Bloom - Say Hello to Inclusive Credit

Bloom brings credit scoring to the blockchain. Founded Stanford engineers, Bloom makes credit global and inclusive. Bloom allows both traditional and digital currency lenders to serve billions of people who currently cannot obtain a bank account or credit score. Joey Krug (Augur / Pantera) and Joe Urgo (District0x) serve as advisors.

STO/ICO Status

Status
Successful
Symbol
BLT
Start Date
2017-11-30
End Date
2017-12-30
Hard Cap
50,000,000 USD
Initial Price
0.70 USD
Token Supply
150,000,000
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Basics

PlatformEthereum
TypeERC20
AcceptingETH
Circulating Supply50%
KYCN/A
Restricted AreasN/A
HomepageWebsite URL
White PaperView/Download

About

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.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.

Team

Meg Nakumura
Meg Nakumura
CEO of Shift Payments
Joseph Urgo
Joseph Urgo
Co-Founder District0x
David Raphael
David Raphael
Infinity Media
Devon Zuegel
Devon Zuegel
Independent Consultant