Category Archives: Bloom News
Update received from ETHLend…
ETHLend Partners with Bloom for Credit Ratings
Since May 2017 when ETHLend deployed the first live decentralized lending application on the Ethereum main network, we have been researching several options to provide sound lending experience for lenders and borrowers to minimize default risk.
Accordingly with our roadmap, ETHLend will develop the decentralized credit rating where centralized and decentralized credit rating systems can be used to minimize credit risk and conduct KYC on lending.
Today, we are happy to announce that Bloom is partnering with us on providing the ability to use local credit institutions’ credit scores for blockchain loans and in case of defaults, these defaults can be reported back to the credit rating agencies. With Bloom, we are providing more secure lending on our reputation based lending side.