New Blockchain aims to modernize the mortgage industry
Zventus, a global business provider, has announced its new blockchain initiative called the “Mortgage Blockchain Lab”, with an aim to revolutionize the mortgage industry.
The California-based firm with a vast network across a broad business spectrum, including consultancy, tech support and human resources, is aiming to partner with interested organizations in a blockchain sandbox for developing and testing new products.
Mortgage Blockchain Lab will collate mortgage experts, academic experts and technology firms for collaborating blockchain research focused on the mortgage industries. Early reports suggest that once the products are launched, a 50 per cent reduction of loans for financial institutions will be implemented.
Angel Alban, Zventus president, has shown great enthusiasm for blockchain technology, stating that there is no doubt it can disrupt the mortgage sector. Alban added that as Europe and Asia are taking off in the domain of transparent ledger with no central intermediaries, Zventus is “thrilled” to be leading “a technological revolution” that will potentially transform mortgaging “forever”.
Zventus has expanded in more than 180 countries, providing services in over 220 languages since its inception in 2016. With the Lab initiative, it has outlined that its big ambition is to create 1000 new blockchain jobs by 2024, utilizing Ethereum and Hyperledger.
Alban further added that Zventus is “excited” for the future of the mortgage sector using blockchain technology and has invited clients and partners for collaboration in “reinventing the mortgage sector’s financial services.”