Mortgage Smart Contract

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What is a Mortgage Smart Contract

A Mortgage smart agreement is a contract between a borrower and a lender written on the blockchain which regulates the mutual promises made by each party.

Key Features

  • Store partial

    identity information on the blockchain

  • Complete verification

    automatically

  • Monetise

    specific personal information

  • Merge with other

    smart contracts

Overview

Smart contracts can automate mortgage contracts by automatically connecting the parties, providing for a frictionless and less error-prone process.The smart contract can automatically process payment and release liens from land records when the loan is paid.

They can also improve record visibility for all parties and facilitate payment tracking and verification. They reduce errors and costs associated with manual processes.

Digital identity is a key requirement.