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Author Topic: Can decentralized technology help the housing market?  (Read 159 times)
Semosuchi Tesongrato
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February 04, 2018, 03:15:38 PM
 #21

It's a fantastic idea, and of course it's the next step toward complete decentralization of power.
I heard that someone is already implementing this project about lands, for sure someone will do for real estate.
But of course the realization will need an immense effort of organization and logistic, not to say that it's open to a lot of abuses. We'll see.
But the blockchain can be used for any kind of "public archive". Think for example to a Diploma database. To any kind of public title.
It will be a very different world.  

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February 05, 2018, 11:34:03 AM
 #22

Yes, even if the blockchain can have a lot of applications out of the bitcoin, it seems to me that only a government or a mega company could have the power to implement a so big project.
But it's not impossible.

It's a fantastic idea, and of course it's the next step toward complete decentralization of power.
I heard that someone is already implementing this project about lands, for sure someone will do for real estate.
But of course the realization will need an immense effort of organization and logistic, not to say that it's open to a lot of abuses. We'll see.
But the blockchain can be used for any kind of "public archive". Think for example to a Diploma database. To any kind of public title.
It will be a very different world.  

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February 05, 2018, 01:43:05 PM
 #23

I think real estate is the one the areas where blockchain can be most revolutionizing. It's implication will be there in almost all types of transactions. An electronic crypto protected sale, without paperwork and title deed fraud. Self withdrawal of rent with complete audit trail. No fear of manipulation in self governing accounting system, which leads to increased public trust and more investment in real estate industry. A much secure well maintained electronic record of every individual for a better credit history. These are few ways where it can help real estate.

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February 05, 2018, 06:01:57 PM
 #24

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Can decentralized technology help the housing market?

Yes.

Decentralizing banking could have a positive impact on housing markets. For example let's say a crypto currency were designed to work with real estate transactions. Real estate loans could have their annual percentage rates reduced via free market competition introduced as crypto began to compete in what might be described as a centralized and monopolistic housing market run by banks. Reducing APR rates could create a more efficient housing market which might benefit consumers.

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February 05, 2018, 07:19:01 PM
 #25

Is it possible to have a platform which lists all property + allows comments relating to the property to be associated? Also sales values and ability to just attach an offer if the owner were to ever be interested in selling.... does this make sense ?

In the past I think stuff like this has been illegal? but I think it could help housing market. You never would actually have to list a property for sale as such, you'd just visit this platform and in theory you'd see a range of offers currently on the table for your property (obviously subject to viewing).   I know people have to survey a house etc etc.  The purpose of the site/platform is purely for the intial meeting of potential seller and potential buyer - something estate agents charge for.




Of course it can help, and such a platform will be in the near future. I met the ICO project with this idea (I do not remember the name). Such technology as blockchain has great advantages and convenience in use. Current also uses this technology, you should familiarize yourself with this project.

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February 06, 2018, 01:30:41 PM
 #26

Is it possible to have a platform which lists all property + allows comments relating to the property to be associated? Also sales values and ability to just attach an offer if the owner were to ever be interested in selling.... does this make sense ?

In the past I think stuff like this has been illegal? but I think it could help housing market. You never would actually have to list a property for sale as such, you'd just visit this platform and in theory you'd see a range of offers currently on the table for your property (obviously subject to viewing).   I know people have to survey a house etc etc.  The purpose of the site/platform is purely for the intial meeting of potential seller and potential buyer - something estate agents charge for.


That being said, I'd love to see such a platform. I'm just afraid it would be incredibly hard to free real estate of the firm grip of already established agencies while still adhering to local regulations.


That's why some kind of decentralization could help because you don't have to worry about local regulations. Well for what i want the platform for anyway which is searching out property and seeing comments relating.



If that's what you're looking for, why not just go to any real estate website or database to find them? Blockchain isn't going to solve this issue or make it easier than websites like Zillow or Trulia or Relator.com (or dozens of others). MLS is a centralized listing of properties for sale, so all blockchain would do is decentralize something that is currently working fine and therefore wouldn't really be an improvement. It just seems like this idea is an unnecessary use of blockchain that solves a problem that doesn't exist.

In UK we use rightmove and zoopla, there aren't comments next to property as you search through else pretty sure rightmove and zoopla get shut down with UK regulations. Do Zillow/trulia or relator have this feature?

Zillow allows owners of the property to alter the information on the website, as for open-ended comments that anyone can post on it (like a public comment section on websites), I'm not entirely sure of. But if there was a market need for this, I would expect it to be implemented by one of the dozens of sites competing in a competitive space. The fact that there may not be is indicative that there really isn't much point for random people to be commenting on random properties, so the use of blockchain to enable this is nonsensical since no one is asking for this feature.

Current system allows more manipulation because less transparency, if the public can freely comment and discuss property all the scam property gets sold for less + its harder to hype a property.  Its illegal is why the private sites like zillow,rightmove dont have the feature IMO unless some knows the law better?

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February 06, 2018, 11:21:55 PM
 #27

It's a great idea, and there are some project in this sense, but I think that it will take a long time before the public can accept something like this.
And - as this will be a real revolution in in the power system - I'm pretty sure that governments won't agree.
richardsNY
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February 06, 2018, 11:30:21 PM
 #28

Decentralizing banking could have a positive impact on housing markets. For example let's say a crypto currency were designed to work with real estate transactions. Real estate loans could have their annual percentage rates reduced via free market competition introduced as crypto began to compete in what might be described as a centralized and monopolistic housing market run by banks. Reducing APR rates could create a more efficient housing market which might benefit consumers.

Correct. I however see this be something that will either take a lot time to be fully implemented, or probably never. It's not for nothing that the system didn't change much in the last few decades. It works against the solidified old fashion system where it stimulates everyone involving the entities operating this market far more than the consumers. Consumers are the lowest on the food chain in this regard, and that's something banks and other parties will like to keep so. If this system was even slightly willing to change, the entire financial world would look completely different, but that's unfortunately not in their interest, which explains the very slow forward minded progress.
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February 07, 2018, 10:19:02 PM
 #29

From a technical point of view is very feasible, and probably could take less effort than we think.
(I'm pretty sure that real estate transactions of the last 100 years are less that bitcoin transaction in the blockchain. Of course I can't figure)
But the resistance to this project would be extremely strong: there are too many interest on the table, and it would be a real revolution in the power system.
Btw, sooner or late it will happen, but - as in any revolution - there will be blood.

Zanrrio20
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February 08, 2018, 02:32:31 PM
 #30

I do not think you can, everything depends on the point of view you refer to it.
For example if you want to sell real estate and receive payments in bitcoins
if you want to buy a house with bitcoins
if you think that bitcoin can give you a profit so full to buy a home ...

You have to perform an analysis from all points of view.
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February 09, 2018, 08:04:01 PM
 #31

Quote
Can decentralized technology help the housing market?

Yes.

Decentralizing banking could have a positive impact on housing markets. For example let's say a crypto currency were designed to work with real estate transactions. Real estate loans could have their annual percentage rates reduced via free market competition introduced as crypto began to compete in what might be described as a centralized and monopolistic housing market run by banks. Reducing APR rates could create a more efficient housing market which might benefit consumers.

How is crypto going to do that specifically? Nothing you said there is enabled by crypto, you're just talking about a new competition source for loans that's denominated in crypto. There are already non-traditional loan sources that compete with traditional loans, but the fact remains that centralized loans from a bank are already the most competitive means for securing a mortgage. Crypto isn't going to make a loan more competitive than that because the it's not about what it's denominated in (fiat or crypto), it's about the terms of the loan dictated by the lender. Crypto isn't going to magically make lenders want to accept a lower rate of return on the capital they loan out.
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February 09, 2018, 08:14:36 PM
 #32

I am not sure of there is platform as of now that is using blockchain technology in housing. I know that there are real estate projects that are based from blockchain technology. Therefore, Housing markets also can be in decent technology.

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March 25, 2018, 09:03:41 PM
 #33

Is it possible to have a platform which lists all property + allows comments relating to the property to be associated? Also sales values and ability to just attach an offer if the owner were to ever be interested in selling.... does this make sense ?

In the past I think stuff like this has been illegal? but I think it could help housing market. You never would actually have to list a property for sale as such, you'd just visit this platform and in theory you'd see a range of offers currently on the table for your property (obviously subject to viewing).   I know people have to survey a house etc etc.  The purpose of the site/platform is purely for the intial meeting of potential seller and potential buyer - something estate agents charge for.

There are different ICO and project that already launched and done with the crowdsale, as i know there is ALTANT project that will be starting to list some properties this March of the present year. As blockchain is being so fast on rising, companies and project are targetting and creating new projects to improve the world in every aspect of the business. Real estate is one of the most popular business in the world that's why blockchain and ICO will not let that go.


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