SILICON VALLEY, CALIF./ SEPTEMBER 13, 2018 (STL.News)
According to the Federal Reserve Q1 2018 Report, the current US market for residential loans is estimated at over $14 trillion, with 1.7% of these loans failing to meet scheduled payments (Non-Performing Loans or NPLs) which are then traded at a significant discount. Because of the capital and knowledge required to pursue this asset class, control over this market has been dominated by large institutional investors.
To democratize access to this market, BitCasas, Inc. founders Ramesh Ramadoss and Bao Tran conceived the idea of a fully transparent blockchain platform that offers thoroughly vetted and managed debt portfolios without excessive fees or operational overhead. “To help individuals all over the world understand the benefits of mortgage debt as an asset class – ownership in real estate without the management headache – we are deploying the BitCasas online investment platform. Using blockchain as its backbone adds full transparency and instant liquidity through tradeable asset-backed security tokens” says Ramadoss. “Our platform provides greater individual participation in this market by tapping into the power of the community in due diligence and NPL deal flow immediately in residential home loans, with an eye on commercial loans in the future.”
BitCasas’ executive team has over 100 years of combined technology, legal, and management experience in sourcing high-grade mortgage loans secured by US real estate. CEO Ramadoss has been actively pioneering a specialized community for blockchain technologists on a global scale, and currently chairs the blockchain standards working group at the IEEE, the body that specifies WiFi and Bluetooth standards, among others.
About BitCasas, Inc.
BitCasas is the world’s first international blockchain platform for tokenization of secured real estate loans. The firm serves as a bridge between individuals all over the world and note professionals with local expertise to improve deal flow and liquidity to the note industry for the first time. For more information, visit http://bitcasas.io/.
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