BLOCK66 — Hive

The Mortgage sector is one of the remaining important sectors that has endured a steady shift in technology and innovation. Despite the banking industry's possession, the latest wave of block technology has the potential to cut them off.

The block of Blockchain and clever technology are used to borrow agreed contracts, and the flexibility and liquidity provided by Block66 assets will open the mortgage market to a more diverse investor group. Each loan has its smart deal, responsible for hitting, selling and tracking ownership of ifs tokens. Block66's cleverly intelligent intelligence contracts ensure that the market remains public, transparent, and invulnerable.

Cryptic Value Block66 eliminates the need for a bank account, goes beyond the limits of geographic lending and reduces the counterparty's risk in minutes. For borrowers, transparent and competitive nature of the market will benefit consumers and give them confidence that they are close enough for the best possible supply.

CHALLENGES

Since the financial crisis, traditional mortgage lenders have considerably tightened the lending criteria. To a large extent, this was a fair reaction to over loans. However, the restrictions imposed also have limited lending to borrowers previously served by traditional financial service providers and who were able to repay the mortgage. Since the mortgage loan has been boosted for people who can not meet the standard insurance criteria.

Along with the abolition of mortgage criteria, the nature of work is also changing: fewer borrowers meet the standard insurance criteria due to the nature of their business, and many claims to have difficulty obtaining mortgages because of their nature. the atypical character of their employment.

The non-premium market segment is currently often used by non-traditional lenders, primarily family offices and high net worth, which brokers offer the possibility of lending. In all regions of the world, this market is highly segmented, non-transparent and slow. There are many examples of fraud and misinterpretation of consumers.

In the mortgage market lack transparency, borrowers are forced to trust brokers implicitly and have no possibility of checking the number of lenders represented by their application. In some countries, the market is largely segmented, and hundreds of active lender-based lenders operate in the area, making it virtually impossible to cover an unauthorized broker.

On average, the mortgage application process lasts for several days. An important part of this time is the collection of necessary documents and subsequent exchanges between the borrower and the lender, providing additional information and corresponding to the requirements. This process is very ineffective, stressful for borrowers, and it does not take full advantage of available automation technologies for many manual steps and an optimized workflow.

High fees, capital requirements and the lack of a transparent trading market serve to limit most investors in MBS trading. Institutions and a small percentage of private lenders associated with the ecosystem of mortgage brokers are the only active investors in the area. Significant amounts of capital remain blocked or deployed in other instruments.

RESOLUTION OF CHALLENGES

Block66 is the first platform where lenders can access marketed borrowers seeking mortgage financing. This market is public, transparent and highly automated, so loans are simplified, with lower costs and lower risks.

The Block66 platform will introduce operational efficiency and automate as much as possible to optimize the use of mortgages and the process of facilitation. While Block66 believes in technology, some loan cases are customized and better managed by human agents. To solve these cases, Block66 will gather a network of virtual subscribers who will digitally check the documents. By combining the power of automation with the use of human subscribers, if necessary, Block66 strives to provide the best user experience for all parts of the platform.

Utilizing the existing technology for automatic verification and verification of documents and application data, Block66 can do a lot to protect against fraud. Most mortgage fraud is committed by a borrower or broker, and lenders and insurers do not take them into consideration due to a large number of documents involved and time constraints. Block66 systems will feature controversial articles for virtual subscribers and lenders, which will greatly facilitate the detection of fraud.

All Block66 lenders will advance lending criteria in advance, creating a seamless platform where brokers can send requests. The Block66 platform will be able to browse hundreds of loan offers in order to find the best possible offer for brokers and debtors.

All the mortgages provided by Block66 have been released in blockchain and are also reflected in the physical world through the Digital Trust Fund. Over time, the lenders will be able to market the tokens on the exchange platform that is specifically designed for that purpose in the context of ownership or exchange exchanges developed by the partner. The ability to divide credit agreements into smaller credit fractions reduces the entry barrier to small investors, increases liquidity at home and secures investment in this type of asset for investors. all types of investors.

Block66 wants to become the most sophisticated platform in the world so brokers and lenders will work effectively for the satisfaction of borrowers. All loans will be issued in the blockchain, and the funds will be drawn through the obtained intelligent contract. All documents pertaining to a mortgage transaction will be verified and stored in a chain of blocks that provide unchanging history and authenticity. Storing the hash loan documents secures the full transparency of the lender and the borrower while generating a much clearer time during regulatory control and on-the-spot checks.

Token Block66 (B66)

Token Block66 (B66) is used to produce Block66 network token (BNET). As with B66 owned by Block66, carriers that activate their B66 begin to produce BNET, which can be sold to other platform participants. Platform users require that BNET pay the platform fee, therefore, an active market for those tokens. The price of BNET will be set by Block66.

TEAM

Over time, Team Block66 will try to distribute as widely as possible for chips and the Block66 ecosystem. To do this, the team will be connected to the exchangers, and will also be directly linked to the stock exchanges. The team will also use the protocol to help administer the Block66 regulatory exposure.

Block66 is a modest but important step forward for the mortgage industry. The platform solves problems for different people and organizations, for various reasons. This hopes that through them and community efforts, the mortgage can be open to all types of investors while helping to obtain and facilitate loans worldwide.

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