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December 08, 2017  

Loan Tracker Teams Up With IBM

Global Debt Registry has been admitted to an IBM mentoring program for developers of blockchain applications.

The New York firm’s acceptance by the IBM Blockchain Founder Accelerator is expected to become official in January. The focus of the arrangement: creating an asset registry for use by originators and buyers of marketplace-originated personal loans, along with warehouse lenders

Global Debt Registry already has been talking to some of those players. The operation eventually could expand into other asset types, while helping to advance the creation of blockchain-enabled securitizations.

The IBM program is positioned as something of a “proof-of-concept” undertaking intended to create a base of clients for its own blockchain tools. For now, it plans to reference loans only by unique identification numbers assigned to them, so as to avoid sharing of borrowers’ personal information.

Blockchain technology — initially developed to facilitate trading of bitcoin — organizes data into sequential “blocks” with unique identification numbers that are “chained” together securely. It eventually could be used throughout the lending and securitization process, resulting in reduced costs and greater access to information. But it could be years before that happens with regularity.