Block66: new-generation mortgage lending on the blockchain

Famous crypto experts from the US and Canada offer innovative project Block66, which is devoted to mortgage lending. They are sure that the integration of artificial intelligence with a decentralized credit system will improve the economy, because with the help of a cryptocurrency, it will be easier and faster to issue loans and, most importantly, this process will be accessible to everyone.

The project was developed by experienced programmers: J. Markham, J. Tuckett, V. Karangutkar, R. Sanger, and many others. The team also includes well-known advisors: P. Moretti, S. Lavine, D. Wolf, M. Herlihy, and others.

Features and main tasks

Block66 is a unique platform, built on a blockchain, where it will be possible to deal with mortgage lending. As you know, this service is most in demand today. Under mortgage lending is understood as a long-term loan, which is granted to a physical or legal person by a certain bank on bail, which can be a house, land, apartment, or other object.

According to the developers of Block66, the traditional credit system works less efficiently. First and foremost, it is not all people who can take credit. Banking organizations are denied for various reasons:

• there is no official work;
• bad credit history;
• age discrepancy;
• small work experience and others.

In addition, for the approval of a mortgage loan requires a lot of documents, among which documents from the place of work, certificates with personal income tax, and others. Often, banks do not issue large loans without guarantors who, in turn, must also prepare the relevant documents.

Mortgage loans are often denied not only to individuals, but also to businessmen, because of what they cannot fully develop their business. Most banks approve loans only to large companies and corporations.

Can I get a mortgage without many requirements? Is it possible to make it more accessible for everyone, regardless of where the person lives? The developers of Block66 respond positively to all these questions because they already create an innovative and practical solution that will make the process of issuing mortgage loans more affordable, quick, and efficient.

Block66 is a platform on the blockchain technology. It works in the ecosystem of the Ethereum, which guarantees its transparency, security, and accessibility. It functions thanks to smart contracts and has an open source point.

Thanks to the new technology, the new project will:

• simplify the mortgage lending system and bring it to a new level;
• grant loans in all sizes;
• create favorable conditions for the loan;
• make loans anywhere;
• receive loans in any country;
• conduct effective credit scoring.

The system is transparent and fair, thanks to the decentralized work principle. It will not depend on central banks, it will not be affected by exchange rates.

So, due to the scalability of the platform, individuals and legal entities can obtain mortgages on it regardless of where they are located. Brokers will also benefit - they will be able to conduct credit scoring, that is, assess the creditworthiness of consumers, evaluate the cost of facilities, etc. It can be concluded that all parties will benefit.

How will this work?

The development team is actively updating the platform. Their plan is to improve the modern system of mortgage lending with the help of blockchain technologies. Block66 will be a network that includes borrowers (private and institutional) around the world. Thus, the new project will be a unique decentralized credit platform without borders.

Loans will be issued on the blockchain. Thanks to smart contracts, transactions will be performed much faster, however, it does not matter how far the sender and receiver are from each other.

The project token is called B66. With its help, you can interact on the platform, execute, and pay for loans. As in other projects, you can simply be its holder, for which you receive a guaranteed reward. Holders receive income from the sale of tokens.

Advantages and prospects

Based on the above features and principles of the project, its main advantages include:

• decentralization;
• ensuring transparent and fair interaction;
• minimum requirements for registration of a mortgage;
• availability;
• scalability;
• possibility of issuing a loan all over the world;
• system security and high protection against hacking;
• universality;
• clear algorithm of operation;
• simple interface accessible even for the beginner.

The user will be able to work on the platform right after he creates an account. The system will quickly check its data, after which it can perform various actions. On the platform, various banking organizations can be registered: large or small brokers, as well as individuals and legal entities that wish to take out a loan. It will also be possible to become a holder of cryptocurrency in the system.

In the next 1-2 years, developers are planning to finalize the project, namely the wireframe and prototypes and to launch TGE. At the end of this year, the creators intend to seriously engage in the promotion of new items and attract crypto-investors.

A decentralized model of mortgage lending can be considered successful and viable, especially because there are not so many competitors in it. It is known that now not all can receive loans because of the harsh conditions of banking organizations. In addition, often in a loss are small companies. Block66 will improve the mortgage system and make it more efficient.

To learn more about the details of this project, as well as to participate in the purchase of platform tokens, visit the official website https://block66.io/ and read the whitepaper: https://block66.io/themes/b66/assets/Block66_Whitepaper_English-update.pdf

Author Cryptozond: https://bitcointalk.org/index.php?action=profile;u=1190894
ERC-20 wallet: 0xE09319CEB0C8cf2029e27F85E1Bcb1159c63aF8e