By David Drake
The blockchain technology is disrupting a whole plethora of the smallest to the largest industries and applications. I recently caught up with HFC Coin’s Bryan Stone, CEO, and James Lopez, President/CTO, who shared how the emerging technology is going to reshape the mortgage industry as we know it. HFC harnesses the power and security of blockchain technology and artificial intelligence to solve real-world problems of mortgage customers and mortgage investors. The HFC platform ensures that all stakeholders in the mortgage process are taken care of.
We are reducing the unnecessary costs associated with obtaining a residential mortgage in the United States. Using Blockchain and AI we can dramatically reduce the consumer costs and we are able to open up mortgage investing to smaller investors as opposed to only institutional investors. – Bryan Stone, CEO
2. What makes blockchain the ideal technology for solving this problem?
Blockchain offers unprecedented security and the ability to all but completely eliminate fraud by bad actors. In addition, Blockchain gives both borrowers and investors complete transparency of the mortgage ownership and terms. – Bryan Stone, CEO
3. Which key markets, industries or applications will benefit from the scalability of your technology or platform?
The entire US mortgage systems. – Bryan Stone, CEO
4. What makes ICO or ITO the best way to raise capital for your blockchain company?
It is an active community of investors that focus on companies that are disrupting existing industries. We aim to alter the mortgage industry forever and we feel that goal closely mirrors the disruptive nature of ICO investors. – Bryan Stone, CEO
5. What is unique about your token or coin that will encourage mass adoption and why?
Unlike several other coins or tokens, HFC Coin is backed by actual assets, in this case, mortgages. – James Lopez, President & CTO
6. What is the main challenge your platform is facing right now?
The challenge we face is making the mortgage business attractive to the tech-heavy ICO market. Mortgages are not the first thing that jumps to mind when you think of a technology company, but that is precisely where our strength is as a company. We are bringing a fresh take on an old industry. – Bryan Stone, CEO
Disclaimer: David Drake is on the advisory board for most of the firms mentioned or quoted in this article.