1.0 Introduction
The Mortgage Industry subgroup is focused on technical and business-level issues within the Mortgage Industry and on developing applicable use cases for blockchain technology in the Mortgage Industry (MI). It will bring together technical, academic, and industry-related expertise to address challenges with the MI. These include trust and transparency challenges due to the involvement of multiple entities, no clear mechanism to track end-to-end activities of every entity, and complex operations due to the involvement of many partners, vendors, customers, distributors, and network providers. These aforementioned problems can be addressed through the application of blockchain technology.
1.1 Mission
The mission of the MI-subgroup shall be to:
- Identify specific opportunities where the application of blockchain technologies can meaningfully advance the state of the mortgage industry
- Provide a foundation for real world use case identification, blockchain technology alignment, and operational validation of technology fit for purpose
- Provide recommendations for the ethical use and implications of blockchain technologies
- Promote the community education of, and participation in blockchain technologies, policies, and protocols
- Serve as an open channel of communication between the membership of this Special Interest Group and the leadership of Hyperledger to inform leadership on prospective improvements of Hyperledger frameworks and toolsets, within the context of the mortgage industry
1.2 Goal
The MI-SIG will use decentralized, permissioned HL blockchains to propose and build user-friendly apps that respond to the relative disorder of permissonless environments, where the interests of participants are hard to safeguard.
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