Block66 is building a new blockchain-enabled marketplace for mortgages. Institutional and private lenders can use the service to offer loans to a wide range of borrowers, introduced by Block66 broker partners. Through the practical use of smart contracts, loans can be taken from origination to facilitation, quickly and efficiently. All loans are also represented as tradable tokenized securities, providing a liquidity mechanism as standard. The ability to trade fractions of loans, and reduced order and issuing fees makes investing more inclusive, providing an attractive investment vehicle for all manner of investors. Thanks to the use of cryptocurrency, Block66 eliminates the need for a bank account, overcomes geographical lending restrictions and reduces counterparty risk to mere minutes. For borrowers, the transparent and competitive nature of the marketplace will benefit the consumer and give them confidence that they’re getting near enough the best offer achievable.
- Block66 is conceived. Work begins on drafting the whitepaper and contact is made with some early advisors and team members.
- Planning work begins on the Block66 platform. User journeys and operating flows are designed for the matching engine.
- TGE launch planned for end of June. Office build out begins. Wireframing and prototypes of platform produced.
- Ramp up marketing and business development efforts. Form "Block66 Alliance" of customers. Move aggressively into product planning and design.
- Alpha testing phase with first customers using the platform. First "Block66 Alliance" report.
- MVP Launch, with first batch of on-chain loans funded and distributed via the network.
- Loan tokenisation. Network users can trade on-chain securities on a fractional basis, with smart contracts ensuring that loan repayments are distributed to all token holders.