Blockchain Has Potential to Solve Credit Bureau Security Issues

With the recent hack of Equifax still top of mind for regulators and consumers alike, there are individuals beginning to explore potential solutions including blockchain technology; Bloom and Open Identity Exchange are working on protocols and standards that could be used by any entity to create an ID system on the blockchain; having such a system would allow for more security from hackers and help to verify individuals; while there are current limitations to the technology there are many groups looking to solve these issues and a potential government led initiative could speed up development. Source.

  • Todd Anderson

    Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.

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