There’s been a lot of unlikely buzzwords circling around the real estate market recently. Bitcoin, blockchain, ethereum, and cryptocurrency, in general, are preparing to make major disruptions to the industry for what seems like the better.
Vermont recently announced their move toward blockchain and incorporating it into their real estate registry as a means to track property transactions. It’s a pilot program working with Palo Alto’s own startup Propy. While it’s an exciting step, it also raises a lot of questions. Given the volatility of this new currency, is it a sustainable or reliable option for both buyers and sellers? Do I need to understand cryptocurrency to invest with it? Is it safe? All these questions are valid and common.
Like any new advancement, this real estate tech adoption is bound to bring its own learning curve and mishaps. I think it’s important that these aspects of the advancements don’t take away from the opportunities they also create. If there wasn’t a wealth of possibility, so many tech companies wouldn’t be hopping on board and sinking into combining the two industries.
International real estate investments can seem daunting. How do you know your investment is reliable without understanding the markets abroad? Can you trust that you aren’t being a ripped off or setting yourself up to be taken advantage of? The structure the marks bitcoin so reliable, the blockchain, is also now at the basis of a handful of secure investing options in order to escape fraudulent charges and track your purchases. As Jonathan Long described on Forbes, “REALISTO utilizes smart contracts to give investors more control while investing in real estate. Because of the highly diverse international markets, laws and networks, it can be difficult to imagine investing in real estate outside of your local market. This platform helps people across the globe invest in real estate without worrying about being defrauded.”
Is your interest peaked? You can learn more about how cryptocurrency is disrupting real estate and investing in this #EntMETalk here with entrepreneur and CEO, Omar Kassim:
As described, “Kassim discusses how he came up with the concept of Esanjo by examining the real estate space and a tech solution for it. As Ethereum lets developers create their own cryptocurrency, Kassim explains how the platform plans to take real estate assets and “tokenise” each asset, giving everyone the opportunity to buy and sell those “tokens”, without the overhead of a bigger entity to handle the process.” Based on his input, you can’t help but feel like we are on the cusp of an important and exciting breakthrough in how we invest and complete real estate transactions.