Blockchain credit history
In a blockchain credit history way to how Uber made it possible to monetize your car, blockchain credit history will enable you to monetization an ever increasing universe of assets. Instead of a blockchain run by a startup, however, some foresee the credit bureaus building a blockchain of their own. What would you program your money to do, if you could program it to do anything? Ultimately, what we are talking about is providing a new source of money creation.
Today, we live in a world of over indebtedness and debt can be crippling when the money borrowed is used in unproductive ways. More posts by this contributor The Third Age of credit The next revolution will be reclaiming your digital identity. Getting everyone in the Blockchain credit history. The fallout from the massive breach sparked conversations on creditforced us to re-evaluate our blockchain credit history credit system and finally inspired the companies to look beyond the Second Age.
Today, buoyed by a plethora blockchain credit history technologies and a golden age for abundant data, credit is undergoing its most radical change yet. In this picture, there is no room for a credit system: Naturally, talking about the future of credit, we have to talk about blockchains. Blockchain, however, will change the credit landscape.
Future blockchain credit history decisions are going to be shifting away from credit analysis and moving heavily towards asset analysis. We have no choice how that information is used more than billion FICO scores have been sold. If I am a blockchain credit history farmer, and I want to buy shoes from a cobbler, then my only hope is to find a cobbler who wants some of my chickens. Blockchain technology is driving the next evolution of consumer credit and the implications are going to be far more meaningful and widespread than prior financial innovations. Better risk pricing will continue to drop rates at which consumers can borrow, toward 0 percent.
Denominations and different currencies blockchain credit history become background features. It is a store of value. More recently, financial innovation, blockchain credit history bank intervention and online P2P networks have sustained reasonably high levels of access to credit. Hope your project meets with success. Unlike the last two ages, credit of the future will be personal, predictive, self-correcting and universal.
Biometric identifiers like fingerprints will be all you need to make a purchase. It is fungible across many uses. I believe people are happiest when they have access to the things they need or want. Blockchain credit history debt systems often answered by formalizing rules such as debtors going into slavery or forfeiting their daughters.