Block66 initial coin offering (ICO)

We Are Securitizing Mortgages on the Blockchain



Block66 is building a new blockchain-enabled marketplace for mortgages. Institutional and private lenders can use the service to offer loans to a wide range of borrowers, introduced by Block66 broker partners. Through the practical use of smart contracts, loans can be taken from origination to facilitation, quickly and efficiently. All loans are also represented as tradable tokenized securities, providing a liquidity mechanism as standard. The ability to trade fractions of loans, and reduced order and issuing fees makes investing more inclusive, providing an attractive investment vehicle for all manner of investors. Thanks to the use of cryptocurrency, Block66 eliminates the need for a bank account, overcomes geographical lending restrictions and reduces counterparty risk to mere minutes. For borrowers, the transparent and competitive nature of the marketplace will benefit the consumer and give them confidence that they’re getting near enough the best offer achievable.

4.5
6 6 expert ratings
4.3
4.7
4.5
3.7
View rating distribution
Starts in 1 year ago
2018-09-20 - 2018-10-20
Token
B66
Type
ERC20
Bonus
Available
Price in ICO
1 B66 = 0.10 USD
Platform
Accepting
Soft cap
3,000,000 USD
Hard cap
12,285,000 USD
Raised
0
preICO start
Sep 6, 2018
preICO end
Sep 19, 2018
ICO start
Sep 20, 2018
ICO end
Oct 20, 2018
More on ICO
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About Block66 ICO

Block66 is building a new blockchain-enabled marketplace for mortgages. Institutional and private lenders can use the service to offer loans to a wide range of borrowers, introduced by Block66 broker partners. Through the practical use of smart contracts, loans can be taken from origination to facilitation, quickly and efficiently. All loans are also represented as tradable tokenized securities, providing a liquidity mechanism as standard. The ability to trade fractions of loans, and reduced order and issuing fees makes investing more inclusive, providing an attractive investment vehicle for all manner of investors. Thanks to the use of cryptocurrency, Block66 eliminates the need for a bank account, overcomes geographical lending restrictions and reduces counterparty risk to mere minutes. For borrowers, the transparent and competitive nature of the marketplace will benefit the consumer and give them confidence that they’re getting near enough the best offer achievable.
Block66 introduces the first platform where lenders can access a marketplace of vetted borrowers looking for mortgage finance. This marketplace is public, transparent, and highly automated, so lending is streamlined, with lower costs, and lower risks. Each loan is represented as a pool of "proof of loan" (PoL) tokens that can be individually resold to investors, providing lenders with liquidity, and empowering a diverse pool of investors.

Block66 reviews

Louie Cesario
Blockchain Marketing and Creative Strategist | Investor | Trader
Rated on Jul 12, 2018
5
5
4
9%

Proven all star team with members that have extensive experience in the space, combined with people that are well versed in the blockchain technology. They are attacking a market that is ripe for disruption. I am honestly surprised that no one has done this yet.

Matt Markham
COO at BlockchainWarehouse
Rated on Jul 16, 2018
5
5
5
10%

Do a Google search for competitors to get a sense for how far ahead of the game Block66 is: https://www.google.com/search?q=blockchain+mortgages&source=lnms&tbm=nws&sa=X&ved=0ahUKEwipmKSFtqDdAhXTHDQIHS5YAVUQ_AUICigB&biw=2133&bih=1082

Solid team, experience with Habito, a 200 million pound valued company in the UK. The product is being built by developers with experience building products for Lloyd's of London.

The team has a vision to be involved with every single real estate blockchain purchase. It's a big goal, with a team ready to do it.

Joe has 5+ years as a mortgage CEO, James has sold a P2P lending business and their team and advisors combine just the right mix of technology, financial services and real estate.

Some advisors of note:

Hakim - ex-GS trader in mortgage backed securities, now at JP Morgan mortgages

Piper Moretti - first person to buy property with bitcoin. leading female entrepreneur.

Maurice Helirhy, PhD - grandfather of blockchain computing

Reza Jafery
Chief Strategy Officer, Chief Marketing Officer
Rated on Jul 30, 2018
5
5
5
7%

I'm giving this 5's across the board because this is one of those projects that when I first heard about, I thought, "How is it possible that no one has thought of this already?!?"

Genius idea, tokenizing mortgages and facilitating the purchase of real estate for the everyday person with blockchain. Other real estate focused blockchain projects simply facilitate the purchase of property, with an upfront payment-- what percentage of the population of the world can pay $10million upfront in crypto to buy a house?

I like Block66 because yes, it's cool that you can buy a house with crypto through its competitors, but in reality-- Block66 is a platform that people can and will actually use.

Not to mention the team is filled with people from the mortgage industry, people who have successfully exited FinTech companies, and people with prior crypto experience. This project is a shoe-in in my opinion.

Paul Cliffe
ICO advisor|Crypto-asset and ICO investor| Libertarian|CEO of Block Venture Project
Rated on Aug 31, 2018
4
4
2
16%

Team - some good members, some good education but also some gaps in experience. Needs greater emphasis on legal hires due to the nature of the project. All core team members need to list project on LinkedIn, 3 for now.
UPDATE - as the retort clearly states the legal advice being given, more than happy to update to 4.

Vision - there seems to be a disconnect between the loan and its token securitisation. This seems a little like having you cake and eating it - a lender can create a mortgage, securitise it through a CDO or similar method and then further securitise it through tokens on this platform. Does the platform hold any rights in case of default on the loan? The problems that the project looks to solve don't appear to be problems, in my opinion. Stating that lower credit rated consumers struggle to get mortgage finance this side of the 2008 market crash doesn't strike me as a problem, it seems like prudence. The crash was a result of dodgy economic theory (only pockets of price decreases will be seen, so risk balances on a national/international scale) twinned with political pressure (blueprint for the American dream) which allowed for credit to become free and easy. This project seems to want to reinstigate the issues that caused a world economic crash.
No explanation of how funds raised will be spent. Essentially the first form the project will take is a matching service for lenders and borrowers. This doesn't seem so different to what happens now on comparison websites or through mortgage matching software. There are no competitors mentioned or overview of where or how the platform developed will disrupt the market.

UPDATE - I've been given guidance that there will be no conflicts of mortgages getting included in CDOs or MBSs if they have been tokenised. This calms a few nerves for the project vision for me. I disagree that listing how ICO funds will be spent could get the project into trouble. Being open and honest with your backers is never a bad thing in my opinion. The comments on mortgage matching software are news to me, as there are plenty of platforms that handle it here, but there must be a market for it on the other side of the Atlantic.

Product - pre-MVP, non functional and doesn't seem to fit the vision explained in WP. No MVP. More than happy to update once MVP is ready.

UPDATE - happy to score as a 2 for now as at least some effort to show what the platform will do has been made here.

Please note - the above changes to the review do not constitute financial advice. Be sure to complete your own thorough research of this and any project before you consider backing it.

Krutesh Shah
Enterprenuer | CEO | ICO Advisor |Investor | Blockchain Enthusiastic | Public Speaker
Rated on Sep 9, 2018
5
4
4
15%

Good team and good vision. Whitepaper needs some more details and info graphics. MVP is there but not fully functional. Token economics looks ok. Best of luck team.

PlumBot
ICO Analyzer Bot
Rated on Sep 23, 2018
0
0
0
43%


Experts are independently and voluntarily contributing to the community. If no expert has rated the ICO, only ICO analyzer's results are used. Always research before investing as these ratings should not be taken as an investing guide of any kind.

Ratings and ICO analyzer results are being updated (re-calculated) every few hours.

Block66 ICO price

Price in ICO

1 B66 = 0.10 USD

Block66 (B66) crypto

Block66 coin

Block66 token
B66
Block66 type
ERC20
Block66 platform

Block66 (B66) value

Tokens for sale
135000000

Block66 investment info

Accepting
Min. investment
100 USD
Distributed in ICO
45%
Soft cap
3,000,000 USD
Hard cap
12,285,000 USD

Block66 whitepaper

Block66 team

Apply as an advisor

Joe Markham

CEO & CO-FOUNDER

James Tuckett

CPO & CO-FOUNDER

Carmelo Pullara

SENIOR DEVELOPER

Block66 milestones

1
Q1 2017

WePower idea

2
Q1 2019

WePower idea

3
Q2 2018

WePower idea

4
Q3 2018

WePower idea

5
Q3 2019

WePower idea

6
Q4 2017

WePower idea

7
Q4 2018

WePower idea

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