2019 The Year Real Estate Blockchain Leaps into Reality

New York-based cryptocurrency firm ShelterZoom plans to make 2019 the year they break out into the global scene with plans to launch a real estate application. The said app will let buyers and sellers close transactions while operating on a blockchain-based network, Computer World revealed.

Blockchain has been receiving accolades for its 'wonders,' such as making it easier to buy a house with only the tap of a screen or the click of a mouse. The ShelterZoom-powered app will be live early in 2019, allowing buyers, sellers, and real estate agents to keep track of potential transactions, offers, and acceptances of deals in real time.

The blockchain-powered real estate ledger is backed by Ethereum. It will let clients and agents alike access property titles and related documents, helping them make the most out of technology. Chao Cheng-Shorland of ShelterZoom confirmed the big leap into more blockchain involvement during the early months of 2019.

The start-up has put up a pilot application for real estate firms to test. For the past months, it's been tested worldwide for various bugs and hitches. So far, 90 brokerages have had a taste of what it's like to do transactions over the blockchain network.

Blockchain has been doing well enough for applications offering ease-of-doing-business transactions to flourish. There have been countless applications that have offered anywhere from security in payments and refunds, data sharing through digital means, and instantaneous confirmation.

The apps and their applications in the real world have been endless so far, Invest in Blockchain reported. There's Rentberry, a rental app that has been active even before blockchain became a 'thing.' Atlant is another app that's focused on creating ownership in tokenized form and P2P rentals a thing by shipping it to the blockchain.

Bee Token has a vision on taking the best practices from Uber and Airbnb and translate it into the P2P technology of blockchain, while Ubitquity is seriously considering becoming the world's foremost application for blockchain-based real estate record-keeping. These four combined represent blockchain's best and brightest-at the moment-or even a slice of what makes blockchain the next-generation technology that it is.

No doubt that blockchain is digitally disrupting processes at the moment, but it is the future. Real estate transactions will never be more secure as it is when done on the Ethereum platforms that these apps represent.

© 2019 Business Times All rights reserved. Do not reproduce without permission.
Sign Up for Newsletters and Alerts