CoinDesk spoke to several real estate and blockchain experts to look into how blockchain technology could bring efficiency and transparency to the $10tn US mortgage industry.
All agree that the potential and the need are there, as the current process involves sensitive data and hundreds of documents, many of them requiring multiple versions, with multiple parties editing.
Among the main advantages of putting the process on the blockchain are cost reduction, information sharing and better record keeping.
However, even if adoption begins in the near future, it is likely to be a slow process. Users will need to get comfortable not only with a complex subject, but also with issues such as security and regulation.
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Toward Better Security and Governance With Blockchain *Year in Review*: Valery Vavilov, founder and CEO of Bitfury Group, looks back on a year of declining faith in institutions, and ahead to a world of blockchain-enabled trust, transparency and ease of access. In his opinion, one of the most promising contributions of the bitcoin blockchain will be enhanced security, which will in turn reinforce confidence. Read more.
BTCC and OKCoin Welcome Greater Bitcoin Exchange Oversight In conversation with CoinDesk, China's BTCC CEO Bobby Lee explained why increased regulation would be a positive development. That sentiment was echoed by OKCoin CEO Star Xu in a separate statement. Xu also confirmed reports that the creation of a "third-party platform" to improve security, similar to that used by stock exchanges, was under consideration but that the dialogue was still at the theoretical stage. Readmore.
Sweden's Blockchain Land Registry to Begin Testing in March A project led by the Swedish National Land Survey and blockchain startup Chromaway to record land titles on the blockchain will begin public testing in March. In conversation with CoinDesk, Chromaway's CEO confirmed that while the test will not be connected to live data, it will encourage the participation and feedback of regulators and other actors in the space. Read more.
US Government Looks to Fund Blockchain Research The US National Science Foundation (NSF) is soliciting research proposals from which it will select between seven and nine projects to receive grants of up to $1m each. In the solicitation, the NSF indicates a particular interest in how blockchain technology can improve cybersecurity. Read more.
Bitcoin Exchange Operator Pleads Guilty to Money Crimes Anthony Murgio, the former operator of the now-defunct bitcoin exchange Coin.mx, has plead guilty in federal court to three charges. Read more.
Bitstamp to Launch New Ripple Trading Pairs Bitstamp has announced the launch of US$ and euro trading pairs for Ripple's XRP digital asset. Read more.
India's Axis Bank to Launch Ripple Payments India's Axis Bank will soon begin using Ripple's blockchain network for cross-border transactions. Read more.
US Treasury Advisors Weigh Blockchain Insurance Impact An advisory council to the US Treasury Department met in Washington, DC, last week to discuss the application of blockchain technology in the insurance market. Read more.
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