Bloom Token (BLT)

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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. 

The current credit infrastructure faces a number of challenges. Due to the lack of international portability for credit histories, people have to re-establish their entire credit records. The credit system operates on an outdated mechanism for recording data related to debt repayment. Lenders do not have a global loaning capacity. The system is vulnerable to identity theft. It follows a centralized uncompetitive framework. Bloom strives to address and resolve all these problems.

Bloom - The Basics

1. Bloom is a decentralized credit platform that examines credit risk on a peer-to-peer network. The platform provides identity verification services to its users while also establishing their creditworthiness.
2. The project is developing itself as a secure and global credit system to replace the inefficient traditional framework. It not only helps users to port their credit histories internationally but also enables asset lenders to provide cross-border loans.
3. One of the primary concerns of the Bloom protocol is to create a healthy, competitive credit scoring ecosystem.

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