Exclusive minutes from Propteq Europe 2018 session on Blockchain: Transforming Real Estate.
Blockchain PropTech startup founder from Russia: Blockchain is a ledger where you can’t change the information once it is written. It is a system that ensures transparency as you remove the middleman. We are in the beginning stages of providing information on rent prices, and land registry on the Blockchain.
Blockchain PropTech startup founder from Switzerland: Blockchain is a trust machine which enables people who don’t know each other to transact, without a central authority.
Blockchain startup founder: In Estonia digital identity is already on the blockchain.
Attendee: UK Land registry on the blockchain will not be implemented as fast as we predict as the government takes time to adapt. Entry of government records are not open to the general public, so there is an increase in cost and time.
Blockchain PropTech startup founder from Switzerland: Don’t look at Blockchain alone, in Switzerland we issue a commercial property security which has a lower investment fee and opens the potential for this technology in commercial real estate.
Attendee: If you can tokenise real estate investment, you will make the investment process easier. A real estate broker can issue a token to a fund. The broker can monetise their knowledge to flow money into real estate since they have sources of information.
Attendee: Liquidity is premium in an equity token.
Blockchain PropTech startup founder: The EU and business will put pressure on Blockchain technology and it’ll be interesting to see in which direction it goes.
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