In yet another definitive affirmation of the merit behind distributed-ledger technologies (DLT), China’s Bank of Communications (BoCom), has issued $1.3 billion of residential mortgage-backed securities using its proprietary blockchain-based network.
INX, Crypto and Security Token Exchange, Planning to Raise $130 Million via IPO
Tuesday August 20, 2019
Coinspeaker INX, Crypto and Security Token Exchange, Planning to Raise $130 Million via IPOINX Limited is a cryptocurrency exchange startup which plans to do an IPO as their token sale. The main difference is that this time the whole party wants to be properly regulated. While it is known that the 2017 ICO craze was […]
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The issuance of $1.3 billion residential mortgage-backed securities (RMBS) was carried out by the state-owned commercial bank BoCom and it was handled through its proprietary blockchain-based network, local financial media reports.
The lead underwriter, as well as book runner for the offering, was China International Capital Corporation. Purportedly, this is the very first launch of residential mortgage-backed securities on the market which is based on blockchain technology.
The blockchain network in question is called Jucai Chain and it was launched back in June, beginning the very first phase of the issuance of digital RMBS in July.
Using blockchain-based technologies brings distinct advantages over conventional solutions, as evident from the offering. All parties involved in the loan are entirely enabled to track assets, to perform various business operations on the chain, and to manage their cash flow effectively. Citing a report by China Securities Times, China Money Network also outlines that the usage of blockchain reduces risks and shortens the RMBS issuance time while, at the same time, ensuring the authenticity of the assets.
Furthermore, the entire BoCom digital mortgage base is going to be openly available for important third-party intermediaries such as consulting companies PwC, and others alike.
Earlier this year, Live Bitcoin News reported that the Commonwealth Bank of Australia has used blockchain technology to successfully ship 17 tons of almonds. According to the bank, the technology enabled it to guarantee a greater level of transparency and efficiency in terms of authentication of the goods, tracking location and condition.
What do you think of BoCom using blockchain-based technology to issue RMBS? Don’t hesitate to let us know in the comments below!
ESPN+ Expands NBA G League Coverage With New Multi-Year Deal
Wednesday November 07, 2018
More than 200 NBA G League games each season will be coming to the ESPN+ streaming platform as part of a multi-year deal announced on Nov. 5. The deal started Tuesday when the Westchester Knicks defeated the Delaware Blue Coats in the G League season opener. ESPN+ will broadcast multiple G League games per day
The post ESPN+ Expands NBA G League Coverage With New Multi-Year Deal appeared first on W88.
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DaeSean Hamilton Fantasy: Outlook & Week 15 Matchup for Broncos WR
Friday December 14, 2018
The Denver Broncos were dealt a brutal blow prior to Week 14 when top wide receiver Emmanuel Sanders left practice due to an injury. Things got even worse after it came to light that the injury was serious as well. As first reported by NFL Network’s Ian Rapoport, it was believed Sanders suffered a torn Achilles, […]
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