The problem ReCred solves

ReCred can reduce the collateralization requirements for people who do not have extra funds and help assess users’ creditworthiness via attributes around reputation and financial activity, instead of traditional data points such as home ownership and income. The DeFi space prizes data privacy around personal identifying information, as well as open access.
We aim to provide a decentralised credit score which can reduce users collateral requirement while applying defi loans.

Challenges we ran into

Creating Solana Smart contracts over rust and using web3 solana javascript library. Solana documentations helped in understanding concept easily but there was a lack of practical examples.