Technologies have shaped the way we do things. New innovation springs up every now and then and the impact has been significant, as it could awaken dead industry. The blockchain technology is the new wave to decentralization of everything, from the way we use money to the way we carry out our activities online. It is a new way of life that fast affects every sphere of the world and the benefits spread to all corners of the world. Homelend is a blockchain technology that wants to revitalize the mortgage industry by creating a decentralized platform.
What Is Homelend?
Homelend offers a state of the art, highly sophisticated decentralized technology that enables the next generation of mortgage lending industry, in order to make it more efficient, cut off middleman, reduce cost and makes the system customer-centric.
Mortgage Lending Mechanism.
Homelend P2P platform works by embedding mortgage lending business logic into smart contracts. This is the platform’s core functionality. By creating a set of smart contracts that execute business processes, Homelend allows individuals to borrow money from their peers in a trusted, transparent, and secure way. The key idea is that borrowers and lenders are not linked by means of a financial intermediary (i.e. a bank or a centralized P2P lending platform), but rather by smart contracts that automatically execute a pre-defined business logic. Whitepaper
Challenges In The Mortgage Industry
The mortgage industry is rather an old industry that is fading off. The industry faced many challenges in the past and present that discourage many lenders and borrows. The atmosphere is not secured and conducive for lenders and parties, and banks and other agencies. They rely on complex manual processes to seal a deal, and it takes too long to complete a deal. At other times the contracts are ambiguous and clumsy which requires many intermediaries to seal a contract. These intermediaries procure cost, and most often they are unreliable which makes the lender and the borrowers vulnerable. In the need to proffer a solution to the existing challenges, Homelend takes a leap further to using blockchain technology to revive the mortgage industry.
Homelend Solution
Homelend leverages on blockchain technology to create the next generation of home-buyer mortgage financing. It uses cutting-edge blockchain technologies to create an interface for peer to peer mortgage value chain. It creates a direct interface between borrowers and lenders and any other third party involved in mortgage financing.
By using decentralized technology it wants to streamline efficiency, transparency and user-friendly infrastructure to the mortgage industry. It wants to create an ecosystem that is smart, simple and transparent between parties. It uses smart-contract to bring entities together. The Homelend uses blockchain technology to bring an end-to-end platform that streamlines and automate the whole mortgage origination process. The fundamental advantage Homelend brings to the mortgage industry is to modernize the mortgage industry by taking it:
- From manual & lengthy, to Streamlined & Efficient.
- From Ambiguous & Clunky to Transparent & User-Friendly.
- From Costly Intermediation to Cost-Effective & Middleman-Free.
- From Vulnerable & Unreliable to Trusted & Secure.
Token Information
The Homelend is built on the Ethereum blockchain and it is an erc20 token, the token ticker is HMD. The project sets out to use the crowdfunding mechanism to raise fund to execute their project, and the minimum fund they require is $5million and the maximum fund they require is $30 million. The ICO price is 1ETH to 1600HMD and the minimum investment is $1000. The total token available for sale is 160,000,000HMD.
Visit the Homelend official website, join the social media communities and consult the official documents for more information about the project.
Official Contacts
Website: https://www.homelend.io/
Telegram: https://t.me/HomelendPlatform
Whitepaper: https://homelend.io/files/Whitepaper.pdf
ANN Thread: https://bitcointalk.org/index.php?topic=3407541.0
Github: https://github.com/HomeLend
Facebook : https://www.facebook.com/HMDHomelend/
Twitter: https://twitter.com/HomelendHMD
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