Well, in that easy case yes, of course no need of complexity. It is just an example.

You can think of some high professional at his 40 with wife, 2 kids and so on. Will he repay? It depends... And we can tell what it depends from

Well, let me explain it to you on example:

1. You are brand new customer
2. You send us request for a loan at Friday at 2pm.
3. In your request you gave us your personal info, job info, your income description
4. Of course we check you in all regular registers: we check if document you provide is correct, if you are working there and how long it is you work there, what were you loans and how did you pay them. Anyway, everything regular.

5. Now we collect another data, available on you, lets start from facebook:

We already now you are 19. From your application. People in that age are not very reliable borrowers.
We check your posts and see that each night at Friday you get drunk.

So obviously - you are trying to get money to get drunk today. Probably you will be refused.

BUT it wouldn't be all

Based on your education, finished or continuous, your friends, relatives and so on we can make one more step:

What if we give you a loan today? There chances you will not repay it on time. Ok, but will you repay it at all? Maybe you are likely to understand in your 25, that credit score is important and you will repay that old loan? Well, we can predict that things and based on that - predict how much money we will loose or win. We can loose loan amount, on the other hand we can win - interests for all this time, fine, collectors fee and so on.

And all this will be done automatically in short time. Manager will only have to make final check

It is really hard to explain the whole idea in short post.

There is really huge amount of data that we collect, process and keep. We have to be sure in certain points:

1. we will not loose data because of server/network failure. Regular backup, distributed and redundant storage, regular software updates goes here. Actually it is common for all IT companies.

2. data is up to date and if it was altered it happened it was made correctly: no hack happened, no dishonest employee and so on.

3. data access control

So for paragraph 2 and 3 blockchain will be used.

No one will be able to access data without permission based on private/public keys on blockchain. Update of private/public keys to blockchain is also subject to control. Data will never leave the storage unencrypted. Remember how it is in google, that their local network is not using ssl?

Logging - every access to and action with data will be logged on blockchain. So, before get access to data you have to get your public key in blockchain and server has to accept it. Here we control how many keys there are, when and how they are issued, if they changes were old ones revoked correctly. If the key is new how it was created?

Now, if you get through this and you have new key you have to setup the corresponding access level to yourself. Which is also subject to blockchain.

When you access data, each step will be logged in blockchain, so no wiping logs can happened.

Each version of document has hash stored on blockchain, so we know which version should be restored if the problem occurs.

The main idea is not to store documents any where. The main idea is to keep it all and keep it unchanged.

Let's say some one took a loan, paid it back with huge delay and big fine. Now he would like to take new loan.

As for now, this info is stored anyway, but theoretically it can be corrected: by inside personal or outside hacker or whatever. Yes, it happens rare, but it can happen. And theoretically you can wipe the traces of this change.

With keeping dates, hashes and access data on blockchain it can happened too, but you will not be able to wipe traces. And the original info will still remain.
 

Another security options is blockchain Certificates. To access corporate infrastructure you will have to create secure connection to it with your own keys.

This keys will correspond with current user access level will also be stored on blockchain.

There will be no CA to hack to get access and again, unauthorized change will be easy to detect.

So after all, not that much transactions will be needed.

Another security options is blockchain Certificates. To access corporate infrastructure you will have to create secure connection to it with your own keys.

This keys will correspond with current user access level will also be stored on blockchain.

There will be no CA to hack to get access and again, unauthorized change will be easy to detect.

So after all, not that much transactions will be needed.

And one more thing - emercoin cost per transaction is 0.01 EMC which is  relatively low,  but if you have millon transactions? And as the exchange rate is floating - how would they manage to maintain cost of work?