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.
Sunday Blast! Bitcoin Price Surges Past $9300 Levels to Make a New High for 2019
Monday June 17, 2019
Coinspeaker Sunday Blast! Bitcoin Price Surges Past $9300 Levels to Make a New High for 2019On Sunday, June 16, the Bitcoin bulls raged-in again as the world’s largest cryptocurrency surged past $9000 levels making a new high for the year. At the press time, Bitcoin (BTC) is trading at a price of $9219 with a […]
The post Sunday Blast! Bitcoin Price Surges Past $9300 Levels to Make a New High for 2019 appeared first on 12bit trade.
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!
VenueNext, SeatGeek Partner on Mobile Ticketing App for Minnesota United FC
Tuesday November 06, 2018
Stadium integration platform VenueNext has partnered with Minnesota United FC to build a mobile ticketing app for the 2019 MLS season. The app will use SeatGeek’s ticketing technology, making the company the official ticket provider for Minnesota United. The app will be part of MNUFC’s plans to shift to a 100 percent digital ticketing system
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The post China’s Bank Of Communications Issued $1.3 Billion Securities With Blockchain Technology appeared first on Live Bitcoin News.
Melvin Gordon Apologizes to His Fantasy Owners
Friday December 14, 2018
There must’ve been a lot of disappointed fantasy owners recently as playoff time approached. As always, injuries have completely derailed some teams. And as playoff time came, some significant names were no longer available when it mattered the most because injuries played a massive part. Those who own Los Angeles Chargers running back Melvin Gordon […]