More exciting news here at RCN! We are really happy to announce our new partnership with Bloom. An end-to-end protocol for identity attestation, risk assessment and credit scoring, Bloom will enable RCN Network wallet agents to get relevant and accurate information to identify and score customers for a seamlessly loan origination process.
Through Bloom´s protocol, wallets and other third parties that get integrated into the RCN network, will be able to assess their customers’ identities and credit scores securely using Bloom’s technology. Wallets that also act as credit exchanges will be able to verify lenders’ identities as well. In particular, by leveraging BloomID and BloomIQ, companies providing services through RCN can improve enforceability and payback rate of loans by verifying a user’s identity and connecting their payback to a global reputation system.
In case you are wondering how this works, Bloom´s protocol includes the following three key components:
1 — BloomID, which lets users establish a global, federated identity with independent third parties who publicly vouch for their identity information and legal status.
2 — BloomScore, which provides a dynamic and inclusive indicator of an individual’s likelihood to pay debts that adapts to the maturity of a user’s credit history.
3 — BloomIQ, for reporting and tracking current and historical debt obligations that are tied to a user’s BloomID.
Let’s go over an example that shows how these two technologies work together and make the identity verification and credit score assessment process much easier.
read more and link :https://medium.com/@rcn_news/announcing-rcn-partnership-with-bloom-4c1d3b18cae8