As FinTech specialists we work with a number of challenging P2P lending platforms and often a key element of the security we look to surround is the authentication and lending decision based on the lending process itself, what is the best way to prove a borrowers identity digitally?
Amongst regulation, KYC and other constraints it can be difficult to lend finance at all.
As blockchain steadily takes a firmer grip across the financial industry lenders should look to harnessing blockchain for the purpose of identity verification.
hen it comes to blockchain, lenders need to stop thinking about smart contracts and start thinking about identity, according to industry experts.