CIBIL for corporates?
Most financial institutions in India evaluate an Individual for creditworthiness based on their CIBIL score. However, no such creditworthiness scores are available for corporate.
I believe a lot of time and effort is spent by many companies in researching on the financial health status of other companies they are dealing with before they can supply them with services/goods on credit. I haven't found any existing solution (at least in the Indian context) that provides the creditworthiness of a corporate. With the new tax regime GST, I believe there is a scope for a good product that can be built over blockchain that would evaluate the creditworthiness of a company. Probably prevent another Stayzilla?
I am sure the same solution would find its application in other geographies too. I will update this blog with more details on the POC for this use-case that I am working in the weeks to come.
I believe a lot of time and effort is spent by many companies in researching on the financial health status of other companies they are dealing with before they can supply them with services/goods on credit. I haven't found any existing solution (at least in the Indian context) that provides the creditworthiness of a corporate. With the new tax regime GST, I believe there is a scope for a good product that can be built over blockchain that would evaluate the creditworthiness of a company. Probably prevent another Stayzilla?
I am sure the same solution would find its application in other geographies too. I will update this blog with more details on the POC for this use-case that I am working in the weeks to come.
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