Category: Blockchain

Real Estate PropTech and the Blockchain

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2024 Real Estate Blockchain Update

2024 Real Estate Blockchain Update

The transformation of the Real Estate Industry with Blockchain initiatives continues to be an active sector. The growth of DeFi in Financing  has added to the demand for blockchain solutions involving Real Estate assets and transactions.

From the Tokenization of Real Estate assets to Smart Contracts that automate agreements, the technology of blockchain is finding a home with innovative platforms such as Roofstock, HoneyBricks and DIBSCaptial offering an array of real estate solutions.

 

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2022 Realty Blockchain Update

Realty Central

The year has started out with splashy headlines about Real Estate Cryptocurrency Sales. The real exciting news is the progress being made in the Realty Industry in the utilization and use of Blockchain and Distributed Ledgers in settling transactions.

The successful sale of a Florida home for $653,163 worth of Etherum used the Propy Real Estate platform to manage the transaction and mint the NFT on a blockchain system. One of the goals of creating a non-fungible token for Real Estate is to give more flexibility and liquidity to the asset by having a digital representation that can be easily traded, fractionalized, and verified. In addition, the ability to create smart contracts can facilitate leasing and sales agreements while reducing overall transaction costs.

Here at RealtyCentral.com we are eagerly watching this transformation of the industry and the cost benefits it will bring to businesses and consumers alike.

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Trading and Lending on the Blockchain

Turning Real Estate into a digital asset that is easily traded is the dream of many with a recent venture of Intercontinental Exchange called Bakkt bringing that dream a step closer to reality.  Bakkt is making great strides towards securitizing tokens and bringing institutional financial exchange power to the cryptocurrency market. With lofty goals of offering a federally regulated market for bitcoin, this is a player to watch.

Depository Trust and Clearing Corporation in New York City, a company that operates as a third party in the business of securities trading, has plans to begin recording $11 trillion worth of credit default swaps in late 2018.

Fund manager Mark Yusko, chief executive and chief investment officer of Morgan Creek Capital Management, recently announced his firm’s partnership with Bitwise, a manager that offers cryptocurrency indexes and index funds, to launch the Digital Asset Index Fund. The fund’s minimum investment is $50,000. It tracks a new index: the Morgan Creek Bitwise Digital Asset Index (MCBDAI).

Decentralized Margin Trading and Lending platforms utilizing blockchain tech are starting to make entrances into the market with offerings from the bZx and MakerDAO communities already generating buzz.

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Smart Contracts on the Distributed Ledger

House

Enabling real estate related smart contracts utilizing a blockchain will change the nature of escrow, contracts, title, deeds and other property records lessening the reliance on traditional closing services and hopefully provide needed monetary relief at the closing table.  A daunting task indeed. Thankfully, the challenge has been taken up by several players in the emerging distributed ledger tech field with new entrants seeming to pop up every other week.

An interesting use case was featured in a recent story on BitcoinMagazine.com about a New York based company doing real estate commission splits utilizing the Zap.org smart contract platform. Baby steps, but promising.

Another exciting player in the realty blockchain business is PROPY with their offering of international properties being purchased and sold integrating blockchain tech to secure the transaction and facilitate cross-border payments.

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PropTech

 Exploring Proptech, Artificial Intelligence and Blockchain Technologies for Real Estate Applications.

How does AI and Blockchain apply to Real Estate you might ask?  After an in-depth look at the emerging technologies surrounding machine learning and distributed ledger solutions, the short answer is it has the potential to lower costs, shorten timeframes and streamline a market that has many built in inefficiencies.   From international transaction settlements to title issues, predictive and blockchain related services aim to revolutionize the process of buying and selling real estate to the advantage of businesses and consumers alike in an industry that has been historically protective of it’s entitled stakeholders.

An interesting Real Estate Blockchain service out of Switzerland called BrikBit is busy defining an ecosystem for Real Estate Digital Assets utilizing the Lisk Platform to enable Real Estate Projects to create their own blockchain as a BrikBit sidechain.   An upcoming October ICO for their BRIK token will help gauge the current market sentiment for this cutting edge tech.

On the leading edge of utilizing Artificial Intelligence for the Commercial Real Estate Industry is Skyline AI and its innovative group of Engineers and Data Science pros who are hard at work integrating traditional and alternative data sources to streamline the Investment Decision process with data driven objective insights.  Whew – didn’t think I would get all that out.  What a challenge.  

Helping to further the goal of Real Estate on the Blockchain, we give props to the International Blockchain Real Estate Association for their sponsored events and extensive resource of videos from prior conferences. Thanks IBREA.