Escolar Documentos
Profissional Documentos
Cultura Documentos
Mortgage
Technology
Blockchain: Mortgage and Settlement Industry
Stands on the Edge of Tomorrow
By Derrick Jones
ouve probably technology would be the inability industry, and how it could
Y
heard the term to alter or tamper with its data) revolutionize the way we do
blockchain and the fact that blockchain, as it business down the road.
mentioned in the is today, cannot facilitate massive
past year or so. You amounts of transactions faster How it works
may know that its have derailed the possibility of it Mortgage Finance Gazette, in an
related to (actually, at the impacting the industry soon. article posted May 1, 2017,
foundation of) bitcoin technology. Thus, the same things that make defined blockchain technology as
And youve probably heard, to blockchain so appealingits follows:
some degree, that blockchain decentralized nature and the trust Blockchain is a new computing
technology could be a game garnered by the difficulty of architecture that was initially
changer throughout the altering blockchain dataare created to power the
mortgage industry. But unless also what are holding it back cryptocurrency application
youre a student of the topic, you from being used for new Bitcoin. The architecture is both
may be wondering why were not purposes. a network and a database,
hearing more about this. But that doesnt mean optimized for real-time, global
Most agree that the blockchain cant or wont make synchronization of transactions
introduction of blockchain its mark on the mortgage world and related data. Much like the
technology would, indeed, bring eventually. Internet, blockchain technology
a change more dramatic than any Setting aside the premise that can be used to build many
weve seen in the mortgage blockchain applications may not different applications utilizing its
industry for decades. However, be imminent for our industry just underlying secure, flexible, and
concerns about potential security yet, lets have a look at what this auditable transaction and
flaws (ironic, since one of the white whale might mean for the settlement infrastructure, not
potential benefits of the mortgage and settlement services just to power virtual currency.