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Bloom (BLT)


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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Project industryFinance Services & Banking
Product typePlatform
FoundedUnited States
Genesis date2017-11-29
WhitepaperBloom White Paper Download


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What is Bloom

The Bloom protocol presents solutions to the following problems:

  • Cross-Border Credit Scoring: Credit histories are not portable across countries, forcing individuals to re-establish their credit track records from scratch when they relocate.
  • Backward-Looking Creditworthiness Assessment: Credit systems rely on historical debt repayment information and therefore cannot easily accommodate users who are new to credit. This is especially prevalent among minorities, the underbanked, and the youth.
  • Lenders Have Limited Ability to Expand and Offer Loans Globally: Borrowers in markets with less developed financial and regulatory infrastructure struggle to access credit as lenders have limited identity and scoring data to base credit decisions.
  • High Risk of Identity Theft: Borrowers must expose all of their personal information when applying for a loan - the same info an attacker can use to open new lines of credit.
  • Uncompetitive Credit Scoring Ecosystem: Credit data is centralized. In most markets, a single provider scores credit, resulting in an uncompetitive ecosystem for evaluating credit risk. FICO was checked on 90% of all U.S. Loans.
  • There are three main systems which comprise the Bloom protocol:

  • BloomID (Identity Attestation): BloomID creates a global secure identity, allowing lenders to offer compliant loans globally, without forcing borrowers to expose personal information.
  • BloomIQ (Credit Registry): BloomIQ is a system for reporting and tracking current and historical debt obligations that are tied to a user’s BloomID.
  • BloomScore (Credit Scoring): The BloomScore is a metric of consumers’ creditworthiness. This decentralized score is similar to FICO or VantageScore score, but with updated models.
  • 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.


    Public sales: Nov 30, 2017 - Jan 01, 2018
    Token supply: 150,000,000 BLT
    Hard cap: 50,000,000 USD
    Raised: 40,000,000 USD


    Blockchain Platform: Ethereum

    Token info

    Ticker: BLT
    Type: Utility-token
    Token standard: ERC20
    Accepted currencies: ETH

    Bloom Roadmap

    Phase 1: Bloom Invitation System and Voting

    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: Bloom Identity Matching (BloomID)

    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.

    Phase 3: Credit Staking (Precursor to BloomScore)

    Peer to Peer staking modules will be built first, followed by organizational staking.

    Phase 4: Creditworthiness Assessment (BloomScore)

    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 user’s BloomScore, providing sufficient privileges are granted from the loan recipient.

    Phase 5: Bloom Credit Protocol Launch + BloomCard

    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.

    Phase 6: Democratized Autonomous Credit Infrastructure

    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 player’s 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.

    Project team

    Geofrey Arone
    Geofrey Arone
    Geofrey Arone linkedin
    Alain Meier
    Alain Meier
    Alain Meier linkedin
    Diana Bushard
    Diana Bushard
    Chief Legal Officer
    Diana Bushard linkedin
    Derek Silva
    Derek Silva
    Head of Community & Developer Relations
    Derek Silva linkedin
    Jesse Leimgruber
    Jesse Leimgruber
    Jesse Leimgruber linkedin
    David Raphael
    David Raphael
    Head of User Acquisition
    David Raphael linkedin
    Connor Hays
    Connor Hays
    Senior Researcher
    Connor Hays linkedin
    Ryan Faber
    Ryan Faber
    Ryan Faber linkedin
    Eddie Hedges
    Eddie Hedges
    Full Stack Developer
    Eddie Hedges linkedin
    Steve Mullins
    Steve Mullins
    Steve Mullins linkedin
    Dustin van Schouwen
    Dustin van Schouwen
    Full Stack Developer
    Dustin van Schouwen linkedin
    Shannon Wu
    Shannon Wu
    Founding Team Member
    Shannon Wu linkedin
    Jace Hensley
    Jace Hensley
    Software Engineer
    Jace Hensley linkedin
    John Backus
    John Backus
    John Backus linkedin
    Michael Welnick
    Michael Welnick
    Software Engineer
    Michael Welnick linkedin
    Isaac Patka
    Isaac Patka
    Blockchain Developer
    Isaac Patka linkedin


    Joseph Urgo
    Joseph Urgo
    Co-founder at district0x
    Joseph Urgo linkedin
    Brandon Arvanaghi
    Brandon Arvanaghi
    Security Engineer at Gemini
    Brandon Arvanaghi linkedin
    Luis Iván Cuende
    Luis Iván Cuende
    Co-Founder at Aragon
    Luis Iván Cuende linkedin
    Daniel Maren
    Daniel Maren
    Co-Founder at Hypernet
    Daniel Maren linkedin
    Joey Krug
    Joey Krug
    Co-Chief Investment Officer at Pantera Capital
    Joey Krug linkedin
    Meg Nakamura
    Meg Nakamura
    Co-Founder at Shift Payments
    Meg Nakamura linkedin

    Social media

    Bloom web-siteBloom RedditBloom MediumBloomYouTubeBloom TelegramBloom BTCTalkBloom TwitterBloom FacebookBloom Slack

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