Blockchain Pilots For Mortgages, Recycling, Supply Chain And Digital Identity

Late last week, one of the nation's leading mortgage companies successfully originated a loan on Provenance, a blockchain platform that reportedly allows lenders to originate, service and finance loans with lower costs and reduced risks throughout the loan process. The mortgage company will originate home equity line of credit loans through Figure, a SaaS that offers borrowers the ability to complete the lending process digitally and access their funds in days. Also this week, a digital logistics firm, Marine Transport International, launched Traca – a blockchain-based tool that reportedly enables recycling companies to relay essential data to value chain stakeholders (e.g., trash producers, recyclers, regulators and processing centers) in an accelerated time frame. Traca's first trial reportedly cut administrative processing times from a few hours to minutes during the transport of used paper containers to Thailand from England.