Topic: Can decentralized technology help the housing market? (Read 295 times)

There are different ICO and project that already launched and done with the crowdsale, as i know there is ALTANT project that will be starting to list some properties this March of the present year. As blockchain is being so fast on rising, companies and project are targetting and creating new projects to improve the world in every aspect of the business. Real estate is one of the most popular business in the world that's why blockchain and ICO will not let that go.

I am not sure of there is platform as of now that is using blockchain technology in housing. I know that there are real estate projects that are based from blockchain technology. Therefore, Housing markets also can be in decent technology.

How is crypto going to do that specifically? Nothing you said there is enabled by crypto, you're just talking about a new competition source for loans that's denominated in crypto. There are already non-traditional loan sources that compete with traditional loans, but the fact remains that centralized loans from a bank are already the most competitive means for securing a mortgage. Crypto isn't going to make a loan more competitive than that because the it's not about what it's denominated in (fiat or crypto), it's about the terms of the loan dictated by the lender. Crypto isn't going to magically make lenders want to accept a lower rate of return on the capital they loan out.

I do not think you can, everything depends on the point of view you refer to it.
For example if you want to sell real estate and receive payments in bitcoins
if you want to buy a house with bitcoins
if you think that bitcoin can give you a profit so full to buy a home ...

You have to perform an analysis from all points of view.

From a technical point of view is very feasible, and probably could take less effort than we think.
(I'm pretty sure that real estate transactions of the last 100 years are less that bitcoin transaction in the blockchain. Of course I can't figure)
But the resistance to this project would be extremely strong: there are too many interest on the table, and it would be a real revolution in the power system.
Btw, sooner or late it will happen, but - as in any revolution - there will be blood.

Correct. I however see this be something that will either take a lot time to be fully implemented, or probably never. It's not for nothing that the system didn't change much in the last few decades. It works against the solidified old fashion system where it stimulates everyone involving the entities operating this market far more than the consumers. Consumers are the lowest on the food chain in this regard, and that's something banks and other parties will like to keep so. If this system was even slightly willing to change, the entire financial world would look completely different, but that's unfortunately not in their interest, which explains the very slow forward minded progress.

It's a great idea, and there are some project in this sense, but I think that it will take a long time before the public can accept something like this.
And - as this will be a real revolution in in the power system - I'm pretty sure that governments won't agree.

Current system allows more manipulation because less transparency, if the public can freely comment and discuss property all the scam property gets sold for less + its harder to hype a property.  Its illegal is why the private sites like zillow,rightmove dont have the feature IMO unless some knows the law better?

Of course it can help, and such a platform will be in the near future. I met the ICO project with this idea (I do not remember the name). Such technology as blockchain has great advantages and convenience in use. Current also uses this technology, you should familiarize yourself with this project.

Yes.

Decentralizing banking could have a positive impact on housing markets. For example let's say a crypto currency were designed to work with real estate transactions. Real estate loans could have their annual percentage rates reduced via free market competition introduced as crypto began to compete in what might be described as a centralized and monopolistic housing market run by banks. Reducing APR rates could create a more efficient housing market which might benefit consumers.

I think real estate is the one the areas where blockchain can be most revolutionizing. It's implication will be there in almost all types of transactions. An electronic crypto protected sale, without paperwork and title deed fraud. Self withdrawal of rent with complete audit trail. No fear of manipulation in self governing accounting system, which leads to increased public trust and more investment in real estate industry. A much secure well maintained electronic record of every individual for a better credit history. These are few ways where it can help real estate.

Yes, even if the blockchain can have a lot of applications out of the bitcoin, it seems to me that only a government or a mega company could have the power to implement a so big project.
But it's not impossible.

It's a fantastic idea, and of course it's the next step toward complete decentralization of power.
I heard that someone is already implementing this project about lands, for sure someone will do for real estate.
But of course the realization will need an immense effort of organization and logistic, not to say that it's open to a lot of abuses. We'll see.
But the blockchain can be used for any kind of "public archive". Think for example to a Diploma database. To any kind of public title.
It will be a very different world.  

Zillow allows owners of the property to alter the information on the website, as for open-ended comments that anyone can post on it (like a public comment section on websites), I'm not entirely sure of. But if there was a market need for this, I would expect it to be implemented by one of the dozens of sites competing in a competitive space. The fact that there may not be is indicative that there really isn't much point for random people to be commenting on random properties, so the use of blockchain to enable this is nonsensical since no one is asking for this feature.

I'm actually just thinking like a full house database like site would be great way to start.  The rest will fall into place if people use it.

This is one of the biggest projects in my mind. Humanity expects such a project. An exciting idea

In UK we use rightmove and zoopla, there aren't comments next to property as you search through else pretty sure rightmove and zoopla get shut down with UK regulations. Do Zillow/trulia or relator have this feature?

If that's what you're looking for, why not just go to any real estate website or database to find them? Blockchain isn't going to solve this issue or make it easier than websites like Zillow or Trulia or Relator.com (or dozens of others). MLS is a centralized listing of properties for sale, so all blockchain would do is decentralize something that is currently working fine and therefore wouldn't really be an improvement. It just seems like this idea is an unnecessary use of blockchain that solves a problem that doesn't exist.

If I had any type of tech skills I would put up a test site.  Ever though more people using it the better even if a low % are using it it could still be very helpful.  If anyone wants to do any project like this PM me. Its not for profit but more disruption.

all I know all this time is that every time running a business in the field of property there will be some licenses to be done in order to qualify the administration. but with a system like this that is with a blockhaind system I think of course this will be detached from all sorts of licensing systems that must and must be done from the business in the field of theproperti by opening a site like this. so I am not too sure whether this system will work well and have many visitors who will do the buying and selling activities or anything inside.

That's why some kind of decentralization could help because you don't have to worry about local regulations. Well for what i want the platform for anyway which is searching out property and seeing comments relating.

Anyone who has encountered buying or selling a property knows what kind of trouble it is. The problem is not limited to finding the right buyer or seller. In fact, the main problem lies in the area of ​​trust. People prefer to turn to familiar realtors, look for agents through friends, expecting that they will guarantee themselves security of the transaction. Although, in order to reduce the risk of being deceived to a minimum, you only need to strictly follow the rules and procedures for buying / selling housing. But people prefer to pay to the familiar realtors a few hundred thousand rubles, often confusing the notion of "sense of security" and "professionalism."

Blocking the very possibility of deceiving leads to zero. This technology allows reliable and distributed storage of reliable data that can be anything: documents for an apartment, records of money transfers, contracts, passport data, etc. All this data is stored on the computers of the users of the network of blockers. By connecting to it, the user can exchange data - all have equal rights, everyone sees in the chain changes that are available to him, everyone can make the necessary changes without intermediaries, and any malicious change will not have the power, because it will be immediately detected.

As you know, blockade technologies came from bitcoins. Then they were actively picked up by the financial sector. Thus, in early March this year, 40 of the world's largest banks announced experiments with a new technology. It is believed that in the near future this will greatly change the banking environment. According to Santander's calculations, savings on cross-border payments, security and securities trading due to the blockbuster could amount to $ 20 billion a year. Cost reductions are possible due to the lack of centralized management and slow and expensive payment systems.

Funny you should mention this, just the other day I've been thinking about how real estate is in need of disruption. I was not even thinking about a decentralized solution but rather how awesome it would be to have a public database that you could query according to your renting or investment needs.

Alas, not even such a database exists, not where I live anyway. And here seems to be the heart of the problem -- real estate is handled very differently from country to country, from city to city even. Real estate agencies offer very little public information of the assets they are trying to sell and from a business perspective probably rightfully so. It's a very opaque ecosystem were trust and personal interaction is still key, even as far as giving out information is concerned. Maybe in other places there's more transparency, but I'm sure most cities are in the hands of private real estate agencies that will try to protect their data as crypto enthusiasts protect their private keys.

That being said, I'd love to see such a platform. I'm just afraid it would be incredibly hard to free real estate of the firm grip of already established agencies while still adhering to local regulations. AirBnB has found its niche in that holiday rentals are more profitable and some regulatory loopholes can be taken advantage of, not sure if the same could be applied to everyday life real estate as well.

I don't know if there is any demand for this ok guys

However sites like this don't exist in UK in this format because the messaging sections on other sites currently only allow private messages between potential buyer and seller - I think its because if you have public comments attached to a property its becomes illegal because else people can write stuff like... all the properties on this street are built poorly or very bad neighbours live here etc, or this house is 20% over priced because etc etc etc.  

This portal would auto list every single property by using google street view data or anything else like that.

Conveyancing solicitors, surveyors and estate agents would all lose money on a portal like this done right.

We already have such platform available outside the crypto market. Not sure about your country, but in India, we have many platform which serves similar functionality. You can visit housing. com, 99acres. com or nobroker. com. There are plenty more website available, but these three are the most popular.


Creating a real estate portal to eliminate brokers was never illegal, at least in my country. So using those above mentioned portal, I have purchase my own property few months back. These portals also offers auction facility which allows people to find the best price for any listed property. So I am not sure what you are referring as decentralized technology can help real estate market.

I see someone mentioned about a token for real estate. But I am not sure what extra they can do from the existing facilities. But I see tokens as just a normal token and nothing else. Because in the past, I have seen a lot of ICOs promised something really great but didn't turn up with the final product. So I am not convinced here.  

After the crisis the real estate market has not recovered. How to develop it? People have no free money. People are not confident in the future. From the fact that you wrap the product in a nice package of money people have does not appear. I think what matters most to stimulate the economy. People should have a lot of money and confidence in the future. Then there is a desire to improve their living conditions.

Sounds like Zillow, why would you need an overly complicated technology like blockchain when this information can be much more easily controlled and edited on a centralized database like those offered by Zillow, Trulia, Realtor.com, etc. These services already permit you to list your house for free there in a searchable database. This doesn't seem like a useful application for blockchain. Far more useful (potentially) is recording of deeds and such using blockchain, not for listing properties for sale.

I see, but im sure sites like this already exist? I know several websites in which you can see all the prices and you can also make asks saying what you are looking for, they are local sites it's not some global database tho.

I would like to see how that would work in a blockchain, but how do you even keep it secure? bitcoin is the only secure blockchain as far as im concerned, the rest I can deal with in centralized websites for now.

Maybe a sidechain for that once they are available would make more sense than yet another altcoin.

Its mostly to show initial interest from a buyer to a seller, the rest of the transaction would have to go via the normal routes.  For instance I am having to put leaflets through doors of houses I want to buy atm because I don't like what is on the market.  If there was some site which listed ever single property I could log my interest this way and put an approximate buy order of what I might be willing to pay provided viewing and possible survey checks out ok.

Im not sure what the need for that is. It would help that it's not a centralized website I guess, since the owner could make change to real estate offer rankings if bribed...

But If there was a dispute between two parties claiming to own something, you are still going to have to ask the government for that. Same as if someone comes into your property, you are going to ask the police to kick them out.

Real estate is tightly connected with government regulations, I don't see how you can get too far decentralizing it. You are not dealing with data here but with real physical property which sits in land which is basically owned by the government therein, not some token.

ok thanks will look into that.

Not sure if it makes sense but they already have a token out called REX (REX) and I think it does exactly that have the listings for houses nearby. Never used it though, so can't say for certain how it works.

Is it possible to have a platform which lists all property + allows comments relating to the property to be associated? Also sales values and ability to just attach an offer if the owner were to ever be interested in selling.... does this make sense ?

In the past I think stuff like this has been illegal? but I think it could help housing market. You never would actually have to list a property for sale as such, you'd just visit this platform and in theory you'd see a range of offers currently on the table for your property (obviously subject to viewing).   I know people have to survey a house etc etc.  The purpose of the site/platform is purely for the intial meeting of potential seller and potential buyer - something estate agents charge for.