We will integrate the UTU Trust API and Creditworthiness API with API3’s Airnode to provide on- and off-chain data accessibility.
Hello UTU Trust Guardians!
We are excited to announce that we have formed a partnership with API3 to provide a first-party oracle connection for developers looking to integrate our AI-powered APIs!
Read on to learn more about API3 and how we’ll work together.
What is API3?
API3 is leading the movement from legacy third-party oracle networks to first-party oracle solutions that deliver more security, efficiency, regulatory compliance, and simplicity.
How will UTU and API3 work together?
First, we will make our Trust API and Creditworthiness API accessible via API3’s Airnode first-party oracle. This means that developers who want to increase trust of their marketplace dApps can use API3 to easily integrate our Trust API, and developers building lending dApps can do the same with our Creditworthiness API.
Through API3’s Airnode, we will bridge data and services between our APIs and multiple blockchains where API3 is deployed.
Our AI-based Trust API provides improved rating and review functionality and uses on- and off-chain data to deliver personalized recommendations for marketplace applications.
Our Creditworthiness API also uses artificial intelligence and various datasets to increase the accuracy of creditworthiness assessments to facilitate undercollateralized loans and financial inclusion for both traditional and decentralized finance.
Additionally, UTU is now part of the API3 Alliance, a strategic coalition of API providers who believe that we should be able to share the same data and services we currently offer to web applications directly to Web3 consumers, without having to rely on third-party middlemen.
Finally, UTU and API3 will explore the use of Airnode for delivering and tracking the UTU Trust Token (UTT) across chains.
Users in the UTU ecosystem receive UTT for providing accurate reviews and sharing data with the protocol. UTT is non-transferable but can be converted into UTU Coin, but not the other way around, which prevents users from “buying trust”.
API3 is the leading first-party blockchain oracle solution empowering the world’s premier API providers to offer their services directly to Web3 applications. Airnode, its open source, provider-operated oracle and value-added services such as dAPIs are governed by a decentralized autonomous organization (DAO) comprised of stakeholders, industry experts and project partners. API3 embodies the values of maximum transparency and minimum trust as it works to build the Web3 API economy. Read their full whitepaper here.
UTU is building the trust infrastructure of the internet to help businesses and consumers engage and transact in an easier, safer, and more trustworthy way.
Our AI-based API products collect and analyze data to create trust signals and personalized recommendations that help consumers and businesses make the best decisions for their situation. And the UTU blockchain protocol rewards users for trustworthy actions and compensates them for sharing their data while protecting their privacy.
UTU changes the economics of trust, ensures trust can’t be bought or manipulated, and leverages data to help people make better decisions.
We are proudly based in Nairobi, Kenya.
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