How do you solve the problem of fraud in the world of this very vulnerable real estate?
Thank you and here is more info from our white paper:
Failure to conduct due diligence checks and verify data can lead to tremendous losses. The CRE market in the US alone amounts to $15 trillion9. Unsurprisingly, the industry is being threatened by all the new types of fraudulent activity that appear each year. Here are just a few examples of the widespread problems that CRE professionals are struggling to address:
money laundering;
fraudulent deed conveyancing;
fake financial reporting;
concealing failed compliance checks and avoiding oversight;
misappropriation of funds;
bid rigging;
misleading documentation;
inflated expenses;
manipulative information, etc.
How will AgentMile address these issues?
As the incorruptible public distributed ledger, the blockchain behind AgentMile automatically eliminates most of these activities and makes it harder for fraudsters to come up with new ones. Since digital records (i.e., blocks) are incorruptible and can never be modified, brokerages that have adopted AgentMile will be able to achieve the transparency and efficiency they have been struggling to build with cumbersome systems and approaches.
More specifically, the blockchain-powered AgentMile platform will allow digital identities of people and properties, so that due diligence can be performed upfront with near-perfect accuracy.
Finally, digital identities on our platform will consolidate property/owner/tenant profiles and all associated data. This will not only accelerate due diligence checks but will also help to avoid human error.