Block66 - Better Mortgages Powered by Blockchain Technology

The Blockchain is a rapidly growing technology that is engulfing every possible business domain. Therefore, many reports published have predicted a huge rise in the Blockchain market. According to reports, the Blockchain market is expected to extend to over 20 billion dollars by 2024. It is counted in one of the most promising new technologies that are hoped to change the future of businesses and the internet.
Basically the rise of cryptocurrency and subsequent attention brought to blockchain technology has prompted nearly every industry to evaluate the benefits of integrating the technology into their operations. One such firm at the forefront of blockchain innovation is BLOCK66

You may be contemplating on the crypto coin that will be best for your investment. You might have even found yourself investing in one of these Cryptos but you did not gain your profit as you expected because, some developers, after hitting their target and making a huge sum of money, dropped the project, and left investors in the middle of no where. All hopes are not gone. Lets start a new page in you new or next journey to investment for profitable earnings. I will be introducing you to One firm at the forefront of this innovation is BLOCK66 which is developing a new breed of mortgage lending platform that leverages blockchain technology to increase transparency and streamline the deployment of capital.

About Block66

Block66 is building a new blockchain-enabled marketplace for mortgages. Institutional and private lenders can use the service to offer loans to a wide range of borrowers, introduced by Block66 broker partners. Through the practical use of smart contracts, loans can be taken from origination to facilitation, quickly and efficiently.

All loans are also represented as tradable tokenized securities, providing a liquidity mechanism as standard. The ability to trade fractions of loans, and reduced order and issuing fees makes investing more inclusive, providing an attractive investment vehicle for all manner of investors. Thanks to the use of cryptocurrency, Block66 eliminates the need for a bank account, overcomes geographical lending restrictions and reduces counterparty risk to mere minutes. For borrowers, the transparent and competitive nature of the marketplace will benefit the consumer and give them confidence that they’re getting near enough the best offer achievable.

MISSION
Block66 is on a mission to shake up the mortgage lending landscape by building the world's first blockchain enabled mortgage lending network. The network will eventually seek to span borders, connecting private and institutional lenders with borrowers worldwide. All mortgages will be issued and managed on the blockchain.

Block66 introduces the first platform where lenders can access a marketplace of vetted borrowers looking for mortgage finance. This marketplace is public, transparent, and highly automated, so lending is streamlined, with lower costs, and lower risks. Each loan is represented as a pool of ‘’’’proof of loan”” (PoL) tokens that can be individually resold to investors, providing lenders with liquidity, and empowering a diverse pool of investors.

Block66 offers new opportunities for borrowers and end the time consuming and paper-driven processes in the mortgage industry. The platform will make it easier for everyone to find what they need so mortgages can be approved and funded faster. By storing the history of each transaction on the blockchain, we will provide a valuable audit trail for lenders, which will help mitigate mortgage fraud.”

The Mortgage Industry is Ripe For Disruption

Mortgages are now a rich persons’ product, the technology in the market is archaic, and many creditworthy people have been left high and dry by risk-averse institutions. By harnessing the power of blockchain technology, Block66 lowers barriers to entry for small-flexible lenders, streamlines origination, and creates new opportunities for borrowers.

PROBLEM

The Reverse Mortgage Market Problems in USA

The mortgage market in the USA is $9.9 trillion dollars, $32.9 trillion worldwide, and growing but risk averse institutions are reluctant to lend to many creditworthy consumers. Willing small lenders struggle to enter the space at scale. Existing processes and technology are cumbersome and siloed, compounding the problem for borrowers.

SOLUTIONS

The Block66 platform will introduce operational efficiencies and automate wherever possible to streamline the mortgage application and facilitation process. Block66 are known to be believers in technology, some lending cases are best given to human agents. For dealing with these cases, Block66 has been designed to pull together virtual underwriters who will help with the validation of documents. By combining the power of automation with the use of human underwriters where necessary, Block66 aims to offer best-in-class user experience for all parties on the platform.

Brokers Can Use Blockchain to Serve Mortgages

Blockchain allows brokers three distinct advantages in the mortgage servicing process:

Immutable Audit Trail

Blockchain technology creates an immutable audit trail for brokers to follow as they verify applicant information and documents. Brokers no longer have to hope that an applicant submitted honest information: blockchain creates a trustless process, tracking documents to ensure that no one modifies them after submission.

Easier Cross-Border Lending

Some borrowers outside the country who wish to buy a home struggle to find brokers who will work with them. On the blockchain, though, international borders present far fewer challenges.

Improved Payment Tracking

In the age of smartphones, mortgage payment tracking stands out as an outdated relic. The payment processor might know when payments are late, but identifying habitually late payers and creating action plans to prevent sunk costs remains a tall task.
Blockchain technology is taking the rest of the world by storm, and it’s time the mortgage industry caught up. Borrowers with good credit and cash to spend are waiting for banks to accept their patronage. And blockchain provides the tools brokers need to bridge the gap between would-be borrowers and the people who fund their loans.

TOKEN AND ICO DETAILS

Symbol: B66
Token Type: ERC20
Token Hard-Cap: $20.75m
Max potential supply: 300,500,000Token
Pre-sale date: 6th September 2018
Token sale:155,000,000Token
Token price:$0.15 USD
Pre-sale price:$0.10 USD (first 50m tokens)

Block66 are excited to announce the our official pre-sale date, September 6, 2018!
We are offering a 5% bonus to those who sign up to our white list ahead of the token generation event: http://bit.ly/Block66WhitelistOur
pre-sale will offer B66 buyers a 33% bonus ($0.10 per B66) relative to the full token sale price ($0.15 per B66)

ROADMAP