Post
Topic
Board Tokens (Altcoins)
Re: [ANN][ICO] 🚀🚀 ElementsEstates: Token of your Real Estate opportunity!🚀🚀
by
CryptoCADCAM
on 21/03/2019, 09:30:39 UTC
The blockchain is a decentralized ledger of all transactions through a peer-to-peer network. With this technology, subscribers can make transactions without the need for a central certification authority. Possible applications include cash transfers, transaction settlements, financing and many other. As the name implies, the blockchain is a chain of cryptographically encrypted blocks containing specific information or data. After a transaction, the data recorded within a blockchain can not be changed since the downstream blocks verify the upstream transactions.

In the context of the real estate industry, there are several possible uses for the block chain along the entire property value chain. In the short term, blockchain can be used to transfer the purchase price for real estate transactions using established cryptocurrencies, as well as through initial coin offerings (tokenization). First experiments have already been observed on the market. For example, Sweden is already working on a blockchain-technology based digital land register. In the medium term, the application of smart contracts is expected. These are electronic contracts based on computer protocols that can automatically monitor the stored clauses or rules and can automatically execute defined actions in the event of a trigger event. Thus, a written fixation in paper form is unnecessary. In the long run, Blockchain will help to significantly increase market transparency and solve principal-agent issues.

Today, the practicable use of blockchain in the real estate context is only emerging and very rudimentary pronounced. The first possible applications have mostly been considered theoretically, but a practicable and mass-suitable implication still requires further development.

With the help of Smart Contracts, it will be possible in the future via Blockchain to design rental and purchase contracts, to provide and evaluate the necessary data for real estate valuation, to commission service providers along the value chain, to map real estate data and to store sensitive data.

https://www.pwc.de/en/real-estate/digital-real-estate/blockchain-in-real-estate.html