Viva Network: Revolutionary Decentralization of Mortgage Loans

bakso.super (44)in #deutsch • 6 years ago

Mortgage - an amazing thing - is both a huge help and a headache for many people on the planet who need to buy their own housing or real estate for business purposes. Mortgage lending, or housing lending, as a credit tool, has been used for centuries, but despite its popularity, for many it may prove too inefficient.

We found out what the problems of mortgage lending are and how they can be easily solved with the help of Viva Network - solutions from the company of block developers who launched a project aimed at eliminating the difficulties associated with obtaining a loan for the purchase of housing.

The project was launched in May 2016, after which the team Viva Network fruitfully worked, thanks to which already by this time managed to conduct private sales of Viva Tokens tokens, holds a public preselection and is preparing for the main round of ICO, within the framework of which it intends to collect up to 68,770 ETH.

In the first article we will talk about the project as a whole, find out what its idea, decision is and how it will work, in the next - find out what are the problems and difficulties that have developed in the sphere of mortgage lending and how the Viva Network team offers with them to fight, and in conclusion - let's see what the current version of the platform has and what its mobile application looks like.

The idea of the project

The idea of Viva Network is to create a decentralized platform that, based on the technology of blocking, smart contracts Ethereum and its own crypto currency (Viva Token), will bring together two participants - buyers of real estate objects in need of mortgage lending and private investors from around the world who will act creditors.

Borrowers in Viva Network, that is, buyers of real estate in a mortgage, will be able to become absolutely any users, regardless of the purpose of the purchase. Thus, through the platform it will be possible to take a mortgage not only to purchase housing, for example, a private home, but also to real estate for business purposes, for example, an office building.

As a result, Viva Network's creators will be able to provide a decentralized ecosystem in which those wishing to purchase real estate will be able to receive mortgages at low credit rates, avoiding unwanted intermediaries in the form of banks and other financial institutions, and private investors can earn by financing mortgage loans of borrowers.

The organizers of the project themselves argue that the platform will not be part of the mortgage lending area, but the instrument that will destroy the modern mortgage system. Thanks to the decentralization of the mortgage granting process, those problems and barriers that existed in this area before this time will be eliminated.

Key Elements

The decision of the Viva Network project will consist of three main elements, or, as their creators say, their three "cornerstones". We already talked about the first and main of them - the financing of mortgage loans for real estate buyers from private investors.

The Viva Network platform, uniting these two participants, will act as a platform for their interaction, basing their cooperation on smart contracts that are responsible for the fulfillment by the parties of their obligations. In particular, it is with the help of smart contracts that the transfer of funds to the account of the buyer and monthly payments to the investor's account.

The second solution, which will be implemented within the framework of Viva Network, is an automated assessment of residential real estate. Using Real Value 2.0 software (RV2), users will be able to get an accurate estimate of the value of a property based on a number of key criteria, including dimensions, location and other housing features.

Remote evaluation of real estate on the basis of the technology of machine learning and artificial intelligence can be carried out directly through the Viva Network platform, paying for this service using Viva Token tokens. In the final part, we'll talk more about this possibility when we review the MVP platform.

The last element of the Viva Network solution is a credit scoring. Its essence consists in assigning each participant of the platform a unique identification number and creating a rating credit system, relying on the indicators of which users can cooperate in reliable and safe conditions.

This is the decision of Viva Network, in a nutshell. But we are going to look at the project from the inside, so in the next part of the review we'll talk in more detail about what problems can be solved with this decentralized platform .