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. In countries rich and poor, access to credit is a fundamental cornerstone of social mobility. No matter your age, gender, language or nation, credit is the key driving force to boosting prosperity. However, in a world of globalization, the credit industry is far from global.

People should not have to rebuild your credit from scratch when you move to a new country;

Billions of people around the globe should not be forced to take out dangerous, informal loans;

Governments should not lower your score because of your political affiliation, or require that you register to vote to have a high score

Individuals new to the credit system and fiscally conservative people should have alternative ways of showing creditworthiness beyond incurring a high amount of debt;

3 billion people around the globe deserve to have access to basic credit services.

These are the problems that Bloom will solve.

Bloom is a protocol for assessing credit risk through identity verification and the creation of a network of peer-to-peer and organizational creditworthiness vouching (“credit staking”). Basically, it provides a decentralized credit scoring powered by Ethereum and IPFS.

There are three components of the Bloom protocol:

BloomID lets users establish a global, federated identity with independent third parties who publicly vouch for their identity information, legal status and creditworthiness.

BloomScore is a dynamic indicator of an individual’s likelihood to pay debts that adapts to the maturity of a user’s credit history (or lack thereof).

BloomIQ is a decentralized system that manages credit history. One of its primary goals is to allow a user to import existing credit history to this system.

With the components above, Bloom aims to decentralizes the credit industry while lowering rates and increasing security.

The Bloom Token (BLT) is both the currency and scoring enhancement mechanism of the Bloom network. The Bloom token allows organizations to participate in evaluating user identities and creditworthiness. It also serves as the proposal and voting token to guide the evolution of the Bloom credit scoring system.

Also Bloom already has partnerships with a number of leading fiat and crypto lenders including Everex, ETHLend, Lendoit, Self Lender, among others.

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