The team of BlockInvest, a FinTech project known as a financial instrument marketplace, is partnering with Bitcoin’s second-layer protocol Mintlayer in pursuance of perfecting financial procedures for real estate owners and investors with the help of blockchain technology.
The main objective is to empower financial instrument operators, such as real estate sellers, with a higher reach for potential clients in a future-proof environment without intermediaries.
With the introduction of Mintlayer protocol, BlockInvest will also introduce seamless asset transferability, as well as highly efficient markets for transferring value-pegged assets or transact with the derivatives.
According to BlockInvest - RealHouse CEO Lorenzo Rigatti, the company has previously explored several other options for building its blockchain infrastructure. EOS, Cosmos and Algorand were amongst those considered for the upgrade.
Nonetheless, all ended up swiftly rejected: “With these blockchains being permissioned, they are no different from a structured database, in terms of decentralization. Currently, we use Ethereum as it’s a viable option for large sum transactions.”
However, the company’s CEO also expresses concerns over large transaction fees that the Ethereum network bestows on its users: “Currently, we are considering using other blockchains mainly due to high ETH transaction fees that are steadily increasing over time. One of the options could be the Mintlayer network - we have calculated the potential of $20,000 in yearly savings if we would do it now.”
However, high gas fees are not the only reason why BlockInvest team eyes Mintlayer. A decentralized protocol utilizes Bitcoin’s network security, allows token issuance and has a native built-in solution for doing KYC and notarizing documents, in addition to programmable pools that could be used to distribute dividends easily.
“For us, the main purpose of using a blockchain is to become truly decentralized. While Mintlayer offers more efficient operations than Ethereum, the decentralization aspect of being Bitcoin-based is the most appealing. Besides, Mintlayer can help us ensure compliance, increase efficiency, and, most importantly, achieve unparalleled security”, emphasized the CEO Lorenzo.
About BlockInvest:
BlockInvest is a financial technology project that allows businesses to create bespoke financial instruments. The company seeks to replace current financial procedures by improving the journey of an instrument operator, providing means to enter the blockchain markets and remain compliant.
About Mintlayer:
Mintlayer by RBB SRL (a certified high technology company in San Marino) is a future-proof blockchain built on top of Bitcoin’s network. It greatly improves on direct token interoperability and enables ways to trade value, create systems, functionalities, as well as participate in truly trustless finance markets.
