Bacon Protocol offers industry-first ‘NFT mortgages’
Blockchain technology and smart contracts are helping to expand the residential mortgage market beyond the grip of big banks and governments. Decentralized mortgage lender Bacon Protocol has minted its first seven mortgages as nonfungible tokens, or NFTs, offering investors and borrowers new options for accessing the residential mortgage market. The interest rate for each NFT mortgage ranges from 1.5% to 3.1% on properties in four U.S. states, the company disclosed Wednesday. That’s the interest rate borrowers pay after minting their mortgage through Bacon Protocol. By comparison, the....
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The platform gives crypto holders direct access to the mortgage investment market, which is currently controlled by banks and governments. Decentralized mortgage lender Bacon Protocol officially launched on Tuesday, allowing cryptocurrency investors to participate in the housing market through a new stablecoin that’s backed by USD Coin (USDC) and home loans. In addition to launching its protocol, Bacon announced Tuesday that it is holding a public sale of bHome token, which is described as a Stable+ Coin that’s backed “dollar for dollar” by USDC, liens and loans on properties in the United....
As the blockchain and cryptocurrency industry grows, more and more traditional finance instruments are adopted. Decentralized finance or DeFi offers standard financial tools while still working with no intermediaries and functioning on blockchain smart contracts. Multiple Finance is a DeFi protocol based on Ethereum that facilitates professional automated market maker (AMM) liquidity strategies for expert […]
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Last week BitPay launched a support platform for the Bitcoin Payment Protocol, working to make Bitcoin payments easier than ever for merchants and users. The payment protocol eliminates much of the human error in completing a bitcoin payment, while providing a streamlined approach to the transaction process. A user can simply click on the payment link or scan the QR-code and offers two payment choices, either 'pay' or 'don't pay,' which means that there is no need to copy the address and amount into their wallet. BitPay's Payment Protocol Support provides multiple solutions that reduce....
This is a guest post by Michael Folkson. The Internet was originally developed as a network for information exchange. Now, a multitude of entrepreneurs and software developers are building the Internet for value exchange. The next logical progression is to build the Internet for risk exchange. Just as units of currency can be transferred to a third party, insurance contracts transfer risk exposures to a third party. Blockchain technology has the potential to radically transform how the insurance industry operates and how risk exposures are shared and distributed. While Bitcoin offers a....