Blockchain Technology Secures Transaction Records for Consumer Credit Platform
New consumer credit platform Upgrade, Inc. has announced the launch of a new consumer credit platform that combines a marketplace lending approach with tools that help consumers understand and monitor their credit. The company has incorporated blockchain technology to build risk management, servicing operations, compliance management system and internal controls. It will use blockchain protocol to enhance data integrity by creating time-stamped, immutable transaction records.
Renaud Laplanche, Upgrade co-founder and Chief Executive Officer, commented: “We are excited to introduce innovations that help consumers better understand their credit potential, unlock that potential and obtain more affordable credit,”