Rumors from the pub

Merit will revolutionize the credit reporting and lending industries. Beyond the classic credit score as they know it, Merit will provide an individual, personally-controlled profile made up of factors that you determine are reflective of your true and accurate credit worthiness, or your “Merit”. Significant and individually relevant data can be combined with a classic credit score to facilitate a more accurate and fast credit worthiness evaluation. Applications and approvals related to complex transactions will be easier, as the User and credit provider will be able to digitally and instantly request and provide necessary and relevant data. Credit providers will also be able to select groups of Users, based on specific, searchable data criteria, who qualify for specific offers. Data will be stored, shared and secured on the blockchain. Users will share their selected and relevant data via hashed unique keys purchased with Merit Tokens. The ultimate goal is to create a world-wide credit worthiness for everyone, your Merit.

The Solution: MERIT

Merit will bring creditworthiness into the digital age with two key steps to optimize the process:

1. With the power of the blockchain, Merit will provide both a high level of security, as well as rapid transactional access to information relevant for determining true creditworthiness, beyond the classic credit score, for both the User and creditors or information requestors; and

2. Use of the blockchain will enable the User to have complete control over their personal data.

Identity Data Sharing

The current method of identifying who someone is depends upon a variety of supporting documents, such as a passport, driver’s license, degrees, certificates, awards, etc. Historically, it also requires face to face interactions. Together, they define who a person is and what their accomplishments are. However, methods such as tracking or identifying an individual through a social security number have become outdated and unsecure. Identity thieves steal people’s identities every day with ease by using very few points of data, such as a social security number and/or a birth date.


The Merit service will create a decentralized system to provide the User’s identity and supporting data to third parties without revealing the User’s detailed personally identifiable information, such as a social security number. User data will be stored and shared through the blockchain and data blocks. The only User data stored in the blockchain will be the addresses to a User’s data store. Data blocks will be encrypted, segmented, duplicated and distributed, throughout the peer-to-peer networks on individual computers in an IPFS, thereby reducing the risk of data loss, hacking and stealing. IPFS Merkel Hash (each referred to herein as a “Hash”), corresponding to the User’s data, will be stored separately from the data block in a smart contract as the User record. Merit’s primary smart contract will then maintain a map of all Users’ Hash entries necessary to identify and retrieve their respective User data. Creditors will interact with the Merit smart contract using the User’s Hash provided to them. Once the User’s Hash is entered by the creditor, Merit then maps it to the User record, retrieving that User’s data and performing the transaction it was engaged to do.


ICO Supply and Offering
Merit Token Maximum Supply: 500,000,000
Merit Token Offering: 250,000,000
Price Per Merit: (USD) $0.40
Merit Minimum Transaction: 100 Tokens

Source: youtube/Meritt Protocol

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