Decentralized credit scoring powered by Ethereum and IPFSBloom is a protocol for assessing credit risk through federatedattestation-based identity verification and the creation of anetwork of peer-to-peer and organizational creditworthinessvouching (“credit staking”). Bloom is a standardized, programmable ecosystem to facilitate on-demand, secure,and global access to credit services. Bloom presents a novel approach to credit riskassessment allowing both traditional fiat lenders and digital asset lenders to issuecompliant loans on the blockchain while increasing competition to lower fees andimprove borrower experience at every layer of the credit issuance process.
Bloom additional differentiation against competition
The Bloom protocol improves the current credit ecosystem by creating a globallyportable and inclusive credit profile, reducing the need for traditional banking in-frastructure and opaque, proprietary credit scores. This means both traditional fiatlenders and digital asset lenders will be able to also securely serve the 3 billion peoplewho currently cannot obtain a bank account or credit score.Bloom decentralizes the credit industry while lowering rates and increasing security.Bloom makes it easy for lenders to transition to the blockchain by offering a new,compliant way for them to access new markets.
Bloom is an end-to-end protocol for identity attestation, risk assessment and credit scoring, entirely on the blockchain. Bloom allows both traditional and digital currency lenders to serve billions of people who currently cannot obtain a bank account or credit score.
Abstract
Bloom is a standardized, programmable ecosystem to facilitate on-demand, secure, and global access to credit services. Bloom presents a novel approach to credit risk assessment allowing both traditional fiat lenders and digital asset lenders to issue compliant loans on the blockchain while increasing competition to lower fees and improve borrower experience at every layer of the credit issuance process.
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