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Ryan

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Managing Partner of TruVest Next Generation, Development & Technology. Partnering w/ communities & homeowners to build affordable housing #realestate

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Crypto Real Estate Transactions Are Here – Here’s How They’ll Impact...

Due to the blockchain’s revolutionary power and abilities, it’s no surprise that as cryptocurrency progresses in changing the financial landscape, it impacts other industries along the way. Real estate is an industry that impacts us all. Because of its ability to record every change and transaction made on it, blockchain is incredibly transparent. One of the highest costs of transactions “arises from transaction friction due to so many middlemen (think escrow, title, insurance, brokers). So who are the new participants in this crypto-readied real estate world? For example, “a family with a $300,000 home for sale can continue their lives while they get a full-service local agent and tech-based platform for ⅙ the regular cost. Deedcoin isn’t for buying homes, but it helps you save 80 percent or more on commission fees and hooks you up directly with an agent. So while Deedcoin helps you with the agent side, Real Estate Revolution (REX) helps you find listings. Even if you don’t need tokens to transfer property (or related documents), you can use the technology across numerous facets of the real estate industry. How do you think blockchain will affect the real estate industry?