Smart contracts are a new technology made possible by public blockchain platforms. Smart contracts are very difficult to understand because this term partly confuses the core interactions described. Although standard contracts can describe the terms of the relationship (usually those that can be enforced by law), intelligent contracts impose a relationship with the cryptographic code.
In other words, smart contracts are programs that are run exactly as regulated by the manufacturer. First discovered in 1993, this idea was originally described by computer and cryptographer scientist Nick Szabo as a kind of digital vending machine. In his famous example, he describes how users can enter data or values, and receive limited items from machines.
What is Viva?
Viva is a platform that allows users to be able to validate their required mortgage loans into thousands of Fraction Mortgage Shares and open up the ability for home buyers to start their loan capital in a peer to peer manner from a global network, crowdfunding investors. In simplifying the process and avoiding the banking system, Viva will be able to reduce interest rates significantly for consumers and ordinary investors while providing savers access to a profit model that has encouraged banking companies to become some of the most influential organizations in the world. (Also read our writing about Viva Network)
Why Use Blockchain Technology?
- Tokenizing Mortgages
Break down the barriers to securitization
Mortgage securities or anything else, in this case, can now be faster and more efficient and no longer require large costs, large investment banks and many other intermediaries that are still associated with the old inefficient securitization process.
- Payment of remittances
Value transfer is fast, cheap and safe
Transfer payments with blockchain technology can transfer the value of payments with efficiency and unprecedented. This is ideal for international fixed income investments, such as FMS.
- Peer to peer financing
Crowdfunding + smart contract
The Ethereum state-of-the-art intelligent contract protocol allows the peer to peer financing unlike before. Now peer to peer financing is truly trustworthy, transparent and secure.
The blockchain protocol for pioneering private mortgage securitization and unlimited financing.
- Decentralized authority
The mortgage industry has one of the most centralized structures of any industry in the world that has led to a long history of inefficiency, bureaucracy, and corruption. We believe that it is very important to distribute these strengths & benefits and to return them to the real consumers, borrowers, and lenders.
- Peer to peer network philosophy
Utilizing the power of global and economic communities to share to break down barriers and revolutionize inefficient old financial systems.
- Blockchain & smart contract infrastructure
Providing unprecedented efficiency and transparency for borrowers and lenders.
- Power of the free market
We believe that introducing free markets into industries that have historically been monopolized by large companies and will drastically improve them for the benefit of consumers and society globally.
- Creation of true value – through innovation
By using innovation and creativity, our community of architects, developers, and economic revolutionaries believe in the creation of true value, where offers fulfill demand. Market manipulation and regulatory intervention are band-aids, not solutions. We are trusted in creating solutions.
How is Viva Different?
Viva Network Team
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Author: AaXray | Profile: https://bitcointalk.org/