems, we have introduced "Coin-day Destruction" credit model in blockchain and used decentralized data sources, periodically historical data destruction and other methods to explore a blockchain based personal credit model. In the experiment with real-world dataset, it has shown a better performance comparing to traditional statistical credit models.