We’re always excited to hear about projects using the Gitcoin platform to deliver on their objectives. So when we had the opportunity to chat with the team at Bloom, the world’s largest decentralized identity solution, we were eager to get the inside scoop. Today, we’re thrilled to share what we’ve learned about Bloom’s experience using Gitcoin!
As DApps operating in the Ethereum ecosystem, both Gitcoin and Bloom are stakeholders in the blockchain community. And with a mission to grow open source, Gitcoin’s objectives are well aligned with the Bloom platform. Our continued collaboration has the benefit of generating open source development while also supporting the decentralized movement.
“Gitcoin has been a tremendous resource with a shared mission of supporting and growing the open source community. Through Gitcoin, we’ve been able to benefit from an amazing contribution network of developers, who have provided immense value to Bloom. We’re proud to work with a team that empowers developers to take control of their earning potential,” shares Shannon Wu, Bloom founding team member.
What is Bloom?
From the docs, here’s a little more about Bloom:
Bloom is a blockchain solution for secure identity and credit scoring. Bloom gives consumers ownership over their identity and financial data. By decentralizing the way that information is shared between untrusted parties, the system reduces risk of identity theft and minimizes costs associated with customer onboarding, compliance and fraud prevention.
Bloom’s Decentralized Mission
Bloom is building modern global credit infrastructure which will be more secure, transparent and equitable for all. Bloom offers solutions to cross-border credit scoring and identity fraud, while at the same time expanding credit globally to new individuals and improving scoring methodology. In delivering on these objectives, Bloom maintains specific conditions:
- Secure: Through a system of network attestations, you can prove that your personal information is verified without exposing underlying data.
- Own Your Data: You choose what data to include in your BloomID. You determine exactly how it’s used.
- Beyond Borders: Verify your identity and access dApp services from anywhere in the world.
The Bloom Protocol
The Bloom Protocol provides solutions allowing any lender authorized by a borrower to safely and securely issue credit to that borrower.
From the Bloom White Paper, the three main components of the Bloom Protocol are:
- Bloom ID: BloomID lets users establish a global, federated identity with independent third parties who publicly vouch for their identity information and legal status.
- Bloom Score: BloomScore is a dynamic and inclusive indicator of an individual’s likelihood to pay debts that adapts to the maturity of a user’s credit history
- Bloom IQ: BloomIQ is a system for reporting and tracking current and historical debt obligations that are tied to a user’s BloomID.
We’re excited about each part of the Bloom system, and many developers from the Gitcoin community have been, as well.
How Bloom Is Using Gitcoin
As Bloom continues to make it easier for users to own their personal information, Gitcoin is making it easier for developers to take control of their earning potential. Both platforms aim to empower individuals. Bloom chose to use Gitcoin due to a close alignment of values:
- Building a Developer Community: Bloom recognizes the value open source developers bring to its project and wish to support the ecosystem. Gitcoin aims to support the open source ecosystem by providing opportunities to talented coders.
- Promoting Data Security & Privacy: Bloom is dedicated to the protection of personal data. Gitcoin inherently supports data security and privacy by providing a platform where projects can expose and correct vulnerabilities.
- Building Apps on the Ethereum Protocol: Both Gitcoin and Bloom are dedicated to building DApps that foster empowerment on the Ethereum blockchain.
- Market Exposure: By issuing bounties on the Gitcoin platform, the Bloom project gains valuable market exposure amongst developers and other community stakeholders.
The Results of Past Bounties
Bloom has seen a great deal of success using the Gitcoin platform and we’re encouraged by their positive feedback.
First Round: Documentation Bounties + Bug Bounties
During this documentation heavy first round, almost all of Bloom’s bounties were fulfilled. Bonus: one of our talented Gitcoiners also exposed a clear security bug and received an additional 5 ETH!
Second Round: Porting ShareKit to Other Languages
The Future of Bloom + Gitcoin’s Partnership
Expect a third round of Bloom bounties soon, and potential involvement in some of the have planned
- Check out the Bloom Framework on Github 🛠
- Check out the Gitcoin Explorer for Bloom bounties ⚡️
- Integrate BloomID into your app, and claim 250 DAI 💰
As we build our projects open source, we look forward to building with Bloom and many others towards a decentralized future.
To learn more about Gitcoin, click below. We welcome you on our journey to grow open source while changing the way we work.