Topic: Thinking through how the blockchain and related tech might impact real estate. - page 2. (Read 237 times)
January 12, 2022, 04:35:20 PM
There is very little that a decentralised system can add to real state as such that cannot be achieved already by existing means and by the usual databases and systems. However, there is something to be said about decentralised organisations and new governance systems that can actually make the managing of real state more democratic or easier. I am talking about voting, demonstrating rights, paying and providing collaterals, but all that fall more into financing.
January 12, 2022, 03:00:12 PM
The obvious benefit is that the involvement of third-parties can be reduced by recording transfers of titles with a block chain, as long as those third parties recognize the process as valid. An NFT can be used as a way to register ownership, so it seems like a natural fit to me. That doesn't mean it will happen any time soon, though. Governments tend to protect their economic empires at the expense of their constituents.
January 12, 2022, 11:59:23 AM
The problem imo is that blockchain works well when you have to deal with data that is generated according to certain condition defined by the protocol, for physical / material assets not so much, unless the information can be verified by the whole network which is very unlikely for real estate, and it ends up depending on trusted third parties so blockchain are more going to be a waste than anything.
January 12, 2022, 11:56:53 AM
In a recent interview long-time real estate innovator Teresa Grobecker made the bold claim that in about a decade home titles will be hosted on a blockchain as NFTs.
Setting aside that there's probably a certain amount of showmanship and hyperbole on display here, the conversation touched on a number of ways in which NFTs and the blockchain could transform real estate, including:
- Using NFTs to certify that e.g. certain repairs had been done on home appliances or fixtures (https://youtu.be/MP2xGAfUn0I?t=1007)
- Looking at how real estate might play out in the metaverse (https://youtu.be/MP2xGAfUn0I?t=820)
- The ways in which a blockchain for real estate might make appraisals more objective, reducing bias in the home ownership process and improving prosperity in under-represented communities (https://youtu.be/MP2xGAfUn0I?t=1297)
I would be interested in hearing the community's thoughts, as I'm currently in the process of trying to seriously think through the various real-world use cases for these technologies.
Setting aside that there's probably a certain amount of showmanship and hyperbole on display here, the conversation touched on a number of ways in which NFTs and the blockchain could transform real estate, including:
- Using NFTs to certify that e.g. certain repairs had been done on home appliances or fixtures (https://youtu.be/MP2xGAfUn0I?t=1007)
- Looking at how real estate might play out in the metaverse (https://youtu.be/MP2xGAfUn0I?t=820)
- The ways in which a blockchain for real estate might make appraisals more objective, reducing bias in the home ownership process and improving prosperity in under-represented communities (https://youtu.be/MP2xGAfUn0I?t=1297)
I would be interested in hearing the community's thoughts, as I'm currently in the process of trying to seriously think through the various real-world use cases for these technologies.
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