[theseatoms]

You're right about the way these things currently work. But you'll still be able to volunteer information about yourself in pursuit of a loan. Exactly who will validate that information is another question. (Dare I suggest a distributed credit ledger? :) )

There are quite a few startups in the lending space. But most I've encountered rely pretty heavily on existing, underlying infrastructure, i.e. legacy finance.

[closeparen]

A Blockchain is much worse than a credit reporting agency. Instead of one entity having your records, everyone does!

[theseatoms]

Yes. Storing financial records themselves on the blockchain would be pure insanity.

But I’m imagining a distributed reputation rating scheme. There’d have to be some PageRank-analogous feature (I think that’s how PageRank works), so that a high rating from an entity with a high rating is worth more.

Still plenty of issues to remedy... spam, sock puppets, etc. But I’d bet that a distributed credit rating system could be built.