Real Estate
Land is one of the biggest sources of wealth in the world.
But an estimated $7–$9 trillion worth of land is “locked up”
due to poor recordkeeping and archaic land registries.
The blockchain will change all that...
But an estimated $7–$9 trillion worth of land is “locked up”
due to poor recordkeeping and archaic land registries.
The blockchain will change all that...
Today, buying and selling real estate is a lengthy process...
Most people need to hire middlemen such as brokers, inspectors,
appraisers, notaries, and so on to get a deal done.
Most people need to hire middlemen such as brokers, inspectors,
appraisers, notaries, and so on to get a deal done.
The blockchain will eliminate the need for these intermediaries—
and all their paperwork—by assigning each property a digital address.
The address will contain the property’s entire transaction history
and update it in real time.
and all their paperwork—by assigning each property a digital address.
The address will contain the property’s entire transaction history
and update it in real time.
The blockchain will also allow people to create “smart contracts.”
Smart contracts are computer protocols that execute and enforce agreements.
Since cryptocurrencies are “programmable money,” they can be added to a
smart contract to automatically pay the first month’s rent or fund escrow
accounts... reducing costs and saving time.
Smart contracts are computer protocols that execute and enforce agreements.
Since cryptocurrencies are “programmable money,” they can be added to a
smart contract to automatically pay the first month’s rent or fund escrow
accounts... reducing costs and saving time.
Cook County (home to Chicago) is already experimenting with the blockchain.
The county is working with startup Velox.re to test the blockchain
for recording and transferring property titles and tax liens.
The county is working with startup Velox.re to test the blockchain
for recording and transferring property titles and tax liens.
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