Revolutionizing the internet and advanced technology has brought tremendous development and growth to people, countries and the world at large. People have found a more simple, easier and convenient way of carrying out activities since the invention and development of the internet, every day comes with its own technological innovations which have improved people's lives in no small way. Trade transactions as it is today is one of the innovations that accompanied technology advancements, also financial activities are also part of it. Before reverb times, banks have made a lot of people landlords, by giving them house mortgage services, a lot of people benefited from it, but even at that, it is possible they could have bought it at a cheaper rate. The reason for the high cost of a mortgage is not far-fetched,banks buy houses from individual house owners at the owners price and adding their own share as intermediaries, they come up with a new mortgage, putting the house for sale to prospective buyers,the only good thing is that the borrowers don't have to pay all money instantly but in installments. Despite all of the benefits of the mortgage, it still had its problems, which he invented Viva platform is set out to resolve, by eliminating the need for middlemen and connecting borrowers and sellers directly.
VIVA VISION
Viva believes that the most effective solution for global economic wealth disparity is the advancement of technology. The blockchain is an innovation that has already proved its ability in decentralization and disruption of the world's largest industry.
VIVA MISSION
The mission of the Viva platform is to throw in disarray in the mortgage industry by allowing home buyers and sellers to set the terms of exchange and transaction themselves. This implying that any individual from any country of the world will have access to credit financing for home loans through a decentralized, open market connection on the Viva platform.
ABOUT VIVA
New Blockchain technologies introduced into the financial platform is one that is a transformative financial technology that introduces a globally scalable, peer to peer mortgage financing to the world, while introducing liquidity, diversification, and security to private mortgage investing, for the very first time ever. It determines the interest rate on borrowers by removing the need for middlemen, using the free market format. By removing inefficiencies in local financial systems, mortgage rate will more fairly reflect or show the level of risk associated with the assets true value.
The failure of the banking system in 2008, ushered in the world's first ever cryptocurrency, and from thence, the process of decentralizing the authority and power held by financial conglomerates. Viva intends to seal and complete the job, by leaving the inefficient centuries-old financial system, where it has always belonged: the past. Viva innovative technology uses Ethereum Smart contracts to underwrite and secure private mortgage into fractionalized mortgage systems (FMS) which act as tokenized mortgage bond, this investment is easy to buy and be resold on the Viva FMS exchange application. Making use of mortgage shares ratio, the Viva network investment to crowdfund mortgages at home buyers from anywhere in the world, making the process easier and quicker for home buyers. Being able to control assets in the free market efficiently, both parties will be able to capitalize on international interest rates arbitrage and obtain lower interest rates mortgages and higher returns on investment.
The Viva platform will consist of applications that will be continually evolving, improving and updating to provide solutions to consumers needs and preferences over time. With the advent of a limitless blockchain based cryptocurrencies, Viva believes that mortgage rated should be commanded by the core factors that have to do with the risk profile of a particular investment. Viva establishes a free market, to do best what free markets do: disrupt, improve and evolve.
KEY ROLES OF THE VIVA HUB
- Evaluation of the mortgage applicant creditworthiness
- Appraisal of the home value, ensuring that the underlying assets are worth at least the borrowers state value
- Ensuring adequate mortgage insurance
- Uploading of fractionized mortgage system onto a decentralized Viva network for crowdfunding
- Uploading of the Viva framework
- Coordinates the repossession of assets and redistribution of the recovered principal to FMS holders in event of default.
TOKEN SPECIFICATIONS
Ticker: VIVA
Platform: Ethereum
Token Standard: ERC20
Total Token Supply: 4 billion
Hard Cap: 68,770 ETH
Exchange Rate: 35,714 VIVA = 1 ETH
Accepted: Ethereum (ETH)
SUMMARY
Over the years, financial instituted has devised a means by which people can also own houses without having to pay the total house worth instantly but installmentally, provided his declared asset is proportionate to the price the house is placed for. Though financial institutions, most especially mortgage banks have really helped a lot of house owners own their houses today, it still boils down to the borrowers buying houses at a very high rate, due to the presence of intermediaries. With the invention of the Viva platform, all of these are bound to stop, as it establishes a platform for borrower and house sellers to determine their exchange rates, without the need for any intermediary.
Watch this Video to know more about VIVANETWORK
TEAM
To learn more about this wonderful project, check out the links below:
Website: https://www.vivanetwork.org
Whitepaper: https://www.vivanetwork.org/pdf/whitepaper.pdf
Medium: https://medium.com/@VivaNetwork
Twitter: https://twitter.com/TheVivaNetwork
Telegram: http://t.me/Wearethevivanetwork
Writer: xratedx
bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=2257524