I bring to your attention an innovative project in the sphere of mortgage lending - decentralized platform Viva Network, aimed at destroying the global mortgage industry, by introducing a faster, cheaper and more transparent way of buying a home, enabling buyers and sellers to set their own conditions.
Viva became the initiator of its own technology for financing mortgage loans. Using smart contracts, the Viva loan system connects borrowers who need mortgages directly to private creditors from anywhere in the world, eliminating the need to rely on banks to obtain mortgages.
Viva is going to apply special contracts of the Ethereum network, which will provide securitization of private mortgage loans in Fractionalized Mortgage Shares (FMS). Then they can be easily purchased or sold in the Viva FMS Exchange application.
Viva technology will increase the availability of loans for borrowers and for the first time allow non-institutional investors to participate in successive returns secured by assets related to mortgage investments - a product that is traditionally reserved exclusively for large financial institutions.
In addition, allowing the free market to dictate the risk and the corresponding value of each mortgage - unlike a bank - you can expect a fairer estimate of mortgage loans.
The Viva platform will be used in both developed and developing countries, thus allowing the world to make a big step towards the equality of geographical wealth - by breaking down barriers and improving the conditions for both sides.
Any person from any country of the world will have access to mortgage lending through a decentralized network of the open market on the Viva platform.
In addition, the function of Viva as an investment and savings platform, available only through a mobile phone, means that all Viva users will have access to mortgages, savings and investment accounts and standard secured transaction services with blocking-fixing - regardless of whether which country they live in.
Problems and solutions
When we talk about blocking technologies and projects that use it to solve certain problems, we often hear about how intellectual contracts can eliminate intermediaries in the processes of interaction between different parties. The Viva Network platform is no exception.
Various intermediaries, such as banks or other financial institutions, in the process of any lending, including mortgages, are becoming a big problem for many borrowers who want to buy housing on credit.
Any intermediary entails additional fees, which are reflected in the interest rate. In this regard, many of the borrowers can not afford to buy housing on credit, because later they will have to pay high interest. Another, no less important problem is the difference in interest rates in different banks, especially in different countries.
So, for example, to borrow housing on credit in Bermuda, a client must pay a loan with an interest rate of 6% - 20 years. And if the same client wants to buy real estate at the same price in the UK, the British bank will require only 2%. By the way, it was with this situation that one of the Viva Network team members collided. This was the basis for the idea of creating a platform.
The mortgage market is one of the largest in the world and has about 31 trillion dollars. But most of the participants in this market are not in the best credit terms. That's why the creators of Viva Network and offer their solutions to current problems in this area.
With the help of smart contracts, the Viva Network platform provides direct interaction between borrowers and creditors, thereby excluding the participation of third parties in the process of mortgage lending, therefore, reducing interest rates.
On the platform, interest rates and all other loan terms are discussed by the parties in advance, when the buyer publishes information about the collection of funds for financing a mortgage loan. In this regard, all parties are in the most favorable position.
At the same time, buyers of real estate and investors who finance a mortgage loan can be calm, because the fulfillment of all obligations is controlled by smart contracts, a credit rating system and verification procedures.
Advantages
The Viva Network project has become an interesting solution with certain advantages in case of its implementation:
-Technology will be used that have managed to show themselves on the positive side due to their features and modern approach to the organization of the process.
-Mortgage loans will be financed in a decentralized manner and without any obstacles, which will no longer require the use of intermediaries in the form of banks and other financial institutions.
-The project assumes the formation within its framework of a free mortgage market so that housing becomes more affordable, and transactions are much more effective than at the moment.
-Each participant increases the percentage of profit by increasing his profits and simplifying transactions.
Features of the process of buying or borrowing
The user will undergo several simple steps during the use of the project. First, he chooses a property that he intends to buy. Next, he visits the VIVA platform to find an investor there ready to give him a mortgage.
In the case when the borrower and the investor find mutual understanding and the described all conditions are suitable for them, then the investor will transfer the money to this platform, and then the system will transfer them to the interested person. Smart contracts and blocking technology ensure honesty and absolute transparency of all these operations.
Monthly, the borrower will repay the loan, which is provided by the investor in the traditional currency. The system will automatically send them to the investor, regardless of where in the world it is located. Thus, the need to involve in the process of any third parties in the form of financial institutions is completely excluded.
Why should I support the ICO Viva Network?
The Bermuda start-up is entering an incredibly lucrative sector of mortgage loans. Its goal is not to confine itself to the markets of several countries, but to attract international capital, link borrowers and investors from different parts of the world.
The sources of credit are almost unlimited. This business model (if we talk about its classical embodiment) repeatedly confirmed its profitability.
The idea of the platform appeared in the heads of Viva Network in the middle of 2016, and a year later they established the company. Development goes quickly.
Token and ICO
Token: VIVA
Platform: Ethereum
ICO time: 20/7/2018-23/9/2018
Price: 1 ETH = 35,714 VIVA
Accepted Payment: ETH
Hard cap: 68,770 ETH
Roadmap
The very idea of creating such a project appeared in May 2016. Throughout 2017 there were developments in the field of blockades, the architecture of the project was planned, and a unique algorithm for estimating the real value was developed. For the 1 st quarter of 2018 ICO is planned.
All necessary licenses will be received in the 3rd quarter. The launch of an almost ready-made application is planned for Q4 2018. The first version of the platform will be launched in Q1 2019. In the second quarter, there will be a fully operational platform with the possibility of further entry of investors and borrowers.
Team
All the team members have a good experience behind their shoulders, I think this can be no doubt because they did a great and difficult job in a short time. Their main goal is to make a revolution in the sphere of mortgage lending and will facilitate this procedure many times.
Conclusion
Viva is a promising project for mortgage lending, which will reverse the general idea of buying real estate and investments. The project opens a lot of opportunities for both investors and ordinary buyers of real estate, and for this reason, I can call it as special and attractive.
For more information please visit links below
Website: https://www.vivanetwork.org
Whitepaper: https://www.vivanetwork.org/public/lib/whitepaper.pdf
Bitcointalk ANN: https://bitcointalk.org/index.php?topic=3430485
Telegram: http://t.me/Wearethevivanetwork
Medium: https://medium.com/@VivaNetwork
Facebook: https://www.facebook.com/VivaNetworkOfficial
Twitter: https://twitter.com/TheVivaNetwork
Github: https://github.com/viva-network
Author: anelka( Bitcointalk link: https://bitcointalk.org/index.php?action=profile;u=2273527 )
Good article ! subscribed to you and I hope for a mutual subscription
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