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
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What is Bloom
The Bloom protocol presents solutions to the following problems:
There are three main systems which comprise the Bloom protocol:
The Bloom protocol improves the current credit ecosystem by creating a globally portable and inclusive credit profile, reducing the need for traditional banking infrastructure and opaque, proprietary credit scores. This means both traditional fiat lenders and digital asset lenders will be able to also securely serve the 3 billion people who 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.
DetailsPublic sales: Nov 30, 2017 - Jan 01, 2018
Token supply: 150,000,000 BLT
Hard cap: 50,000,000 USD
Raised: 40,000,000 USD
LegalBlockchain Platform: Ethereum
Token infoTicker: BLT
Token standard: ERC20
Accepted currencies: ETH
Phase 1 will allow for users to use BLT to invite their friends and colleagues to seed the initial network securely. Users with BLT will be able to vote on early development-related proposals for the future of the network.
Phase 2 will deploy an application allowing users to verify their identity and get matched with their BloomID. During this phase, users will be able to confirm identity information as well as add additional information which will be reflected in their score.
Peer to Peer staking modules will be built first, followed by organizational staking.
Phase 4 will allow users to check their score, as well as open up a developer ecosystem for additional decentralized lenders to check a given users BloomScore, providing sufficient privileges are granted from the loan recipient.
Once the risk assessment and scoring protocol is complete, Bloom will launch the BloomCard. The BloomCard will serve as the first full credit card on the blockchain, offering credit services to the nearly three billion individuals who are currently not able to participate in the global credit ecosystem.
BLT flows through the network. Lenders, data attestation providers, and borrowers all own Bloom Token and their amount acquired will correlate to their influence on the network. As a result, there is an even distribution of BLT relative to a given players influence in the ecosystem. Assigning the ability to propose and vote on scoring-level improvements and accrediting actors within the network to these tokens creates a fair and democratized setup.