BankSocial Introduces Blockchain-Based Home Loans
BankSocial introduces the first Blockchain home loan using sophisticated technology allowing BankSocial to provide the world with a digital closing solution.
"Blockchain technology is a big step forward in the mortgage industry," said Wingate. "This solution gives us an opportunity to leverage this new technology and provide better service for our customers." With blockchain-based mortgages, borrowers will be able to store their documents on the blockchain securely and easily share them with other parties as needed during the transaction process. The platform also allows you to make payments quickly using cryptocurrency if desired. In addition, by putting all records of transactions into one system that can't be changed without everyone knowing about it (which makes fraud less likely), we're giving people peace of mind when they buy or sell their homes. We've developed these new solutions because we know how important your data privacy is to you - and we're committed to protecting it."
The platform is currently being tested by BankSocial customers in the U.S. and will be available worldwide later this year, with plans for expansion into other countries as well. BankSocial is also working with regulators around the world to ensure that blockchain-based products are compliant with local laws and regulations. "BankSocial's new technology offers significant advantages for consumers, lenders, and real estate professionals," said Wingate, CEO of Fivancial. "The system is faster and more secure than traditional mortgage solutions. It also simplifies the process by eliminating paperwork and making it easier to get approved."
BankSocial's new solution is immediately available in the US and will be expanding into other markets worldwide with plans already underway for expansion into Canada, the UK, and most of the EU.
In addition to BankSocial home loans, business hard money loans are also available worldwide for immediate use. The business hard money loan is focused on the real estate market to allow holders of crypto to utilize their crypto funds to flip homes and complete new construction. The Keep Your Crypto program is also available to business users, "We wanted to give business owners the ability to stake, and for a short period of time, get access to funds that they would have otherwise had to sell their crypto to access.", said Wingate. The evolution has arrived with these two products and Fivancial is leading the way in the real estate and asset-backed lending space in blockchain and crypto.
For more information, please visit our website at Banksocial.io or contact us at press@banksocial.io.
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1 https://www.banksocial.io
2 https://www.banksocial.io/personal/crypto-home-loans
3 https://www.banksocial.io/business/crypto-hard-money-loan