— Real Estate dApp Overview and Functionality
Home.
Place surrounded by the people you love, and recognized as a safe place to express your true self, but what if this wasn’t the case. What if the understanding of “home” was nonexistent and replaced with senses of fear, distress, and anxiety.
This is the reality many families in third-world countries are faced with, resulting from poor/corrupt systems of government and their abuse of power towards citizens land ownership rights.
Implementing systems of Technology to regulate the distribution of land ownership, especially in developing countries would create increased security in land owner’s rights, and would totally omit government corruption in changes of ownership regulations as information would now be immutable over the .
Understanding The Real Estate Marketplace
Implications of technology are not limited to creating efficiencies in developing countries. As a result of the growing market within various first-world-countries, investment opportunities have been very low, through the continuing increased cost for a property.
Traditionally, you have to be extremely wealthy to go ahead and invest in new property. And for most people, it’s simply out of reach. Utilizing systems of technology, we can reinvent our current perspective on the marketplace and have the ability to buy fractional ownership. So investors from every tax bracket can invest and participate in deals.
But Why Blockchain?
technology promises unparalleled security, transparency, and efficiency. If implemented in systems of property investments, could substantially reduce the risk of fraudulent transfers of . All of which provides a transparent and cryptographically-secured record of transfers to have ever been recorded.
Even the property search and identification process can be streamlined through the implementation of unified -based listing systems, replacing the patchwork of multiple listing services.
Most promising, however, is technology’s ability to revolutionize investing by democratizing it, primarily through the elimination of intermediaries. Combined with new models of flat ownership that could potentially span the global market, decentralized payment projects could be used to facilitate low-cost, high-speed transnational micropayments which would distribute the payment among all stakeholders concerned.
Flat Ownership — …
Smart Contracts — A system fostering transactions on the network publically displays lines of code through the parameters of given inputs and outputs sets.
Within the context of payments, introduction of smart contracts into ledgers and transactions has clear potential in streamlining various Real Estate processes, such as releasing apartment ownership, or rental documents upon completion of a transfer. The benefits of this aspect of use cases, when applied to , are already being recognized by a variety of private institutions and governmental bodies.
Companies working in the space:
- ) Property Club — Real estate platform that uses blockchain to refine the way people market, search for, buy, sell and invest in properties. Using smart contracts, the company conducts transactions digitally utilizing various cryptocurrencies. (Including their own)
- ) Meridio — Land Ownership / Real Estate platform that allows people to publically list and sell digital shares of their . The company’s platform connects individual and corporate investors with property owners who are looking to liquidate portions of their ownership.
- )Slice — Gives smaller investors a chance to invest in commercial . Like Meridio, owners can gain access to a large pool of international investors through the company’s technology.
Owners of commercial will no longer have to sit on their hands while they wait for another multi-millionaire to buy their property from them. Instead, a huge group of smaller investors could combine their power and purchase the property.
Projecting the Future of Real Estate and Land Ownership
Recognizing the large gap and inefficiencies within the industry is one thing.
Taking action is the other.
Taking a stand against current conventional methods of land ownership, through the use of technology we have the ability to totally redefine the way in which we view the marketplace towards one being way more approachable.
Utilizing smart contracts, I had developed a Real Estate and Land Ownership decentralized application consisting of the ability to go ahead and split portions of the property to allow for the ability to purchase and obtain fractional ownership.
This addresses the problem pertaining to the currently limited investment opportunities within the market, making the ability to purchase portions of property more affordable and done over a secure and immutable network.
Published at Sat, 23 Feb 2019 05:17:18 +0000
