Zventus, a business consulting firm, announces the launch of a blockchain lab to revolutionize mortgage lending.
Zventus, a global business provider, announced Monday a new initiative called the "Mortgage blockchain Lab." This lab is intended to bring together the resources of many mortgage experts and technology companies to work on blockchain research and development that focuses on the mortgage sector.
California-based company, whose products and services include business consulting, human resource strategy, and tech support, will collaborate with its blockchain partners to create and test new products.
Initial reports by the firm indicate that loans to financial institutions will cost less once the services have been launched.
Angel Alban, president of Zventus believes that blockchain has the potential to help the sector develop.
There is no doubt that blockchain can disrupt the mortgage industry. Blockchain's ability to create a transparent, secure ledger that is independent of any central intermediary is gaining momentum in Europe and Asia. It also has significant potential in the Americas. We are thrilled to be part of the technological revolution that will forever transform mortgage processing strong
Zventus was founded in 2016 and has since expanded to provide services in 180 countries.
The lab uses Ethereum (ETH), Hyperledger, and the expertise of its academic partners. It has also stated its ambitions to create 1000 new jobs in blockchain technology by 2024.
Alban continued to observe:
"We are excited about the future of Blockchain in the Mortgage Sector and we look forward collaborating with our customers and partners to reinvent it."