Real estate and the blockchain
Real estate transactions are complex. In addition to the buyer and seller, the land registry, a bank, the notary and the relevant tax office are usually involved in the process. Smart contracts and the Elrond blockchain make processes simpler, more transparent and more secure.
Blockchain & Databases
Real estate directories bundle data and information on location, rental price, capital value, property history, and much more. The problem: susceptibility to error.
With the Elrond blockchain, data can be collected via a peer-to-peer network. Brokers, sellers, authorities, statistics offices, and all stakeholders involved thus have full control. Trust in the data base is strengthened.
The use of artificial intelligence and predictive analytics can further facilitate decision-making. New, exciting online business models can emerge.
Blockchain & Broker
A key advantage of blockchain is the elimination of intermediaries. As such, the technology is diametrically opposed to the interests of a broker.
Currently, buyers, and sellers of real estate often rely on brokerage services to conduct the real estate transaction – high broker fees, not infrequently in the five-digit range, included.
For brokers, the blockchain poses a high risk of disruption. Existing business models need to be rethought and made more customer-oriented.
The Elrond blockchain for the real estate industry
The potential applications of the Elrond blockchain for the real estate industry are as diverse as they are visionary. You too can rely on the technology of tomorrow.
Blockchain & processing
The purchase or sale is a done deal? What may take several weeks can be completed in just a few minutes with smart contracts.
All information on the building permit, land charge, loan agreement, ownership and tax liability can be stored tamper-proof in the Elrond blockchain. Changes to the land register entry are made automatically when the seller receives the purchase price.
Automating the transfer of property should noticeably reduce inspection costs, notary fees, property taxes, and registration and loan fees.
Blockchain & digital leases
Smart contracts can define and regulate rental relationships. For example, the rent can be automatically lowered or raised – depending on the agreement in the lease.
If an apartment is not handed over in the agreed condition, the rules are predefined in the smart contract. This creates clarity for tenants and landlords and protects against payment defaults and rent nomads.
Fraud in real estate trading is a thing of the past. Encryption and verification make down payments, sales, auctions, or escrow processes much more secure.
Blockchain & Smart Homes
Smart home devices for controlling climate technology, shading, and lighting increase domestic comfort and reduce operating costs.
The Elrond blockchain is the optimal technical basis for smart solutions in the real estate sector.
Blockchain & Real estate management
Real estate managers will benefit from blockchain solutions in the future.
Renting apartments and parking spaces will become easier, and billing methods will become more transparent.
Models are also conceivable that transfer parts of property management to the responsibility of the owners with the help of smart contracts.
Blockchain & digital identity
The effort required to compile and keep up-to-date the documentation needed for real estate financing is considerable.
The Elrond blockchain is the optimal technology for documenting the purchasing power, job history and family situation of potential buyers securely and anonymously.
In this way, loan requests can be automated and approvals or rejections from lending institutions can be accelerated.
More about the Elrond blockchain
The Elrond blockchain will revolutionize the real estate industry. We show you why!
Elrond is a high-performance blockchain technology based on the proof-of-stake consensus mechanism. It was developed to eliminate vulnerabilities of other blockchains. Actually, we claim that Elrond is the best blockchain technology in the world.
Would you like to learn more about the potential of the Elrond blockchain for your company? Our experts will be happy to advise you. Free of charge and without obligation.
Advantages of the Elrond blockchain
Let's talk about Elrond and real estate.
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