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In a patent application released Thursday, the bank outlines a distributed platform that would use more data sources than traditional agencies while creating an immutable record to generate borrowers' credit ratings. The hope is that consumers will have greater visibility into how these scores are calculated.
"In another aspect there is provided a system for credit and digital identity records with a distributed ledger of a plurality of nodes, each node including at least a computing device, and the distributed ledger having a plurality of blocks, each block comprising identification data linked to a set of identifiers for an individual, transaction data, a timestamp indicating when the block was created, and a hash reference for the distributed ledger."
https://www.coindesk.com/royal-bank-of-canada-credit-scores-blockchain-patent-application/
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