Block66 Token

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.

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.

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.

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.

The decentralised Block66 platform leverages blockchain technology. The platform matches borrowers looking for mortgage with lenders, helps reduce mortgage fraud and allows for mortgages to be issued on the blockchain helping to cross borders and support blockchain only property purchases.

An advanced trust subsidize (DTF) guarantees the wellbeing of the hidden credit assention, spoke to carefully as PoL tokens, by going about as caretaker for the advance and gathering reimbursements - including collected intrigue. Strict laws with respect to confides in reserves ensure each home loan even in case of liquidation implying that no gathering, including Block66, the dealer, or any other individual can assert it.

Block66 would like to be a piece of the quickly changing landscape of technology organizations, that because of the amazing advancements in blockchain technology, would now be able to start to plausibly coordinate capital supply with request on the opposite side of the globe. The mortgage loaning industry is one of the remaining critical divisions that has opposed the consistent walk of technology and advancement.

The Block66 infrastructure is decentralized as we all know and built on the decentralized application dApp and runs with the Ethereum network, it is pretty easy for the Block66 platform to keep track of parties involved in the transaction as there will all be registered on the platform including criminal records and proof of residence amongst other things. Based on a personal risk/reward ratio, lenders can then select an investment from the offered mortgages to add to their portfolio. At this point, Block66 will present the broker with explicit, comparable fees, and interest rates with which to advise the borrower.

Token mechanics are clarified in more detail facilitate on. After some time, the Block66 group will hope to make conveyance as expansive as workable for PoL tokens, and the Block66 biological system. To accomplish this the group will join forces with exchange relayers, for example, 0x, and additionally joining forces straightforwardly with exchanges. The group will likewise exploit the TPL convention to help deal with Block66's administrative presentation.

Users of block66 platform both the borrower and the lenders will have an account with cryptocurrency exchange that support and partner with block66. This account will be used for loan repayments by the borrower after the mortgage is issued, and
Will act as a bridge between the conventional fiat banking system and the Ethereum/Block66 ecosystem.

ICO Details.