Bloom BLT White Paper

Bloom BLT White Paper
Bloom BLT White Paper

Hello and welcome to this blog post about Bloom BLT White Paper. I am very excited to know that you are interested in this amazing technology, you will be going to amazed by the incredible potential of the blockchain.

There is a lot to learn about this futuristic tech, lets get started to dive into the Bloom BLT white paper and start to leverage it to build a more secure and trusted ecosystem for Industry 4.0 applications.

The aim of this blog post is to help you quickly understand about the philosophy behind the Bloom BLT.

I can ensue you that, you will be able to understand every bits and pieces related to Bloom BLT after going through the Bloom BLT white paper.

Without wasting any further time lets get started to dive right in and lets understand white paper first.

What is white paper?

A white paper is an informational, influential, well-structured document, usually published by an organization, to provide in-depth information about a specific solution.

A white paper is used to provide a good insight into the challenges for a specific problem and a proposed solution for the same.

Bloom BLT White Paper

Bloom BLT white paper will be going to provide you, all the information that is needed to get started with Bloom BLT, including the inspiration for creating, the problem it is trying to solve and the solution proposed by Bloom BLT.

Must Read: Facebook Meta – The Complete Guide to the Metaverse and How it Will Shape the Future of Virtual Reality


In this whitepaper, we introduce a global, decentralized credit protocol, Bloom. Bloom addresses these existing limitations in lending by moving credit scoring and risk assessment to the blockchain. 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[5].

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[2].

White Paper Link: Bloom BLT White Paper

That’s all for this blog post.

It will be great if you can help me to spread the word about this Bloom BLT white paper by sharing this post.

If you have any questions related to the Bloom BLT or need some further information or have some specific queries, feel free to ask your questions in Comment Section.

I monitor this section very closely and answer all your questions as fast as possible.

Also keep visiting us, as we keep on adding new content very frequently. You can also follow us on social media to get frequent updates.


Please enter your comment!
Please enter your name here