Digital Identity Platform Bloom Reaches 1 Million Users
SAN FRANCISCO November 21st, 2019: Bloom, a leader in digital identity solutions, is excited to announce that the Bloom mobile app has surpassed 1 million downloads on the App Store and Google Play. This marks a major milestone in its push to build a global, secure identity ecosystem that gives consumers back control of their data.
Decentralized identity is the foundation on which Bloom is building a fair, inclusive, and secure credit scoring system. In the modern environment of data breaches, privacy issues, and surveillance concerns, it’s vital to have a decentralized alternative to centralized providers which give consumers the tools to take back control of their data.
Bloom ID, a global identity verification platform for seamless and secure onboarding of users, Bloom’s identity toolkit enables individuals to transact securely online and facilitates an ecosystem of verified customer data with a network of authoritative data sources, creating a trusted platform for consumers to share verified identity and financial data. Users get greater access to services and credit as the strength of their identity increases. Users can securely verify personal information, such as name, phone number, email address, and social media profiles, as well as financial information, such as utility bill payments, income, assets, and bank statements, with trusted data attesters.
Bloom has seen exponential growth through Q4 2019, driven by consumers’ growing concerns about the massive collection, misuse, and sale of their personal data in the wake of an increasing number of data hacks, breaches, and alarming revelations. Surpassing a million downloads for the Bloom App ensures that Bloom by far, is the largest and easiest to use decentralized identity management system in the world and one of the top onboarders of users into the blockchain ecosystem. In addition, over 40 independent applications have been built on or integrated with Bloom with over 8.5 years of session time have been logged just this year.
In addition to Bloom ID, Bloom released a second product also available on the mobile app called Bloom Radar - a dark web data monitoring service. The free service monitors and scans data breaches for personal information to alert customers in real-time of compromised data. Users can also file data breach settlement claims, find unclaimed money, see what data breaches they are in, share their data securely, and apply for credit in one-click with Bloom
Unlike today’s companies, Bloom has a mission of protecting the public’s data. Bloom Radar empowers consumers to take back control of their data and help reduce the risk of identity theft by alerting them in real-time that information has been exposed, allowing them to take action immediately, as opposed to weeks or months later--such as many current services provided.
By operating in collectively with Bloom ID on the decentralized blockchain, consumer information is more protected from breaches. Data breaches and identity theft are rapidly on the rise. In 2018, over 2.6 billion records were exposed and in 2017, there were over 16.7 million victims of identity fraud, leading to $16.8 billion in financial damages. These records are often sold on the Dark Web, where identity thieves profit from the stolen information. Since its launch, the Company has grown to over 1,000,000 users, announced several major partnerships, and brought over a dozen lenders into the Bloom lending marketplace. Bloom is available on both iOS and Android in the Apple and Google store.
