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.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 Block66broker 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. 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.
Attention. There is a risk that unverified members are not actually members of the team
Positives Team Experience: Block 66’s team is known for their experience and developments within the FinTech industry. With over 20+ years experience and a strong vision, there is a high chance this team will bring the project to completion. Mortgage Protection: Block 66 aims to give legal assistance through various geographies. It does this to protect the users from borrower defaults through multiple partnerships. Lender Incentives: Apart from the U.S and Canada during the mid-term, Block 66 lenders will have exposure to modern markets, this includes emerging economies. Negatives MVP: While Block 66 is a good project idea, it still doesn’t have an MVP product. Seeing a physical version of how this ICO project would work will increase its credibility amongst other investors.
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