Bloom

Bloom

Created using Figma
Created using Figma
Decentralized credit scoring powered by Ethereum & IPFS. 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.
  • Market
    Pair
    Price
    Volume 24H
    24H (price)
    24H (volume)
  • Upbit
    BLT/BTC one hour ago
    $ 0.0618
    $ 5.257 K
    16.12%
    254.59%
  • Bittrex
    BLT/BTC one hour ago
    $ 0.0619
    $ 5.261 K
    16.16%
    254.74%
  • Idex
    BLT/ETH 2 hours ago
    $ 0.0576
    $ 2.878 K
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  • Uniswap
    BLT/ETH 11 hours ago
    $ 0.0720
    -
    -0.11%
    -100.00%
  • Bamboo Relay
    BLT/WETH 4 days ago
    -
    -
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  • TopBTC
    BLT/BTC 16 days ago
    $ 2.14
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  • TokenJar
    BLT/WETH one month ago
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  • CREX24
    BLT/BTC one month ago
    $ 0.0305
    $ 7.97
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  • AirSwap
    BLT/ETH 2 months ago
    $ 0.0788
    $ 15.75
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  • ForkDelta
    BLT/ETH 3 months ago
    $ 0.0619
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  • Radar Relay
    BLT/WETH 5 months ago
    $ 0.0001
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  • Bibox
    BLT/ETH 7 months ago
    $ 0.0458
    $ 1.518 K
    -20.60%
    -21.44%
  • Bibox
    BLT/BTC 7 months ago
    $ 0.0457
    $ 986.48
    -20.63%
    -45.82%
  • Everbloom
    BLT/ETH 7 months ago
    $ 0.0135
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Nov 30, 2017
Dec 14, 2017
100% completed
$43 767 115
87% goal completed
Goal 50 000 000.00 USD
past
Token Details
Ticker
BLT
Accepted Currencies
ETH
Company Details
Registered Country
United States
Additional Details
Platform
Ethereum
Categories
Platform

About Bloom

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:

  1. 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.
  2. 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.
  3. 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.
  4. 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.
  5. 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.

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.
  • Read More
  • 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.

Activity

Activity:
742
VERY HIGH
Posts:
173
LOW
Views:
19 109
VERY HIGH
Posts:
380
HIGH
Followers:
9 389
HIGH
Likes:
8 804
HIGH
Rating:
4.70
VERY HIGH
Followers:
447
VERY LOW
Tweets:
1
VERY LOW
30 Days Growth:
2
Members:
6 898
HIGH
30 Days Growth:
-205

Bloom Team

Verified 33%

Attention. There is a risk that unverified members are not actually members of the team

Meg Nakumura
CEO of Shift Payments
unverified
Joseph Urgo
Co-Founder District0x
unverified
David Raphael
Infinity Media
unverified
Devon Zuegel
Independent Consultant
unverified
Jesse Leimgruber
verified
Daniel Maren
unverified
Ryan Faber
unverified
Alain Meier
verified
John Backus
verified

Bloom Last News

$ 0.0598
12.13%
Coin Stats
Daily, %:
12.13%
Weekly, %:
-3.74%
Monthly, %:
-19.35%
Market Info
Market Cap:
$ 3.205 M
Volume 24h:
$ 13.128 K
Circ. Supply:
53.643 M BLT
Ticker:
BLT

Bloom Reviews

crushcrypto.com
review

Opportunities:
The Equifax hack in September 2017, which allowed attackers to obtain crucial personal identity information for 143 million people, shows that a decentralized and secured credit scoring system like the Bloom protocol is much needed.
Bloom is a protocol that other lending platforms can build on top of, meaning that Bloom will be mentioned anytime it is being used by a lending platform. In crypto, news flow is one of the factors that drive liquidity and price so this is important.
The co-founders all have impressive credentials, with Alain and John being in the identity space since 2013.
The white paper is well written and covers ways to prevent exploits of the protocol, for example, users creating a new BloomID after ruining the original one, or users manipulating BloomScore by creating fake BloomIDs to vouch for themselves. This shows that the team has put a lot of thoughts into the technical side of the project and shows the team’s competency.

Concerns:
The team has not developed any proof of concept/beta, so essentially this project is still at the white paper stage.
The project has a high hard cap of $50 million, the majority of which will be used for user acquisition. This makes sense from a business perspective, but in general, the higher the starting market cap for a project, the lower the potential return for ICO participants. Therefore, we believe the attractiveness of the ICO depends on how much funds are raised.
It looks like all the co-founders are working on Bloom on a part-time basis while they are also working on other businesses that they have founded. It is unclear how much time they are able to allocate to Bloom.
There is no estimated completion timeframe for the milestones listed in the roadmap, so we are unsure when the protocol will be completed and ready to roll out.

Conclusion
Overall, we are neutral about this ICO for its short-term potential and like its long-term potential if it raises less than $30 million from the ICO. Our thoughts of the tokens for short term and long term are as follows:
For ​short-term holding
Neutral. Hard cap of $50 million is very high, especially for a white paper project. We are not sure if the project can reach the hard cap, so there may not be unmet demand for the ICO.
For long-term holding
Depends. We believe the project can provide attractive long-term return if the project raises less than $30 million, otherwise we are neutral. Even though the team is impressive and they have a well-thought-out plan, the project is at a white paper stage and it probably takes a long time for the protocol to launch.

Read More
bitcoinexchangeguide.com
reviews

The ambitious hard cap of $50 million is also on the steep side. While the project idea of decentralized credit scoring and lending platform is ostensibly great, the team has impeccable credentials and the white paper is thorough although, there is a lack of proof of concept.

The team is also seemingly working part-time on the project seeing that there is an unclear timeframe for the roadmap.

Read More
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