A new blockchain-based anti-fraud and identity verification system is being built by Spring Labs in cooperation with major online lenders; the Equifax hack has highlighted the urgent need for a decentralized approach where all lenders keep the personally identifying data of their customers on their own servers and not in a centralized credit bureau; 16 lenders have signed up to be part of this system including many of the big names in the industry; Lend Academy runs through an example to demonstrate exactly how this will work in practice. Source.