What is 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.
Block66 infrastructure will be implemented as a decentralized application (dApp), and run on the Ethereum network. Brokers will be able to list clients as lending opportunities on the platform, after being thoroughly vetted by Block66 through proof of residence, credit reports, license verification, and criminal record checks. Proprietary software, as well as a network of partners, will be used for this purpose. Based on a personal risk/reward ratio, lenders can then select an investment from the offered mortgages to add to their portfolio.
Block66 Network fees are payable exclusively in BNET tokens. Example of fees include: borrower application submission fee payable by the broker (to cover the cost of third-party KYC, credit checks, appraisal, pest report etc.), unlocking the loan provided by the lender, modifying (eg splitting or merging with other assets) the Proof of Loan token (PoL), or retrieving ETH-denominated loan repayments from the PoL smart contract. The Block66 Team will set network fees, modelling them based on factors such as competitive analysis, third-party services costs (e.g. credit rating and appraisal providers), and operating expenses.
Project Team:
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 span borders, connecting private and institutional lenders with borrowers worldwide. All mortgages will be issued and managed on the blockchain.
Token Details:
B66 is a limited supply token that when stored in a special smart contract generates the network’s native token - BNET, that is then sold via the platform to network users (i.e mortgage brokers). The revenues generated by the sale are distributed to BNET holders.
Token B66
PreICO Price 1 B66 = 0.10 USD
Price 1 B66 = 0.15 USD
Platform Ethereum
Accepting ETH
Soft cap 3,000,000 USD
Hard cap 20,750,000 USD
Country Singapore
Whitelist/KYC KYC
Restricted areas USA, Canada, China, Iran, North Korea
Verdict:
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.
Important links:-
Website: https://block66.io
Whitepaper: https://drive.google.com/file/d/11ZevZaCwYSG_0iv8On810w3Sjj2E5FLq/view?usp=sharing
Telegram Group: https://t.me/block66_Official
Twitter: https://twitter.com/Block66_io
Facebook: https://www.facebook.com/Block66Official
Bounty: https://beta.bounty0x.io/hosts/Block66
ETH: 0xCc538c6335203Cd2e771F27d12F4c90695366407
BTT: https://bitcointalk.org/index.php?action=profile;u=1495664
