Snap Inspect: Blockchain in action

The blockchain is disrupting the property Industry by changing this process and making it completely transparent. What was once an excessively complicated and administrative procedure can now be simplified considerably. Smart contracts, which are essentially self-executing contracts that include the terms of the agreement between the buyer and seller directly written into the lines of code, revolutionize the way property gets sold and brought.

Read More
RagnarComment
London developer to allow rental tenants to pay deposits in bitcoin

Co-living pioneer The Collective has announced that prospective tenants can pay deposits from Monday in bitcoin. By the end of this year it will also accept rent payments in the cryptocurrency. This is the first time in the UK a major property developer has enabled bitcoin payments. The Collective said it was in response to demand predominantly from international customers.

Read More
RagnarComment
Will blockchain and smart contracts revolutionise the real estate industry?

But the situation may be about to change as a new wave of fintech start-ups around the world begin disrupting the sector with blockchain (or distributed ledger) technology.

It has the potential to bring together the vast amount of property information currently stored in many private and government databases, including all legal and transaction history, via a single digital address stored on an immutable, public distributed ledger.

Read More
RagnarComment
Real Estate Buyer Makes $1.3 Million Buying Home With Bitcoin

A real estate buyer in California profited nearly $1.3 mln after purchasing $4 mln worth of Bitcoin with an intent to purchase a house in California.

Earlier this month, BitPay chief commercial officer (CCO) Sonny Singh was approached by a real estate buyer based in California who wished to purchase a $4 mln house solely using Bitcoin.

Read More
RagnarComment
Money, blockchains, and social scalability - by Nick Szabo

Blockchain technology, which implements data integrity via computer science rather than via “call the cops”, has so far made possible trust-minimized money -- cryptocurrencies – and will let us make progress in other financial areas as well as other areas where transactions can be based primarily on data available online.

Read More
RagnarComment
Chicago’s Cook County to Test Bitcoin Blockchain-Based Property Title Transfer With velox.RE

Through an exclusive partnership with real estate tech startup Velox.re, Chicago’s Cook County will test the use of the Bitcoin blockchain for transferring and tracking property titles and other public records. The Cook County Recorder’s Office is the second largest such office in the United States, and it it will be the first in the country to experiment with blockchain technology.

Read More
RagnarComment
Could Blockchain Change The Face Of Property Transactions? Page 28 - RICS Journal


The internet made it possible to transfer information, quickly, cheaply and paperlessly without intermediaries. Similarly, blockchain technology offers the same advantages for transferring value. You use the internet to transfer words and pictures; you use blockchain platforms to transfer money and assets. Starts on page 28.
 

Read More
RagnarComment
Trade Group Promotes Using Blockchain for Real Estate

The biggest obstacle hindering the development of blockchain for real estate is an industry that is afraid of change. “The response I’ve gotten many times is, Who else is using this? The real estate industry has too many people who want to not make a mistake rather than innovate. It’s why our industry is years behind Wall Street in terms of technology adoption.”

Read More
RagnarComment
Will Blockchain Smart Contracts Revolutionize Real Estate Transactions?

Similar to Bitcoin and other virtual currencies powered by blockchain technology, “smart contracts” have the potential to eliminate the need for trusted third parties to facilitate transactions. In the case of real estate agreements, contracts could be verified and enforced automatically without the need for human interaction, reducing the need for agents, lenders, inspectors and title insurance providers.

Read More
RagnarComment