In this clip from the Texas Real Estate and Finance podcast, hosted by Mike Mills. In this episode, our speaker, Eric Lapin, dives into the fascinating topic of individuals having ownership and control over their credit data.
Eric explores the potential advantages of utilizing personal blockchain technology to securely store and share personal financial information with lenders, ultimately eliminating the need for traditional credit bureaus.
Additionally, he delves into the concept of virtual credit and how artificial intelligence and linguistics can be leveraged to assess an individual's ability to pay based on their financial history and behavior.
To empower consumers and provide them with more control over their data and credit decisions, the speakers propose the tokenization of personal data into medallions that can be shared with lenders for loan approvals.
If you're intrigued by these innovative ideas and want to learn more, we encourage you to listen to the full episode and download it now. Don't miss out on this thought-provoking discussion on the future of credit data ownership and control.
Individuals owning and presenting their own credit data to lenders
Benefits of personal transactions, payment history, and assets on a personal blockchain
Empowering consumers with their data and creating virtual credit
Moving from a web 2.0 world to an open protocol for data control
Use of artificial intelligence and linguistics to assess ability to pay
Tokenizing personal data into medallions for loan approvals
Eliminating the need for traditional credit bureaus
Securely storing and sharing personal financial information
Assessing financial history and behavior for credit decisions
Providing consumers with more control over their data and credit decisions
