►
Description
Watch the latest update from the Hyperledger Mortgage Subgroup where they discussed the impact of the cryptocurrency implosion on the mortgage market and other blockchain developments, as well as an update on the state of the global blockchain industry.
Timestamps:
00:00 Welcome and presentation
03:00 Community information
03:58 Key Blockchain Developments in the mortgage industry in 2022
25:59 Status of blockchain in the mortgage in the mortgage industry
37:16 Q&A
Join the FMSIG Mortgage Subgroup Wiki: https://wiki.hyperledger.org/display/CMSIG/FMSIG+Insurance+Markets+Projects
Subscribe to the mailing list to receive the latest updates: https://lists.hyperledger.org/g/financial-markets-sig
Follow the Hyperledger Financial Markets Special Interest Group LinkedIn page: https://www.linkedin.com/showcase/hyperledger-financial-markets-sig/
----
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License
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A
Welcome
everyone
to
the
January,
2023
hyperledger
financial
markets,
mortgage
subgroup
meeting.
That's
always
a
mouthful,
we're
glad
to
start
up
this
series
of
meetings
again,
but
before
we
get
started.
I
would
like
to
express
our
appreciation
to
the
financial
markets
special
Industry
Group
that
we
fall
under
and
the
hyperledger
foundation
for
their
ongoing
support
and
making
this
meeting
possible.
So
with
that,
let's
just
go
ahead
and
Dive
Right
In.
A
Okay,
as
always,
please
note
that
this
meeting
is
being
recorded.
I
think
you
guys
heard
the
announcement
a
couple
seconds
ago
and
is
Under
the
Umbrella
of
the
hyperledger
foundation.
So
we
ask
that
everyone
abide
by
the
antitrust
policy
and
code
of
conduct.
The
antitrust
policy
states
that
we
avoid
discussions
of
company,
specific
pricing
products
and
projects.
We
don't
make
negative
remarks
about
other
companies
or
products,
and
the
code
of
conduct
means
that
we
treat
each
other
with
respect,
never
discriminate
and
communicate
constructively.
A
We
fully
support
hyperledger's
policy
of
openness,
equity
and
inclusion
and
for
new
participants.
We
welcome
you
and,
if
there's
anything
you
you
would
like
to
to
say
or
introduce
yourself.
Please
do
so
in
the
chat.
If
there's
anything
of
special
interest,
you'd
like
to
discuss
again
mention
that
in
the
chat,
the
chat
we
like
to
keep
these
meetings
as
open
and
as
interactive
as
possible.
A
So
here's
our
agenda
for
today,
some
of
you
that
joined
early
I
I,
think
you
probably
heard
that
2022
was
a
tumultuous
and
challenging
year
for
mortgage
and
I
I.
Don't
think
we
can
overstate
that
the
promise
of
crypto
mortgage
ended
abruptly
with
the
collapse
of
the
crypto
market
and
will
delve
into
that
area
today.
A
A
We
always
covered
this
slide
in
each
of
our
meetings,
and
this
is
to
reinforce
that
we're
all
on
the
same
blockchain
journey
and
that
we
may
be
at
different
points
along
that
path.
This
group
is
meant
to
help
everyone
on
their
blockchain
journey
to
demonstrate
the
feasibility
of
blockchain
Technology
through
mortgage
industry,
use
cases,
Define
potential
implementation
paths
for
the
mortgage
industry,
and
what
does
a
mortgage
company
need
to
implement
blockchain
and
discuss
some
of
the
challenges
and
shortcuts
in
implementing
blockchain.
A
Okay,
the
next
three
slides
I,
always
mention
briefly
for
those
people
that
are
new
to
the
group,
I'm
not
going
to
spend
a
whole
lot
of
time
on
them.
This
slide
provides
links
to
different
resources
for
the
Linux
Foundation.
The
second
one
from
the
bottom
is
the
wiki
link
to
this
mortgage
subgroup.
So
if
you're
new,
definitely
Avail
yourself
of
this
information,
if
you
do
want
to
access
these
resources,
you'll
need
to
create
an
lfid.
All
of
this
is
free,
and
it's
very
helpful.
A
A
Okay,
if
you
follow
the
crypto
markets
and
also
if
you've
been
participating
in
these
sessions,
I
always
used
to
preface
our
meetings
with
this
statement.
That
blockchain
is
not
crypto
the
turn
of
events
within
the
past
six
months
to
a
year
and
maybe
want
to
resurrect
this
so
I
just
wanted
to
start
off
with
that.
Blockchain
is
not
crypto.
Crypto
is
an
application
of
blockchain
Technology
you've
seen
the
volatility
we've
hinted
at
it.
What
happened?
What
happened
crypto?
A
A
Although
the
collapse
really
started
in
May,
2022
I
want
to
take
you
back
to
September
of
2017..
That's
when
a
young
Samuel
bankman
freed
started
Alameda
research
at
the
age
of
25.
you're,
going
to
hear
a
lot
about
Alameda
research.
It
was
a
quantitative,
Trading
Company
and
it
found
its
initial
success.
A
Ftt
that
allowed
customers
to
trade
on
FTX
at
a
discount.
A
couple
things
to
note
this
will
come
back
later
on
as
well.
Ftx
would
eventually
operate
through
a
network
of
130
Affiliated
entities,
also
SPF
still
own
91
of
Alameda
research.
Although
svf
was
adamant
that
Alameda
did
not
have
any
special
privileges
at
FTX.
So
keep
keep
those
two
items
in
mind.
We're
going
to
revisit
those
in
in
the
following
slides.
A
Excuse
me:
Terra
network
blockchain,
blockchain
based
project
developed
by
Terra
labs
in
South,
Korea
Kara
was
a
stable
coin,
a
coin
designed
to
hold
its
value
at
one
dollar,
based
on
a
pseudo
Arbitrage
system
and
Community
faith
in
the
Terra
ecosystem
that
it
inhabited
and
if
you
guys,
think
I'm
reading
that
from
something
you're
absolutely
right,
so
just
full
disclosure,
because
it
some
of
this
information,
is
going
to
get
pretty
complex.
So,
instead
of
relying
on
a
reserve
of
assets
to
maintain
their
Peg
as
usdc
and
usdt
do
Tara
is
an
algorithmic
stabilized
coin.
A
So,
regardless
of
the
market
price
of
either
token
at
the
time,
this
is
important
to
note
because
it
means
if
demand
for
Terror
arises
and
its
price
rises
above
a
dollar
Luna
holders
can
Bank
a
risk-free
profit
by
swapping
a
dollar
of
Luna
to
create
one
Tera
token,
and
there
were
some
people
that
were
doing
this,
and
this
is
due
to
the
rise
in
demand.
In
this
example.
A
However,
a
weakness
in
the
algorithmic
stablecoin
is,
if
there's
a
lot
of
sellers,
so
a
lot
of
downward
demand
of
both
Tara
and
Luna.
The
next
price
for
Luna
will
logically
go
lower,
despite
the
supply
balancing
smart
contracts,
in
other
words
and
I,
had
to
simplify
it
for
me
to
be
able
to
understand
it,
in
other
words,
the
velocity
and
force
with
which
terror
is
declining,
overwhelms
the
ability
of
the
smart
contract
algorithm
to
compensate
and
rebalance
and
in
May
of
2022.
This
is
exactly
what
happened,
so
let
me
pause
there.
A
I
I
know
we
have
some
people
on
this
call
that
are
pretty
familiar
with
cryptos.
That
may
even
have
been
part
of
some
of
these
exchanges.
So
if
there
are
any
questions,
any
clarifications,
if
I
misstated
anything,
please
feel
free
to
to
interject
it
and
add
to
this
conversation,
because
I
I'm
by
no
means
the
expert
in
all
of
this.
So
let
me
just
pause
there
and
see
if
there's
any
comments.
A
A
What
began
with
two
large
withdrawals
from
the
the
decentralized
exchange
per
Finance
totaling.
Around
250
million
dollars
became
a
torrent
in
the
next
couple
days
on
May
by
May
7th
over
2
billion
dollars
worth
of
tarot
was
on
stake
or
taken
off
the
anchor
protocol
and
hundreds
of
millions
of
dollars
were
being
quickly
liquidated.
A
So
that's
what
they're
saying
this
George
Soros
type
of
attack
on
the
terror
and
Luna
exchange
was
but
regardless
of
its
Genesis,
the
huge
sell-offs
brought
the
price
of
Terror
down
significant
and,
as
a
result,
crypto
hedge
fund,
three
arrows
collapse,
and
through
that
contagion
there
were
several
other
crypto
banks
that
collapsed.
The
Voyager
was
one
Celsius
and
block
five.
A
A
As
a
result
of
these
events,
companies
began
to
take
a
much
closer
look
at
crypto
companies
in
general
as
a
part
of
the
increase
scrutiny
coin
desk,
one
of
the
crypto
companies
that
were
out
there
and
they
have
their
website.
They
do
trading.
They
obtained
a
copy
of
alameda's
balance
sheet
and
noted
that
there
was
a
large
amount
of
ftt
and
that
ftx's
ftt
assets
were
being
loaned
to
Alameda
on
November,
2nd
coindesk
published
a
report
questioning
the
Financial
Health
of
both
FTX
and
Alameda.
A
At
that
point,
Chang
Zao,
I,
I'm
sure
I'm
mispronouncing
is
wrong.
The
billionaire
founder
of
a
rival
exchange
binance
said
that
he
was
going
to
dump
all
of
his
ftt
tokens.
So
as
a
result,
customers
on
the
different
exchanges
were
panicking
and
they
started
yanking
their
money
causing.
It
was
just
a
good
old-fashioned,
Bank
Run
so
strapped
for
cash.
Ftx
agreed
to
sell
itself
to
finance,
but
binance
quickly
changed
its
mind
as
issues
arose
and
their
due
diligence,
so
fds
almost
rescued.
A
A
Outside
analysts
said
that
they
suspected
that
477
million
dollars
was
stolen
from
FTX
in
that
alleged
hack
and
recall
from
the
previous
slide,
where
SPF
was
adamant
that
Alameda
received
no
special
treatment
from
FTX,
so
that
clearly
wasn't
the
case
and
in
bankruptcy.
Regulators
have
found-
and
this
is
just
coming
out
in
the
news-
almost
on
a
daily
basis-
that
there
were
back
doors
that
allowed
the
transfer
of
funds
from
FTX
to
Alameda
and
I
mentioned
that
at
the
beginning
of
this
call
that
and
I
just
saw
a
great
headline.
A
A
So
let
me
pause
there
and
see
if
there
are
any
questions
or
if
anyone
wants
to
add
any
commentary
before
we
dive
into
the
next
item.
You're,
probably
thinking
what
does
this
have
to
do
with
the
collapse
of
what
does
the
collapse
of
crypto
have
to
do
with
mortgages?
Remember
I'd
mentioned
that
FTX
had
130
130
affiliate
companies
with
a
major
exchange
and
trading
firm
under
its
umbrella
loans
to
and
from
players
and
various
tokens
with
Market
values
in
the
billions
of
dollars.
A
Ftx's
tentacles
extended
widely
across
the
financial
services
industry,
including
the
mortgage
industry.
One
connection
that
I
want
to
call
out
is
silver
gay
capital.
As
an
indication
of
the
importance
of
this
relationship.
Spf
even
said-
and
this
is
a
direct
quote-
Life
as
a
crypto
firm-
can
be
divided
into
before
silvergate
and
after
silvergate,
okay.
A
So
what
is
silvergate
capital
silvergate
was
one
of
the
first
Banks
to
work
with
crypto
clients,
branding
itself
as
the
leading
financial
institution
in
the
digital
assets
based
that
company
rode
the
crypto
boom
to
significant
Heights,
with
its
stock
gaining
over
one
thousand
seven
hundred
percent
from
its
initial
offering
of
12..
In
2019
to
a
peak
in
2021
of
220
dollars
and
that's
a
significant
growth
and
they
were
their
timing,
was
really
fantastic.
A
Unfortunately,
the
the
collapse
of
of
silvergate
Capitals
top
client
FTX
led
to
8.1
billion
dollars
of
withdrawals
near
the
end
of
last
year,
so
other
examples
of
ftx's
reach
include
some
of
the
following
companies.
They
I
mentioned
block
fi
that
crypto
lender.
They
got
a
line
of
credit
from
FTX
in
2022
Genesis,
Global
Capital,
which
had
loans
outstanding
to
Alameda,
and
they
were
trying
to
raise
Capital.
Excuse
me
trying
to
raise
cash
at
the
end
of
22
as
well.
Some
of
the
other
companies
that
were
involved
in
this
singapore-based
3ac.
A
Okay,
so
a
I
use
the
term
crypto
lenders
to
describe
block
five.
Let
me
delve
down
into
that
a
little
bit.
A
crypto
back
loan
uses
digital
assets
as
collateral
comparable
to
using
physical
assets.
Like
your
house
for
a
mortgage,
however,
one
thing
to
keep
in
mind
is
crypto
is
not
a
legal
tender
issued
by
government.
Therefore,
it
doesn't
meet
the
good
funds
standard
for
disbursement
and
other
closing
related
fees
and
many
title.
Insurance
and
settlements
providers
do
not
accept
funds
in
crypto.
A
So,
although
a
consumer
may
not
use
crypto
directly
to
buy
or
pay
for
a
home,
a
consumer
can
use
crypto
as
a
collateral
for
a
loan
or
mortgage,
and
some
of
the
companies
that
we're
offering
crypto
mortgages
either
on
the
slide.
Milo
usdc.homes
figure
lead
end
they're,
also
a
slew
of
other
crypto
lenders
that
have
either
collapsed,
gone
out
of
business
that
aren't
on
this
slide,
and
that
includes
salt
I
mentioned
block
fi
the
during
bankruptcy
nexo
We
Trust,
spectrocoin,
Unchained
Capital.
A
Those
are
just
some
of
the
ones
I've
identified
in
in
my
work
and
doing
research
on
this
topic.
I'm
sure
there
are
a
bunch
of
other
companies
that
have
either
stopped
doing
crypto
mortgages
or
are
significantly
winding
down
that
that
product
okay.
So
let's
go
on
to
what
does
this
mean
for
mortgages
in
crypto's?
A
A
So
they're
essentially
saying
they're
they're
still
looking
into
the
situation
and
they
haven't
finalized
any
regulation.
Yet
a
second
bullet
out
of
that
statement,
issuing
or
holding
as
principal
crypto
assets
that
are
issued,
stored
or
transferred
on
an
open,
public
and
or
decentralized
network
or
similar
system
is
highly
likely
to
be
inconsistent
with
safe
and
sound
banking
practices.
So
that's
what
the
FDIC
is
saying
about:
crypto
activity,
it's
not
consistent
with
safe
and
sound
banking
practices.
A
Last
bullet
for
this
FDIC
supervised
institutions
that
intend
to
engage
in
or
that
are
currently
engaged
in
any
activities
involving
or
related
to
crypto
assets
are
reminded
that
they
are
requested
to
notify
the
FDIC.
So
this
reinforces
what
the
Federal
Reserve
is
saying.
If
you're
going
to
be
doing
anything
around
crypto,
you
better
be
telling
the
appropriate
regulatory
bodies,
so
I
I
know
that
there
are
other
regulatory
bodies
taking
a
look
at
this.
Some
of
the
people
on
this
call
may
know
about
that.
A
So,
if
you
do
please
share
with
the
rest
of
the
team
or
if
you
guys
have
any
commentary
on
this
I
mean
please
let
us
know
so.
The
last
item
that
I
wanted
to
mention
on
this
is-
and
this
is
a
conversation
that
I
James
and
Angel
and
I've
been
having
with
other
people
on
crypto
and
blockchain,
is,
although
crypto
is
facing
a
collapse
and
may
not
be
entirely
appropriate
for
the
mortgage
industry,
that
doesn't
mean
that
the
underlying
technology
is
bad.
A
A
Proponents
of
web3
expect
that,
although
there's
going
to
be
a
2020
or
there
was
a
crypto
winter,
that
this
winter
will
pave
the
way
for
more
Innovative
uses
of
blockchain
rather
than
speculative
uses
with
crypto,
this
can
still
lead
to
things
like
blockchain
consortiums
in
figure
is
still
doing
fantastic,
I
believe
within
blockchain
let-in.
They
were
on
the
previous
slide.
They
say
that
they're
still
doing
crypto
related
mortgages.
They
are
I,
believe
much
more
conservative
than
some
of
the
other
companies
out
there.
A
So
they're
still
saying
positive
things
about
blockchain
positive
things
about
Innovation,
and
then
there
are
other
techno
technologies
that,
in
tandem
with
blockchain
AI
machine
learning,
I
think
those
things
are
definitely
going
to
help
with
innovation
in
the
mortgage
industry
and
then
the
last
item
that
I
wanted
to
close
with
is
chat.
Gpt
I
mean
chat.
A
Jbt
is
made
possible
because
it
has
access
to
a
slew
of
information,
public
information
and
by
putting
information
on
the
blockchain
it
can
accelerate
and
help
tools
like
chat
GPT,
so
I
want
to
just
throw
that
out.
There
make
sure
that,
as
you
take
a
look
at
blockchain
as
you
discuss
blockchain
that
you're
not
throwing
the
baby
out
with
the
bath
water
I
know
that
that's
probably
tried
to
say,
but
blockchain
is
not
crypto
block.
Crypto
is
an
application
of
the
underlying
technology.
A
B
Absolutely
Marvin,
thanks
for
covering
that
that's
a
lot
of
detailed
information
and
I
know
through
your
research.
I
wound
up
learning
a
lot
from
it
as
well,
and
you
know
the
whole
theme
of
today
you
know
blockchain
is
not
crypto
I!
Think
you
and
I
have
had
that
conversation
with
you
know
more
people
over
the
last
year
than
we
care
to
admit.
Every
time
you
say
oh
yeah,
you're
involved
in
blockchain.
The
first
thing
they
say
is:
oh
you're
involved
in
crypto
yeah
yeah
yeah.
B
Moving
over
to
the
next
slide,
so
Sunwest
mortgage,
a
loan
originator
and
servicer
they
unveiled
the
latest
version
of
their
proprietary
artificial
intelligence
platform.
Called
Morgan
Morgan
enables
the
lender
to
convert
pre-approved
property,
specific
Home
Loans
into
tradable
non-fungible
tokens
so
again,
an
example
of
blockchain
being
utilized
for
things
other
than
crypto.
The
nft
is
property
agnostic,
it's
backed
by
real
dollars
and
guaranteed
by
Sun
West,
which
is
one
of
the
largest
non-bank
mortgage
companies
in
the
industry.
B
B
So
if
the
trade
value
is
accepted
on
the
nft
by
the
seller
and
property
owner,
then
the
transaction
gets
openly
recorded
on
the
blockchain
to
ensure
that
the
nft
is
traded
as
agreed.
The
nft
seller
has
two
choices.
They
make
close
the
transaction
and
transfer
the
nft
over
to
the
buyer,
or
if
they
choose
not
to
honor
the
trade,
they
can
forfeit
their
earnest
money
deposit.
B
During
their
launch
announcement
last
year,
Sunwest
stated
that
the
result
is
a
hundred
percent
success
rate
in
property
underwritten
and
guaranteed
true
approval
loans,
so
interesting
to
see
what
Sunwest
is
doing.
You
know,
there's
been
ups
and
downs
with
the
nft
market
as
well
as
we've
seen
in
the
the
crypto
market,
so
be
interesting
to
see
where
this
product
and
process
goes
as
we
move
into
2023.
B
You
know
the
next
one.
We've
talked
about
figure
quite
a
bit
over
the
last
year.
This
article
kind
of
demonstrates
a
little
bit
about
how
quick
things
can
change
in
the
industry.
You
know
Marvin
earlier
mentioned
figure
as
well.
They
are
doing
quite
well,
but
you
know
there's
some
ups
and
downs
so
for
figure
in
the
very
early
part
of
December,
their
apparent
company.
The
figure
acquisition
Corp
signed
a
non-biting
letter
of
intent
with
a
warehouse.
C
B
Unfortunately,
by
December
16th,
while
reviewing
the
stockholder
vote,
the
decision
was
made
to
dissolve
the
the
SPAC
so
Mike
Cagney
who's,
the
CEO
of
figure
and
he's
also
chairman
of
the
the
s-pac
stated,
while
we're
disappointed
our
decision
reflected
the
state
of
the
capital
markets.
So
a
combination
of
both
Rising
Redemption
rates
and
sharp
interest
rates
increases
really
just
made
it
unfavorable
environment
in
order
for
them
to
complete
the
merger.
B
But
one
of
the
things
Cagney
went
on
to
say
is
that
they
continue
to
to
plan
on
bringing
blockchain
wins
to
the
industry
throughout
2023
next
article
that
we've
got
up.
You
know
over
the
last
year,
plus
that
we've
been
doing
these
presentations.
We've
been
trying
to
bring
you
articles
podcasts,
also
trying
to
interject
some
videos
in
there
as
well.
So
is
the
mortgage
industry
ready
for
Mass
blockchain
adoption.
This
is
both
a
combination
of
an
article
as
well
as
the
full
video.
B
It's
really
an
interview
with
four
different
Executives,
so
pavon
argoal
who's,
the
CEO
of
Sunwest
that
we
mentioned
earlier
AJ
Poland,
the
chief
Revenue
officer
at
the
mortgage
office,
Christy
Connolly,
who's,
the
EVP
evaluation,
modernization
at
class
valuation
and
Josh
Lear
who's,
the
senior
director
of
partnership
and
Industry
technology.
A
total
expert,
the
the
interesting
point
out
of
this
article.
When
you
read
it,
it
really
ties
to
today's
topic.
B
The
ultimately
the
you
know.
The
the
best
case
scenario
is
an
over-the-counter
system
in
real
estate,
where
individual
buyers
and
sellers
are
connected
to
each
other
without
a
central
Authority.
It
really
simplifies
a
transaction
for
both
parties,
and
it
makes
it
really
an
ideal
application
for
blockchain
as
it'll
create
massive
efficiencies
within
the
market.
They
also
talked,
as
we've
talked
in
you
know,
previous
articles
about
title
and
how
the
title
process
blockchain
can
be
used
to
ensure
that
we
have
an
immutable
record
on
the
property
for
whenever
it
changes
hands.
B
So
in
just
a
reminder
for
the
hyper
Ledger
Wiki
site
for
the
mortgage
industry
subgroup,
we
do
have
available
both
this
recording
once
it's
ready
as
well
as
all
of
other
previous
meetings
down
the
left
hand
side.
All
of
the
articles
that
we
talk
about
are
available
on
the
right
hand,
side
or
are
available
on
the
previous
articles
page.
You
know,
I've
included
some
other
articles
under
industry
research
for
interest,
for
example,
there's
the
coin
desk
link
that
you
see
there
on
the
right.
B
It's
really
a
link
to
a
video
from
coindesktv
talking
about
JPMorgan
CEO,
Jamie,
Jamie,
Diamond
attending
the
institute
for
international
finance
event
and
again,
you
know
calling
crypto
tokens
decentralized,
ponzis,
which
he's
been.
You
know
touting
for
the
last
couple
years,
even
as
he
had
he
was
praising
aspects
of
blockchain
Technology.
He
did
go
on
to
say
you
know
blockchain.
On
the
other
hand
at
least
has
certain
real
aspects
and
Diamond
allowed
neuting
JP
Morgan's
Onyx
platform
that
we
talked
about
last
year
that
they're
utilizing
for
their
wholesale
payment
transactions.
B
This
video,
too,
is
only
about
17
minutes
long
and
they
do
cover
a
variety
of
other
topics
over
the
last
you
know,
year
plus
since
2021,
when
we
launched
this
group,
we've
actually
curated
about
150
different
articles.
So
take
a
look
at
the
wiki
site.
Sign
up.
As
you
know,
Marvin
walked
you
through
it
earlier,
we'll
actually
drop
into
the
chat,
a
link
to
the
the
wiki
site
as
well.
B
But
if
you
don't
find
the
information
that
you're
looking
for
there
feel
free
to
reach
out
directly
to
us
and
there
you
know,
potentially
as
information
that
we've
got
curated,
that
you
can
be
using
for
case
studies,
strategic
planning,
things
of
that
nature.
Marvin
next
slide
all
right
future
agenda
topics.
You
know
we'd
like
to
solicit
feedback
from
the
group
on
any
future
agenda
topics.
Please
reach
out
to
Marvin
and
I.
B
You
know
whether
it's
regulatory
related
as
Marvin
mentioned
we
know,
Fannie,
Mae
and
Freddie
Mac
have
been
taking
a
look
at
a
couple
of
different
things:
business
related
technical
related.
If
you're
interested
in
doing
a
demo,
you
know
sharing
information
and
knowledge
is
what
this
community
is
really
all
about.
B
Yes,
so
Maria.
That
is
exactly
what
my
understanding
is
at
this
time
as
of
right
now,
Fannie,
Freddie
and
Jenny
are
not
approving
on
crypto
or
nft
loans.
There
is
discussion
going
on
with
it
at
Fannie
and
Freddie.
They
are.
They
do
have
some
focus
groups,
but
we
have
not
heard
any
word
yet
from
them
as
to
the
future
of
them
being
able
to
accept
it.
You
know
I
think
once
we,
you
know,
have
a
crypto
token.
B
A
Okay,
one
item
I
did
want
to
mention
as
well.
There
was
just
a
recent
article
that
came
out
this
morning
talking
about
how
Goldman
Stacks
just
went,
live
with
a
tokenization
platform
called
gsd-a-p-t-m
and
it
was
deployed
on
the
Canton
blockchain.
So
their
goal
with
this
platform
was
improving.
The
velocity
of
transactions,
so
I
I
think
for
Goldman
to
go,
live
with
a
blockchain
platform,
really
does
speak
volumes,
I
I
think
they're,
a
believer
in
this
yeah.
B
B
D
Oh
yes,
this
is
Mike
LeBaron,
hey,
Mike,
hey
I'm
kind
of
a
little
drink
from
the
fire
hose
here,
because
I
haven't
dug
much
into
into
blockchain
in
the
mortgage
space.
Yet
so
I
want
to
go.
Take
a
look,
but
the
the
articles
that
you
talked
about
here,
your
specific
use
cases
the
details
are
out
on
the
the
wiki.
If
I
check
them
out
there,
then
I
can.
B
Exactly
so,
in
fact,
Marvin
can
you
back
up
a
slide
or
two
for
us
to
that
Wiki
sign
so
over
on
the
right
hand,
side,
Mike,
you've,
we've
actually
got
two
sets
of
things:
I've
got
the
global
mortgage
industry
research,
so
I've
got
articles
and
then
I've
got
research
papers
that
we
put
down
at
the
bottom.
I
keep
about
two
to
three
months
worth
over.
On
that
right
hand,
side
the
most
recent
stuff
that
we've
been
covering.
B
But
then,
if
you
look
at
the
menu
on
the
very
left
hand
side,
the
third
link
from
the
very
bottom
says
previous
mortgage
blockchain,
all
the
articles
that
we've
covered
in
previous
presentations.
You
know
once
they're
about
three
four
months
old
I
move
them
over
to
that
page,
so
you'll
be
able
to
access
them
there
as
well
directly,
above
that
there
are
recordings
and
meeting
notes
from
all
the
previous
presentations
that
we've
been
doing
since
2021.
B
So
if
you
want
to
see
some
of
the
demos,
some
of
the
groups
that
we've
had
come
to
the
table
to
be
able
to
present
and
then,
if
you're
looking
for
additional
mic,
as
I
said,
you
know,
reach
out
over
the
last
year
and
a
half
I
I've
got
a
library
of
probably
a
150
different
articles,
research,
company
information,
you
know
different
projects
that
are
being
worked
on,
consortiums
that
are
growing
things
of
that
nature,
be
happy
to.
You
know,
share
any
information
that
you're
looking
for.
A
E
Her
okay,
hi
I,
don't
have
a
question.
I
have
many
questions
as
usual,
but
I
just
want
to
wish
everybody
a
Happy,
New,
Year
I'm,
very
excited
about
you,
know,
2023,
and
what
our
community
has
been
working
on
and
I
want
to.
Thank
particularly
the
financial
markets,
mortgage
industry,
special
interest
group.
It's
always
a
mouthful,
the
chairs
and
all
of
those
of
you
that
have
been
contributing
and
participating.
I'm
really
looking
forward
to
you
know,
checking
in
every
once
in
a
while
I'm
available,
as
is
the
rest
of
Staff.