4 ms·
I was intrigued by the idea of using a blockchain to anonymize and secure lending, so I looked it up and a trial of such a thing was run a few months ago. I fou
by c3534l 9y ago
I was intrigued by the idea of using a blockchain to anonymize and secure lending, so I looked it up and a trial of such a thing was run a few months ago. I found this gem:
> TransUnion and Equifax said they are always assessing new ways to secure consumer credit data, an area that is tightly regulated by governments around the world.
https://www.reuters.com/article/us-canada-blockchain-credit/u-s-credit-agencies-test-canadian-blockchain-identity-network-idUSKBN1802OR https://www.reuters.com/article/us-canada-blockchain-credit/...
The irony aside, it seems like the exact sort of thing a blockchain is good for: verifying transactions with a high degree of anonymity among parties that fundamentally do not trust each other. If I say I've had transactions that I say I have, I should be able to send you a code for you to verify it. There's no reason why I shouldn't have to consent for my private financial information to be disclosed to strangers in the first place.
- jacobsimon 9y agoCheck out Cred - https://crednetwork.org https://crednetwork.org
- harryh 9y agoI don't see how using an anonymous blockchain is useful for storing credit data because it makes it trivial to walk away from a bad credit score and start over from zero. Also, FWIW you do have to consent for someone to run a credit check on you.