Real estate on the blockchain: will the blockchain subvert real estate?

CECBC 2021-11-23 13:30:32 阅读数:131

real estate blockchain blockchain subvert

 Real estate on the blockchain : Will blockchain subvert real estate ?_ The currency

For the real estate industry , Buying or renting a house is a complex and time-consuming process , therefore , In the opinion of hairball Technology , For a long time, the real estate industry has been a business type relying on outdated systems .

The subversion of blockchain on financial services and its subsequent wide application in all walks of life , It is difficult to find a link that is not affected by this technology . The same is true of real estate , No one has escaped the blockchain “ damage ”. In the past , It is very common to trade high-value assets such as real estate completely through digital channels .

We all know , Real estate transactions are usually conducted offline , It involves face-to-face contact with various entities , Such as banks 、 developers 、 Functional departments, etc , However , The emergence of blockchain has changed this situation .

As a relatively new technology , Blockchain has been widely regarded as a subversive force against the industry that mainly relied on paper systems in the past . Bank 、 Medical care 、 Pharmacy 、 Shipping and more industries have begun to use blockchain Technology , Hope to occupy a place in the future commercial market .

For the real estate industry , Buying or renting a house is a complex and time-consuming process , therefore , In the opinion of hairball Technology , For a long time, the real estate industry has been a business type relying on outdated systems .

at present , Three main problems faced by real estate :

1. Potential home buyers lack cheap financing options ;

2. The number of intermediaries has increased ;

3. Mainly rely on outdated paper systems .

Why real estate on the blockchain ?

Now? , Blockchain is under continuous development and improvement , In order to provide more efficient management and logistics for the supply chain . Of course, blockchain is in the bank 、 Medical care 、 education 、 Shipping and transportation industries have adopted many , meanwhile , With the Internet of things 、 The combination of artificial intelligence may affect the way business is conducted in the future .

Blockchain as a digital distributed ledger , Blockchain provides a platform for enterprises to conduct more reliable business 、 Security 、 Transparent and effective business practices , namely :

Improve safety —— By running the system at each node in the network , Blockchain eliminates the single point of failure that has always been a problem .

Improve transparency —— Each member of the chain can access the same information . Blockchain networks can update new information through majority consensus or voting .

The current problems in the real estate industry

Because of outdated systems , The real estate industry should have improved long ago . Not only at home , America abroad 、 Nigeria , Even the world , Real estate faces two major problems .

Lack of affordable funding options

Due to student debt and rising house prices , Many millennials can't afford a house . It's not just because they spend ahead of time , And because of rising rents , Hollowed out their funds .

according to CNBC reports ,18 to 34 Years old people will 30% Give your salary to the landlord . since 70 Age and 80 s , The economy has undergone earth shaking changes , Now millennials have excessive consumption habits and disregard for the future , Therefore, the consequences must also be borne .

A solution to this problem is blockchain . at present , As an old blockchain company, maoqiu technology has been committed to the research and development of blockchain solutions .

Increase in intermediaries

near 80% Of home buyers need real estate agents or brokers when buying houses , The standard commission for these services will generally be at 3%-6% about , In the simplest form , One 200 The agency fee or commission fee of 10000 houses is 6 ten thousand -10 All around , For buyers , This is also a big expense .

The mediation 、 Bank , There may be a lawyer , It has long been a part of the real estate ecosystem . However , Blockchains may soon usher in the transformation of their role and participation in real estate transactions . Cut off intermediaries , It can save part of the funds of house buyers , It can also eliminate the time cost between middlemen , Make the purchase process faster .

So why hasn't the real estate industry improved yet ?

Blockchain technology dates back to 2008 It has been available since , But not many people knew it at that time , Because they don't know how to benefit from it .

secondly , Think about how many intermediaries there are in real estate : Hundreds of thousands of real estate practitioners , These people in order to ensure work and invisible income , Then why do they adopt blockchain ?

For these reasons , Blockchain may not bring any significant changes to the real estate market soon . therefore , To make blockchain popular on a large scale , Large scale adoption is needed . If blockchain is adopted by real estate , So what do you see in hairball technology , At that time, earth shaking changes will take place in real estate .

Introducing blockchain into real estate

1. Partial ownership

By allowing partial ownership , Blockchain can reduce barriers to real estate investment . Usually , In the early stage of buying a house, you need to invest a lot of early-stage funds and pay property fees . Through blockchain , Buyers only need to access one application , You can see the progress of your house .

Blockchain technology affects the real estate industry in many ways , Including providing a new connection mode for both buyers and sellers . Blockchain can be used to remove intermediaries from real estate transactions , So as to save the purchase cost .

2. De centralization

Blockchain is a decentralized technology , Require credibility and security . The information stored in the blockchain can be accessed by all peers on the network , This makes the data more transparent and unchangeable . Just review 2008 The collapse of the real estate bubble in 2008 , We can see the disastrous consequences of institutional greed and lack of transparency . Decentralized trading platform builds trust in the system , Information can be peer verified , The buyer and the seller can update the transaction .

  1. Mobility

Global real estate is worth trillions of dollars , But it is dominated by the rich and big companies . Through blockchain Technology , More people are likely to enter the market , Trading here can become more transparent 、 Safety and equity . Real estate transactions may eventually become a real point-to-point activity , The blockchain driven platform does most of the work .

  1. Transparency through smart contracts

Only a few people did not use any loans or any other mortgage procedures when buying the property , Other buyers and investors usually apply for home loans . And you know how painful the whole process is .

Before your loan application is processed , It will take a long time , The amount is then approved . However , Blockchain technology provides facilities for smart contracts , It can actually simplify the whole process . Smart contracts allow you to develop a digital contract for the relevant property ID, Whether as a buyer or seller . This makes the transfer of ownership easier 、 faster 、 Smoother . Besides , Smart contracts also help monitor the transaction process .

Due to the inherent trust system of blockchain, it has become an ideal technology for real estate . Real estate companies around the world are using blockchain's smart contract and ledger capabilities , Promote leasing transparently and effectively 、 Buy 、 Investment and even borrowing .

Blockchain has a significant impact on the real estate industry because it can eliminate the demand for intermediaries in transactions , Increase trust between traders , Act as Records Administrator , Accelerate all contracts 、 Leases and transactions , Improve liquidity , Reduce fraud , Reduce costs and expenses .

  author : Hairball Technology