Because blockchain technology was originally created for Bitcoin, a virtual currency that’s not backed by any central bank or government, extensive audit trails were baked into its DNA... For real estate transactions, this means less opportunity to commit fraud by presenting falsified or forged records.Read More
The internet made it possible for individuals to transfer information, quickly, cheaply and paperlessly without obtrusive intermediaries. Similarly, blockchain technology offers the same advantages for transferring VALUE.
The Blockchain and Bitcoin will transform real estate in four ways:
Disintermediation, Fraud prevention, Money 2.0, and Smart contracts.
In an industry that still uses a lot of paper, a blockchain ledger could provide commercial real estate with improved efficiency and security in how records are transmitted, recorded and stored. Advocates believe that the industry will eventually adopt blockchain technologies for essential real estate functions such as payment, escrow, and title.Read More
Real estate ownership rights transfer for any reasons (sale, heritage, etc.) can be triggered by the release of will regarding a particular property. Smart contracts’ application with real estate eliminates the debate and human politics when it comes to heritage distribution, for example.Read More
A 117 bitcoin transaction worth 290,000DKK (approx. 436,600USD) was recently processed by Coinify merchant services to facilitate the purchase of a property in the town of Mørkøv in the north-west part of Zealand. The Just-Sold group real estate agency signed up for a Coinify merchant account upon the buyer’s request, to be able to accept the blockchain payment.Read More
In this article, we discuss how real estate transactions could be consummated with far greater efficiency and certainty using blockchain technology.
Unlike the financial services industry, which has long embraced technology as a means to generate better bottom line profits (think algorithmic trading), real estate is an industry that has remained largely unchanged for over half a century (or several centuries in certain respects).Read More
Three advantages of blockchain for real estate:
Real estate is one of the many industries that are expected to make great use of blockchain. Nowadays three advantages of blockchain for the real estate industry are spotted: Total transparencyRead More
This post will explore the 2009 subprime mortgage crisis and the hypothetical impact a blockchain may have had with regards to the proliferation of toxic synthetic Mortgage Backed Securities (MBS) and Collateralized Debt Obligations (CDOs). Hindsight is always 20/20 so it is not the intent of this post to say blockchain would have been the cure and stopped it from happening...Read More
Imagine a world where specific performance of contracts is no longer a cause of action because the contracts themselves automatically execute the agreement of the parties. Or where escrow agents are replaced by rule- and software-driven technology. Imagine instantaneous recording of property records, easements and deeds...Read More
Bitcoin’s built-in multisignature feature can simultaneously protect landlords and tenants while righting the grossly imbalanced power dynamic between the two. With multisig you could actually get your security deposit back in-full without go...Read More
While blockchain technology provides unique identifiers for records and devices, it is not designed to enable identity assurance. Machine-mediated digital identities pose three ongoing evidentiary challenges that are not solved by blockchain technology... Therefore, prevailing methods...Read More
According to research, more than one in three property sales fall through. Of those, nearly 30% of sale fall throughs can be attributed to slow sales progression and conveyancing issues. Could blockchain technology and conveyancing be the perfect solution of is there something far more simple...Read More
In what very well could be a first for the Philadelphia marketplace, four condos in Manayunk’s Falcon Condominium development are being marketed specifically to Bitcoin buyers.The property is being marketed to entrepreneurs and tech-types who are looking for an alternative to renting a co-working space, and the tight confines of Center City...Read More
“We’ve reached the critical mass now, where we have enough real estate industry decision makers who will use Bitcoin technology in their deals, applications, and start-ups. Unlike the banking sector, real estate doesn’t face the regulatory hurdles to use Bitcoin. The technology is now mature enough. Everything is in place for adoption.”...Read More
Blockchain will enable every property, everywhere, to have a corresponding digital address that contains occupancy, finance, legal, building performance, and physical attributes that conveys perpetually and maintains all historical transactions. Additionally, the data will be immediately available online and correlatable across all properties...Read More
"By putting... property titles on the blockchain, governments will enable citizens to digitally conduct transactions without lawyers, notaries or queuing at government offices. Once on the blockchain, registered ownership of a home can be transferred from one person to another without the need for a government...Read More
Blockchain isn’t just for banks. The real estate industry also sees promise in the technology for online distributed ledgers... “It’s ripe for change,” Mr. Appley said. He is exploring ways Shorenstein and others in the industry might take advantage of blockchain to reconcile and store data, speed up deals and make the buy-sell process more efficient...Read More
We are used to the way computer data can always be copied, edited, censored, and deleted too, depending on your permission settings. The blockchain changes those preconceptions drastically, allowing the creation of the first digital assets... Here are ten very innovative, and likely disruptive, companies today that use the blockchain outside the banking and financial industry....Read More
As part of the Digital Currency Council’s Continuing Education partnership with Inside Bitcoins, DCC interviewed thought leaders who will be speaking at the Inside Bitcoins Conference in San Diego on December 14-16, 2015. Today, we share an interview with Ragnar Lifthrasir the President of the International Bitcoin Real Estate Association...Read More