{"id":10824,"date":"2018-09-17T12:33:21","date_gmt":"2018-09-17T12:33:21","guid":{"rendered":"http:\/\/bulletins.bfconsulting.com\/?p=10824"},"modified":"2018-09-17T12:33:21","modified_gmt":"2018-09-17T12:33:21","slug":"blockchain-technology-can-rewrite-the-mortgage-process-in-russia","status":"publish","type":"post","link":"https:\/\/bulletins.bfconsulting.com\/en\/blockchain-technology-can-rewrite-the-mortgage-process-in-russia\/","title":{"rendered":"Blockchain technology can rewrite the mortgage process in Russia"},"content":{"rendered":"<p>The Russian economy is moving into a new period of low interest rates, with mortgage rates dropping below 10% and expected to reach below 8% by 2024. Such low interest rates coupled with increasing customer expectations from financial service providers have meant that financial institutions need to increase the ease and efficiency of the mortgage process. Although modern technologies have greatly facilitated much of the mortgage process, customers still need to spend considerable time and effort collecting all necessary documents and references as well as making repeat visits to a financial institution location.<\/p>\n<p>Blockchain technology, however, offers the promise of significantly simplifying the mortgage process. And in May 2018, DOM.RF and Vostok&#8217;s blockchain platform launched a project to develop a platform introducing blockchain technology for just this purpose. In the end, it is hoped that all business processes related to a mortgage (from application to the registration of acquired real estate) can be moved to an electronic format, meaning that a customer can complete all actions remotely. This not only adds much convenience to customers&#8217; lives, it also reduces costs to financial institutions \u2013 a true win-win situation.<\/p>\n<div class=\"rpbt_shortcode\">\n\n<div id='rpbt-related-gallery-1' class='gallery related-gallery related-galleryid-10824 gallery-columns-3 gallery-size-thumbnail'><figure class='gallery-item' role='group' aria-label='BFC FinTech Monitor 25th January \u2013 1st February'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/bfc-fintech-monitor-25th-january-1st-february\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2021\/02\/43748fa4-f76b-4048-9632-dca52e46185a1-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-15742\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-15742'>\n\t\t\t\tBFC FinTech Monitor 25th January \u2013 1st February\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='PayPal joins launch of FinTech educational program in Singapore'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/paypal-joins-launch-of-fintech-educational-program-in-singapore\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/03\/paypal-joins-launch-of-fintech-educational-program-in-singapore-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-12455\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-12455'>\n\t\t\t\tPayPal joins launch of FinTech educational program in Singapore\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Encouraging Georgian SMEs via access to transparent online loans'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/encouraging-georgian-smes-via-access-to-transparent-online-loans\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/05\/skinny-business-man-with-fat-debt-burden-paunch_3446-517-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-9866\" loading=\"lazy\" srcset=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/05\/skinny-business-man-with-fat-debt-burden-paunch_3446-517-150x150.jpg 150w, https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/05\/skinny-business-man-with-fat-debt-burden-paunch_3446-517-300x300.jpg 300w, https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/05\/skinny-business-man-with-fat-debt-burden-paunch_3446-517.jpg 626w\" sizes=\"(max-width: 150px) 100vw, 150px\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-9866'>\n\t\t\t\tEncouraging Georgian SMEs via access to transparent online loans\n\t\t\t\t<\/figcaption><\/figure>\n\t\t<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>The Russian economy is moving into a new period of low interest rates, with mortgage rates dropping below 10% and expected to reach below 8% by 2024. Such low interest rates coupled with increasing customer expectations from financial service providers have meant that financial institutions need to increase the ease and efficiency of the mortgage &hellip;<\/p>\n","protected":false},"author":5,"featured_media":11014,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,12],"tags":[45,105,129,75],"_links":{"self":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/10824"}],"collection":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/comments?post=10824"}],"version-history":[{"count":5,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/10824\/revisions"}],"predecessor-version":[{"id":11013,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/10824\/revisions\/11013"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media\/11014"}],"wp:attachment":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media?parent=10824"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/categories?post=10824"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/tags?post=10824"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}