Viva: Blockchain into Mortgage Industry
The human beings have three basic requirements in our lives - food, clothing and shelter. Among these three, shelter is a place which we all seek at the end of day to relax and rejuvenate ourselves and have some quality time with our loved ones. Nowadays, mostly people rely upon mortgage loans from financial institutions to fulfill their dream of their own sweet home. Mostly people tend to select a place to build their homes and then head to the banks to avail the loans. But the process is not very simple. In Fact, the things are quite complicated on the ground level. The banks have an upper hand over these people as they are the ones who decide the interest rate and other conditions. In addition to this, a lot of paperwork becomes a headache for the majority. All these processes are very time consuming.These difficulties faced by the individuals become an obstacle in availing a home loan from traditional financial institutions.
The Solution
The problems faced by the people in availing a mortgage loan are needed to be solved in order to make people's dream of a sweet home come true. Viva aims to provide a workable solution to this problem. They aim to launch a decentralised ecosystem backed up with blockchain technology and smart contracts feature providing a direct connecting link between mortgage borrowers and global investors. The platform will make use of Ethereum smart contracts to underwrite ande scrutinize mortgage loans into Fractionalized Mortgage shares (FMS). These shares can be sold and bought on FMS exchange platform. The facility of Fractionalized Mortgage Shares (FMS) on the Viva platform let the investors from across the globe to crowdfund the home loans for the borrower. This will lead to more efficiency. The disparity among different nation banks’ interest rates will be resolved now. The individuals will be able to come on a single global platform and capitalize their money there and earn better investments in return. Borrowers will also be able to avail mortgage loans on a lower interest rate.
Vision
Viva believes that the most efficient solution for the issue of global economic wealth disparity is the development and advancement of technology. The Blockchain technology holds an enormous potential for the upcoming future. Viva has utilized this potential to bring a positive change in the mortgage industry. It aims to decentralise the mortgage framework and eliminate the role of middlemen by providing a direct link between borrowers and global lenders.
Viva Token Sale
Viva platform is empowered by its own cryptocurrency named VIVA Tokens. A VIVA token is an Ethereum based ERC-20 compliant type utility token. These tokens will serve as network's currency. The total supply of these tokens is limited to 4 Billion VIVA. The ICO period started on 1st April 2018 and is expected to end on 14th August 2018.
VIVA Team
The team guiding the development of VIVA is a team if experts. Nick Thomson is the
Chief Executive Officer of Viva.Benjamin Erichsen,Christian Fiddick,Tarek Waked,David Erichsen,Katherine Masters and many more notable names are assisting and guiding the framework of Viva.
Conclusion
The idea behind Viva is a revolutionary one which aims to change the traditional mortgage sector. They intend to utilize the potential of Blockchain Technology to bring a fairer place for home loan buyers. This will lead to transparency and reliability in this sector. The venture is in its ICO period now. We can expect the working model in the recent years.
For more details visit
Website: http://www.vivanetwork.org/
Whitepaper: http://www.vivanetwork.org/pdf/whitepaper.pdf
Published By: karanj
Btalk Profile: https://bitcointalk.org/index.php?action=profile;u=1030341