Blockchain real estate brainstorm
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Levi T.Pro Member
Rental Property Investor · Tucson AZ / Nice FR / Washington DC · Member since 2016 · 1k+ posts · 1k+ votesWe are seeing a lot of hype around using blockchain on stuff that does not need it, but if those startups want to be hot and sexy, you need blockchain in the game to turn heads. ICOs are the new IPOs for all startups. There is a reckoning coming for all those altcoins that are launching with zero value as a business that backing it.
As for what blockchain will do for real estate, counties that adopt it can stop dealing with clouded titles as blockchain will let us insure the owner on record is the owner, once a property is recorded to the blockchain. It wont be hard for them to adopt, it's basically a centralized BC ran by the county. It will also mean faster transfer and recoding.
I only see 2 futures for crypto:
As Currency: It lets people move money freely, cheaper, and it also provides them an exit out of their countries currency without a stock broker. When it comes to the currency side of things, the rest of the world will come first before America as my country is not like Grease or Zimbabwe in that respect yet. This market won’t have a lot of players, we don’t need 1,000 crypto currencies, only 2-3 really. I think our currency players are already defined in this respect, they just need time to stabilize more.
As Technology: On the other side of things, people are issuing coins for startup capital, if they are successful then your coin is worth more, this is what’s driving the value of these coins., from there you can buy or sell it on a open exchange, or maybe you can trade it in for stock at some point if they make the leap to a publicly traded company (I'm speculating on that last bit). It allows everyday people to get in on public offering without having to be a millionaire, it also allows companies to stay private and avoid all the regulation and red tape. Hopefully the SEC does not stomp on that and cut us out of the ICO market. Lots of regulation is headed our way in 2018 for America.
Right now we are is massive speculation mode, people are tossing whatever they can get to stick to the ICO market. There will come a shakedown at some point, that’s when we will see which tech companies emerge as the next Amazon or Facebooks of the world.
My top picks are BTC and ETH for currency. ICO alts are XRP, POWR, TRX, and RED (Launching in a few days). I'll be HODLing those till the end of time. I'm hoping BTC gets segwit2x implemented. It cost to much now of days to transfer, and it's slow as mud. If BTC fails to fix that issue, it's done for as a currency coin.
177 Replies
- 8yJon Q.Investor · Berkeley, CA · Member since 2015 · 1k+ posts · 713 votesOP
List of Real estate startups utilizing blockchain technology:
Propy
Founder: Natalia Karayaneva
Summary: Real estate platform where you can buy property entirely online — and it's potentially a good outlet for quickly transferring bitcoin wealth into hard assets.
Ubitquity https://www.ubitquity.io/web/index.html Founder: Nathan D. Wosnack Summary: We offer a simple user experience for securely recording and tracking property with our Software-as-a-Service (SaaS) blockchain platform. We help e-recording companies, title companies, municipalities, and custom clients benefit from a clean record of ownership, thereby reducing future title search time, and increasing confidence/transparency. ATLANT https://atlant.io Founder: Julian Svirsky ATLANT is addressing two of the most pertinent problems in real estate with its decentralized blockchain platform: Tokenized Ownership and global P2P Rentals. Listing of real estate tokens representing shares in individual real estate assets and their liquid trading in a transparent and orderly market with price discovery. ShelterZoom ShelterZoom.comFounder: Amir Allen Alishahi
ShelterZoom has built an Ethereum-based offer and acceptance platform that went live Dec. 14. RealBlocks RealBlocks lets people invest in housing on its blockchain with fiat or digital currency (and starting in February 2018, its own tokens). It has completed seven deals so far. What others do you know of?Please list them in the comments below...
- 8yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
thats so far over my head that it could just as well be greek LOL were does roofstock play into this..
- Investor · Princeton, TX · Member since 2014 · 1k+ posts · 1k+ votes8y
@Jon Q. Your post seems like a quest to find a problem to claim to solve with a blockchain.
There is very little problem with spoofing in real estate. The more digital the system the more likely there will be a spoofing problem.
I doubt you are even an expert in blockchains. How much of a proof of work problem will your system have in a world of with quantum computers?
You need to understand any system worth using in real estate needs to hold up for decades not simply as long as the last digital fad.
- 8yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
@Account Closed since we have basically been registering deeds the same way for 500 years ..
It has been nice for title plants though to get everything digital instead of like back east were they still have to hire an abstractor to go into the courthouse to do a simple title search..
our title searchs here in Oregon are done in the phillipines for instance.
- Investor · Princeton, TX · Member since 2014 · 1k+ posts · 1k+ votes8y
@Jay Hinrichs Here it is simple. Everything is still filed at the courthouse but immediately available online. That is the best of both worlds.
- 8yLevi T.Pro MemberRental Property Investor · Tucson AZ / Nice FR / Washington DC · Member since 2016 · 1k+ posts · 1k+ votes
We are seeing a lot of hype around using blockchain on stuff that does not need it, but if those startups want to be hot and sexy, you need blockchain in the game to turn heads. ICOs are the new IPOs for all startups. There is a reckoning coming for all those altcoins that are launching with zero value as a business that backing it.
As for what blockchain will do for real estate, counties that adopt it can stop dealing with clouded titles as blockchain will let us insure the owner on record is the owner, once a property is recorded to the blockchain. It wont be hard for them to adopt, it's basically a centralized BC ran by the county. It will also mean faster transfer and recoding.
I only see 2 futures for crypto:
As Currency: It lets people move money freely, cheaper, and it also provides them an exit out of their countries currency without a stock broker. When it comes to the currency side of things, the rest of the world will come first before America as my country is not like Grease or Zimbabwe in that respect yet. This market won’t have a lot of players, we don’t need 1,000 crypto currencies, only 2-3 really. I think our currency players are already defined in this respect, they just need time to stabilize more.
As Technology: On the other side of things, people are issuing coins for startup capital, if they are successful then your coin is worth more, this is what’s driving the value of these coins., from there you can buy or sell it on a open exchange, or maybe you can trade it in for stock at some point if they make the leap to a publicly traded company (I'm speculating on that last bit). It allows everyday people to get in on public offering without having to be a millionaire, it also allows companies to stay private and avoid all the regulation and red tape. Hopefully the SEC does not stomp on that and cut us out of the ICO market. Lots of regulation is headed our way in 2018 for America.
Right now we are is massive speculation mode, people are tossing whatever they can get to stick to the ICO market. There will come a shakedown at some point, that’s when we will see which tech companies emerge as the next Amazon or Facebooks of the world.
My top picks are BTC and ETH for currency. ICO alts are XRP, POWR, TRX, and RED (Launching in a few days). I'll be HODLing those till the end of time. I'm hoping BTC gets segwit2x implemented. It cost to much now of days to transfer, and it's slow as mud. If BTC fails to fix that issue, it's done for as a currency coin.
- Investor · Cleveland, OH · Member since 2015 · 6k+ posts · 2k+ votes8y
Originally posted by @Jon Q.:
Professionals and fellow-investors,
I’m running a blockchain real estate brainstorming group...
Can you help me out with answering the following questions:
What are aspects to your job that you don’t like, specifically with regard to buying property, selling property, investing in property, managing property, or other?
Where do you believe a technology solution could be developed / would be most useful?
Jon, if you're spruiking for business here on BP, you need to be a paid-up Pro/Plus member!
I haven't reported this thread to the Moderators, but don't be surprised if someone does.
My point is: for your goals - you need the benefits that being a paid up Member will get you!
- Real Estate Agent · Virginia Beach, VA · Member since 2012 · 2k+ posts · 1k+ votes8y
@Levi T., Title issues are more complicated than just checking the correct owner's name through the years. I've had several issues in the last year alone where the owners had the right to sell, but found out they couldn't transfer access to the public road due to an important sentence being left out of a deed that started 2 owners previously, and are currently under claim with their title insurance to fix the issue. I also had one where the name on the deed was correct on the first paragraph, but someone mixed it up with the seller's name on the second. No one caught it at that settlement, so that deed had to be corrected and the correction recorded before moving forward. There are boundary issues, adverse possession, easements, etc. Not sure how blockchain would be able to help with many real-life title problems that hold up the sale of property.
- 8yLevi T.Pro MemberRental Property Investor · Tucson AZ / Nice FR / Washington DC · Member since 2016 · 1k+ posts · 1k+ votes
Originally posted by @Lynn McGeein:
@Levi T., Title issues are more complicated than just checking the correct owner's name through the years. I've had several issues in the last year alone where the owners had the right to sell, but found out they couldn't transfer access to the public road due to an important sentence being left out of a deed that started 2 owners previously, and are currently under claim with their title insurance to fix the issue. I also had one where the name on the deed was correct on the first paragraph, but someone mixed it up with the seller's name on the second. No one caught it at that settlement, so that deed had to be corrected and the correction recorded before moving forward. There are boundary issues, adverse possession, easements, etc. Not sure how blockchain would be able to help with many real-life title problems that hold up the sale of property.
We are not talking about the eleminatiom of title companies. I won’t get into the weeds with it, but with blockchain smart contract, you could have corrected the issues outlined, and recorded it yourself. It will streamline your job and remove waiting periods.
- 8yJon Q.Investor · Berkeley, CA · Member since 2015 · 1k+ posts · 713 votesOP
Originally posted by @Jay Hinrichs:
thats so far over my head that it could just as well be greek LOL were does roofstock play into this..
They don't! - 8yJon Q.Investor · Berkeley, CA · Member since 2015 · 1k+ posts · 713 votesOP
Originally posted by @Account Closed:
@Jon Q. Your post seems like a quest to find a problem to claim to solve with a blockchain.
There is very little problem with spoofing in real estate. The more digital the system the more likely there will be a spoofing problem.
I doubt you are even an expert in blockchains. How much of a proof of work problem will your system have in a world of with quantum computers?
You need to understand any system worth using in real estate needs to hold up for decades not simply as long as the last digital fad.
Thanks Michael. I don't know what you're talking about. First of all, I never said that I am an expert, though I do facilitate a real estate blockchain group and I've invested in real estate nationally for 17 years. Feel free to checkout my profile.
I understand. I appreciate your lesson ;-) , but i don't see it as a digital fad. For various reasons, it is only a matter of time that distributed ledger/blockchain tech makes it's way into real estate. Many lenders are already beginning to adopt distributed ledgers.
You can learn more here: https://www.americanbanker.com/news/could-blockchains-replace-banks-in-real-estate-lending
- 8yJon Q.Investor · Berkeley, CA · Member since 2015 · 1k+ posts · 713 votesOP
Originally posted by @Brent Coombs:
Originally posted by @Jon Q.:
Professionals and fellow-investors,
I’m running a blockchain real estate brainstorming group...
Can you help me out with answering the following questions:
What are aspects to your job that you don’t like, specifically with regard to buying property, selling property, investing in property, managing property, or other?
Where do you believe a technology solution could be developed / would be most useful?
Jon, if you're spruiking for business here on BP, you need to be a paid-up Pro/Plus member!
I haven't reported this thread to the Moderators, but don't be surprised if someone does.
My point is: for your goals - you need the benefits that being a paid up Member will get you!
No Brent. I don't need any business here man. Don't worry.
I'm not selling anything. I'm a full-time national real estate investor. Checkout my profile for more.
- 8yJon Q.Investor · Berkeley, CA · Member since 2015 · 1k+ posts · 713 votesOP
Originally posted by @Lynn McGeein:
@Levi T., Title issues are more complicated than just checking the correct owner's name through the years. I've had several issues in the last year alone where the owners had the right to sell, but found out they couldn't transfer access to the public road due to an important sentence being left out of a deed that started 2 owners previously, and are currently under claim with their title insurance to fix the issue. I also had one where the name on the deed was correct on the first paragraph, but someone mixed it up with the seller's name on the second. No one caught it at that settlement, so that deed had to be corrected and the correction recorded before moving forward. There are boundary issues, adverse possession, easements, etc. Not sure how blockchain would be able to help with many real-life title problems that hold up the sale of property.
I'm pretty sure that it would help, but there are still many roadblocks for adoption and I don't think it'll happen anytime soon. Here's a good article with list of roadblocks (see near the end of article).
https://www.americanbanker.com/news/could-blockchains-replace-banks-in-real-estate-lending
- 8yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
@Jon Q. Jon I am just a lowly developer / lender / builder/ NOte purveryor what is a BLOCKCHAIN whats and how does that work when it comes to real estate.. ?
- 8yJon Q.Investor · Berkeley, CA · Member since 2015 · 1k+ posts · 713 votesOP
Thanks All!
If you're interested, here's the updated list that I got:
Propy http://propy.com Founder: Natalia Karayaneva Summary: Real estate platform where you can buy property entirely online — and it's potentially a good outlet for quickly transferring bitcoin wealth into hard assets. Ubitquity https://www.ubitquity.io/web/index.html Founder: Nathan D. Wosnack Summary: We offer a simple user experience for securely recording and tracking property with our Software-as-a-Service (SaaS) blockchain platform. We help e-recording companies, title companies, municipalities, and custom clients benefit from a clean record of ownership, thereby reducing future title search time, and increasing confidence/transparency. ATLANT https://atlant.io Founder: Julian Svirsky ATLANT is addressing two of the most pertinent problems in real estate with its decentralized blockchain platform: Tokenized Ownership and global P2P Rentals. Tokenized Ownership Listing of real estate tokens representing shares in individual real estate assets and their liquid trading in a transparent and orderly market with price discovery. ShelterZoom ShelterZoom.com Founder: Amir Allen Alishahi ShelterZoom has built an Ethereum-based offer and acceptance platform that went live Dec. 14. RealBlocks http://realblocks.com Founder: Perrin Quarshie
RealBlocks lets people invest in housing on its blockchain with fiat or digital currency (and starting in February 2018, its own tokens). It has completed seven deals so far. SALT Lending https://www.saltlending.com Founder: Shawn Owen SALT (Secured Automated Lending Technology), a membership-based financial ecosystem based in Denver, Colorado, is launching what is claimed to be the first lending platform to support loans denominated in national currencies collateralized by blockchain assets including bitcoin. Rentberry Rentberry.com Founder: Alex Lubinsky The first rental platform that streamlines negotiations between landlords and tenants, eliminates the hassle of paperwork and helps properties get their true market price. Market your property listings, benefit from custom offers, make use of tenant screening, and collect rent online if you’re a landlord. Cryptocribs Cryptocribs.com Founder: Erasmus Elsner & Serge Birri CryptoCribs is a platform combining the concept of Airbnb with cryptocurrency. Cryptobnb Cryptobnb.io Founder: Tariq Alwahedi A vacation rental marketplace built to improve short term rental experiences. Powered by blockchain, artificial intelligence, big data promises to deliver smart machine learning user's wallets to enhance their search results and improve property turnarounds. Watch the Video. Changing the Travel Market.
- 8yJon Q.Investor · Berkeley, CA · Member since 2015 · 1k+ posts · 713 votesOP
Originally posted by @Jay Hinrichs:
@Jon Q. Jon I am just a lowly developer / lender / builder/ NOte purveryor what is a BLOCKCHAIN whats and how does that work when it comes to real estate.. ?
Thanks Jay.
Although people use the term "blockchain" often, it is a term that is used to erroneously describe the most important innovation which is the "distributed ledger". "Blockchain" is a certain type of distributed ledger.
A "distributed ledger" is a consensus of replicated, shared, and synchronized digital data geographically spread across multiple sites, countries, or institutions. There is no central administrator or centralised data storage.
A blockchain is a decentralized and distributed digital ledger that is used to record transactions across many computers so that the record cannot be altered retroactively without the alteration of all subsequent blocks and the collusion of the network.
Example: ALL bitcoin transactions that have ever occurred are Stored in the public blockchain (held on every computer running the Bitcoin client) is the record of every transaction ever made, including any transactions that sent you coins. In the past a centralized entity was tasked with facilitating the record keeping. This is no longer needed. This is the core of the innovation... no centralized athority/entity needed! No middlemen... see job loss of all middle men or companies facilitating transactions.
Bitcoin, Etherium, Litecoin and most other crypto currencies are built using blockchain technology (but careful, some are not ex. Ripple (XRP) which is centralized and currency is 50% owned and controlled by Ripple).
Because this technology allows for decentralization, it's literally impossible to turn off these technologies. They are not going away and will likely be infused in most industries over the next 10 years.
Here's an article about it's applications:http://www.businessinsider.com/blockchain-distributed-ledgers-2017-10
- 8yJon Q.Investor · Berkeley, CA · Member since 2015 · 1k+ posts · 713 votesOP
Originally posted by @Jay Hinrichs:
@Jon Q. Jon I am just a lowly developer / lender / builder/ NOte purveryor what is a BLOCKCHAIN whats and how does that work when it comes to real estate.. ?
Jay, here is a list and article of industrIt’s that will be disrupted.
1. Banking and Payments
2. Cyber Security
3. Supply Chain Management
4. Forecasting
5. Networking and the Internet of Things
6. Insurance
7. Private Transport and Ride Sharing
8. Cloud Storage
9. Charity
10. Voting
11. Government
12. Public Benefits
13. Healthcare
14. Energy Management
15. Online Music
16. Retail
17. Real Estate
18. Crowdfunding
19. Your Industry
http://futurethinkers.org/industries-blockchain-disrupt/
Specific applications in real estate:
1. Platforms and Marketplaces
2. No Intermediaries
3. Liquidity
4. Fractional Ownership
5. Decentralization
6. Lower Costs
7. Increase access
https://www.investopedia.com/news/how-blockchain-technology-changing-real-estate/In terms of the real estate, there are a number of roadblocks, but because of the significant cost savings and other benefits, I’m confident that distributed ledger tech will be adopted, most quickly in lending:
Here’s a good article that discusses the opportunities in real estate and roadblocks:
https://www.americanbanker.com/news/could-blockcha...
Finally, I run two blockchain discussion groups, one real estate related, the other crypto related. They are free and I’m not paid anything to facilitate them. If interested in that feel free to message me.
- 8yJon Q.Investor · Berkeley, CA · Member since 2015 · 1k+ posts · 713 votesOP
Originally posted by @Jay Hinrichs:
@Jon Q. Jon I am just a lowly developer / lender / builder/ NOte purveryor what is a BLOCKCHAIN whats and how does that work when it comes to real estate.. ?
I live in Silicon Valley. Most of the founders of these startups are here. This is happening now!
I’m confident that you’ll benefit by spending some time gaining a basic understanding of the technology and its likely impact on your business.
- 8yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
@Jon Q. well since I don't understand it I guess I will be a late adapter or dead one or the other.. heck I just learned to copy and paste on a computer in the last 5 years.. and I still don't know how to get pictures from my phone on to the computer so I can share our projects with BP readers.. I forward them to other very nice members who post them for me.. I know how to forward them from my phone to another phone.. plus I know how to scan.. without scan and e mail I would be dead in the water.
- 8yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
@Jon Q. YUP going to high school in Cupertino in the early 70s you would have thunk I would have got a little high tech knowledge but nope..
- 8yJon Q.Investor · Berkeley, CA · Member since 2015 · 1k+ posts · 713 votesOP
Originally posted by @Jay Hinrichs:
@Jon Q. YUP going to high school in Cupertino in the early 70s you would have thunk I would have got a little high tech knowledge but nope..
Yeah :-), but I’m sure you benefited in a lot of other ways.
All you really need to know is that any transactions involving a middle man will be disrupted. No middle men needed.... see buying/selling, title, lending, escrow, various other types of business transactions, essentially most or all social applications will also be disrupted (this website). Steemit is a social platform based on blockchain. It or an application like it will likely disrupt Facebook very soon.
- 8yJon Q.Investor · Berkeley, CA · Member since 2015 · 1k+ posts · 713 votesOP
Originally posted by @Jay Hinrichs:
@Jon Q. well since I don't understand it I guess I will be a late adapter or dead one or the other.. heck I just learned to copy and paste on a computer in the last 5 years.. and I still don't know how to get pictures from my phone on to the computer so I can share our projects with BP readers.. I forward them to other very nice members who post them for me.. I know how to forward them from my phone to another phone.. plus I know how to scan.. without scan and e mail I would be dead in the water.
You don’t really need to understand it. You just need to understand how it will likely impact your business... and see if and how you it can benefit your business.
- 8yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
@Jon Q. I suppose what will happen is its just another consultant I hire.. just like I hire someone to do my tax's I will need someone to explain how all this works..
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