Advantages of Block66 project
Hello everybody! In order to simplify the lending process and import the whole operation on the blockchain base, designers created block66. Today we’re going to sort out a giant number of its advantages.
What is block66?
Block66 is a platform, which was created by an experienced team with members from different spheres. The main aim of the service is to simplify the mortgage lending process. According to what designers say, the functional of the project is going to be huge enough to not only work with mortgage loans but to make other financial operations. Everything is going to be implemented step-by-step.
Project’s advantages
The process of mortgage service, held on a blockchain platform gives a lot of benefits to brokers:
- Permanent audit history. Brokers must check the information about customers by special audit trail and make sure that all the documents presented by customers are valid. It’s pretty hard to do, there’s always room for falsification. Let’s say it’s trust process. But there’s not going to be falsification when using blockchain. As the technology is absolutely crystal clear and based on the control of the documents, brokers will always know who they deal with. This feature is going to become a solution when it comes to underhanded lendees, and fair people will finally be able to rely on getting loans.
- Simplifying of trans-border lending. People from other countries who want to get a loan, long time search for brokers to co-operate. Using the blockchain technology, this problem is solved, cause the borders don’t matter anymore. Taking into account that almost 40% of all transaction cross the border, why not do this with lending too? Here comes the blockchain again. The decentralized system of the service let brokers give loans to everybody who suit requirements. Any families can now move to a new house and pay online for it.
3. Improved system of tracking resources. Nowadays almost everybody has a smart phone. That’s why tracking transactions system is quite convenient. For sure it’s possible to track transactions, but how about debt recovery? Blockchain has a simple solution. The platform was designated for sites solving digital money problems. It’s a perfect tool for lenders. The platform lets you easily track the transactions. The similar possibility, by the way, can turn lending into a tool, attracting investors’ attention. If the number of people giving loans gets higher, the number of loans gets higher too, and this in its turn going to provide people loans even if they’re not allowed to get it in usual banks for the reason of low income.
The project is going to look like this.
Conclusion
I think the possibility of blockchain implementation into a lending sphere is the next step. Visibility will provide the platform all the information it needs as for customer who’s going to know everything about the bank, as for broker. The latter will be sure about the customer and his intentions. No cheating from both sides, which is the unique feature of the platform. Plus, blockchain is a platform for dealing with digital money, that’s why its implementation into lending sphere is a great idea. People who are not aware of lending process can easily get a specialist’s advice, or learn about it with the help of block66. In my opinion, the lending process will surely switch to blockchain, it’s just a matter of time.
Official links to the Block66 project:
Website: https://block66.io/
Whitepaper: https://drive.google.com/file/d/11ZevZaCwYSG_0iv8On810w3Sjj2E5FLq/view
Twitter: https://twitter.com/block66_io
Facebook: https://www.facebook.com/Block66Official
Bitcointalk: https://bitcointalk.org/index.php?topic=4511083
Telegram: https://t.me/block66_Official
Author of the article:
Telegram: https://t.me/Maater
Bounty0x username: cashflowcarp