Block66 Rating & Review

updated 27 September 2018

Block66 is developing a new mortgage lending platform that leverages blockchain technology.

Status: ended
Public sale: 06 Sep`18-20 Oct`18
Cap: 12 285 000 USD
Goal: 12 285 000 USD
Price: 1 B66 = 0.1 USD
Blockchain: Ethereum
Offering type: Utility
Country: Canada
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Block66 Rating

Block66 does not have a rating from ICObazaar.

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Our ICO rating evaluates the overall quality and viability of the product, team, and technical implementation behind. It is calculated with a weight-adjusted formula with five factors and a separate industry expert score. Each factor evaluates an aspect of the project and its weight is related to its importance, which was determined by blockchain and finance professionals. Our rating methodology.

Block66 review

Block66 is building a new blockchain-based marketplace for mortgages. Institutional and private lenders can use the service to offer loans to a wide range of borrowers.

Advantages

  • The Block66 platform will be capable of browsing through hundreds of lending offers to find a selection of best possible deals for the broker and the borrower.
  • Lenders will gain exposure to the global mortgages market, including emerging economies.
  • The ability to trade fractions of loans.
  • Block66 eliminates the need for a bank account, overcomes geographical lending restrictions and reduces counterparty risks.
  • Team has great financial and technical experience: ING, Virgin, Goldman Sachs, Deutsche Bank, Brown University and etc.

Disadvantages

  • Although pre-ICO starts in September, the hype level is too low.
  • No MVP yet.
  • It is unclear from the whitepaper how they will avoid default risks.

Verdict
The project is very interesting and the team is strong and capable to to carry it out. Moreover it’s the first project in mortgage lending. However the hype level is low, Block66 has a small community that is a disadvantage. Also it is hard to evaluate the project without MVP, according to the roadmap it will be launched in Q1 2019 and the mainnet will be in place in Q3 2019. In our opinion we should wait untill the pre-ICO will be finished, to evaluate the investment potential of the project.

Comments2

1

Block66 is not a typical real estate ICO. It is not a crowdfunding real estate platform, which is 99% of what's out there.

 

Block66 has a team of entrepreneurs who've sold businesses in the past, are in the mortgages space (CEO has owned a mortgage company for 5+ years, CPO sold a P2P lending company in the UK, advisors have worked with Habito, a $250M UK real estate startup).

 

It's not necessarily a "sexy" space, but it's required for 99% of real estate transactions, and will get a fee from almost every single real estate purchase, creating a stream of tokens for B66 token holders.

0

I agree.