In Brief:
- Zventus announced the launch of a blockchain lab today.
- Its aim is to revolutionize the mortgage industry.
The global business solution provider Zventus announced a new blockchain initiative called The “Mortgage Blockchain Lab.” The lab aims to bring together the knowledge of various mortgage specialists, technical firms, and academic institutions.
The new Lab will concentrate on developing new products, services, and solutions to enhance the loan process.
The lab’s goal is to create 1,000 new blockchain technology employment by 2024, using Ethereum (ETH) and Hyperledger. It also aims to be an expert of its technical and academic partners.
According to early reports, if the services are released, the costs of loans for financial institutions will be reduced by 50%.
Zventus has extended to 180 countries and offers services in 220 languages since its beginning in 2016.
Angel Alban, president of Zventus, believes that blockchain has enormous potential to help the sector grow. He said:
“There’s no doubt in blockchain’s ability to disrupt the mortgage industry. The capabilities of a secure, transparent ledger without a central intermediary are taking off in Europe and Asia and gaining significant traction in the Americas. We’re thrilled to be at the forefront of a technological revolution that will transform mortgage processing forever.”
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Alban then continued: “We are excited for the future of blockchain in the mortgage sector, and we look forward to collaborating with our clients and partners to reinvent this important element of financial services.”
