Credit Scores - Goodbye to Equifax and FICO? - Bloom.co

Exciting season 4 finale. We paint the picture of credit scoring and talk about a world where everyone, including the unbanked, can participate in a global credit scoring system.

October 3, 2018

Hosts
C. Edward Kelso & Matt Aaron

Listen here or on your favorite platform

About the Episode

The current state of credit scores worldwide is miserable.

In each country, the system is flawed and subjective in how you are evaluated.

Move to a new country? You have to start over. No credit card? you may not have credit in the United States. Not registered to vote? This will hurt your score in the U.K.

Then there is the lack of privacy. Centralized agencies like Equifax cannot keep your info safe.

So we discuss how blockchain could fundamentally change it. And a group of bright, young minds is working on just that at Bloom..

Timestamps:
3:05 -The current credit score structure in the United States
6:00 - Access to the financial system
7:28 - Centralized data interpretation across the world
9:04 - The Equifax hack
11:32 - Hypocrisy in the current financial system
14:22 - Blockchain disrpuption / free market competition
15:49 - Examples of credit score limitations
17:21 - Can Bloom take down the powers that be?

About the Hosts

C. Edward Kelso

C. Edward Kelso has written hundreds of articles as a journalist covering a range of topics from international finance, regulation, to cryptocurrency philosophy, interviews with luminaries, and book reviews. He is a longtime journalist focusing on financial technology, with a particular emphasis on global political structures and their influence.

Being based in San Diego, California USA allows him to experience binational economic arrangements (Mexico and the United States mostly) alongside a local hub of technology sector businesses -- from genomics to mobile phones.

Matt Aaron

Matt Aaron has been podcasting since 2013, when he launched the Food Startups Podcast.

He recently found a second love in cryptocurrency and blockchain and hasn't looked back.

His first major investment into cryptocurrency was the money he made betting on (but not voting for) that Donald Trump would win the 2016 election.

Matt believes that public blockchains and cryptocurrencies are the solution to the many problems exposed of the current banking system in the 2008 financial crisis.

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