Real estate has been one of the most inefficient industries. But thanks to blockchain, the evolution with innovation in this industry is taking its leap. Blockchain, as we know has an infinite amount of applications. One of them has been recently discovered in the real estate industry.
The ability of the blockchain technology to provide decentralisation makes this possible. The amount of money being spent on the outlined project has been tokenised thus people can own the property as per their financial ability in the form of tokens and the money gets used to resolve the debts.
There are no banks involved as well as no middlemen. Every single dollar is fundamentally transparent and is being recorded on a public ledger.
The people behind this offering is a startup known as fluidity. which comprises of motivator, coders, lawyers, facilitators, project manager, Cofounder, and most importantly a fan. owning a part of the real estate tokens and helping the project to grow.
The employees working in the startup rigorously code the smart self executable contracts which are the foundation of understanding and trust-less blockchain ecosystem.
During the tokenisation, the investors can buy tokens as per their financial capability. These tokens can be preserved or can be sold again or can be withdrawn in a form of hard cash thus allowing the liquidity of assets similar to bitcoins.
Blockchain in real estate seems promising. What do you think about it? let us know in the comment section below.
Also read how Blockchain is taking over.