HashCash Blockchain Consultants announce Partnership with UAE Bank

HashCash Blockchain Consultants announce Partnership with UAE Bank

HashCash announced its partnership with the UAE based Global Bank with the help of its permissioned Blockchain-based commercial lending solution.

The entire mortgage value chain is highly divided among the financial intermediaries, government organizations, and other participants in the entire mortgage ecosystem.

The lending process is paper-based, involves costs and also prone to manipulations and errors. Blockchain technology aims to increase overall process efficiency, reduce the cost of operations with suppliers, customers, and agents, notes the announcement.

Blockchain Advantage

The partnerships help the UAE based Global Bank to leverage the power of blockchain technology to its commercial lending network.

The distributed ledger ecosystem speeds up the transactions and incorporates efficiency in a given process, paperless environment, and transparent network. The validation and traceability of transactions will be also possible due to transparency brought in by blockchain technology.

Smart contract based process interlinks loans, other payments, and approvals. This helps in improving the overall customer experience for the bank, notes the announcement.

PC: Pablo, Pixabay

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Udit Agarwal is a Digital Marketer and a Content Marketing Specialist, He enjoys technical as well as non-technical writing. His passion and urge for gaining new insights on gadgets, smartphones and technology has led him to Techsutram. He quenches his thirst for technology through his action oriented writing skills and a profound ability to stay up to date with latest industry trends.

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