Is your dream car calling but you need some moolah to afford it? Fear not. BMW’s financial services group has partnered with a blockchain startup, Bloom, to create a way an easier way to check your credit and streamline financing.
According to the companies, Bloom’s blockchain-based mobile app will allow individuals to secure their data on their local device and apply for credit to buy that beemer without putting that data at risk.
Ian Smith, CEO of BMW Group Financial Services USA, said BMW is “looking to examine any and all methods of how blockchain ledgers could support the transformation of current data warehousing, payment and customer information tracking. Ultimately, our goal is to enable BMW to automate a lot of processing and increase the tracking and security of information.” Read more here.