Blockchain had presented itself as a solution to traditional problems in business. Real estate companies have benefited the most out of any other business, in that blockchain security allows them to keep their secrets. However, why are blockchain startups showing their cards early, as reported by Espeo Blockchain?
Blockchain's transactions are made more secure because of its presence on the Web. There are almost always a lot of witnesses which can confirm transactions. Each transaction is available on a secure ledger that is kept on a single computer, Forbes showed in an analysis. This accounts for the added security, as well as proof that a transaction really happened between two parties.
Bitcoin is another benefit that most startups have offered. Properties can be shared between investors in a non-traditional sense; most of them can be broken down into different shares, with one property being shared normally between investors. This has resulted in a disruption in real estate investment never seen before.
It's still a bit too early to say that real estate and blockchain work with each other seamlessly. A few startups, however, have led the way at the forefront. These are Propy, Harbor, ShelterZoom, and Streetwise.
Propy has started with an ICO that garnered investments amounting to $15 million. It was founded in 2015 and helps investors buy property through blockchain in different locations. As time goes by, its investors are expected to grow, so the early adopters are expected to be well-rewarded for their foresight.
Harbor, meanwhile, launched in 2017 with $38 million in investments, larger than Propy ever had. It has all but cornered the North American blockchain property market, and enjoys a partnership with Ethereum ERC20. This also allows the startup company to sell off Ethereum blocks as security.
ShelterZoom offers a basic, easy-to-use platform that gives investors more than an education into how the blockchain property market works-it gives them a doorway into which they can enter property trading through blockchain. The company is also looking at options related to Ethereum-backed blockchain transactions.
StreetWire offers a 'clearing house' where real estate data and transactions are made available. It helps that people can find what they're looking for in StreetWire, as it has made it its goal to 'decentralize' data from those transactions. The startup also hopes it can provide more streamlined processes to investors.
Whatever the reasons are for investments, these startups aim to make it easier for new players in the real estate market to flourish.