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Are you confused about this new technology called blockchain? Do you spend hours wondering how is this chain created and why is it called blockchain technology? Why is it so special? What all industries are using it or can use it? If the answers to any of the above questions is yes, then worry not and keep reading. We will start with what is blockchain? And why is it making waves in the world of technology. Let's start with the definitions of blockchain for both layman and technocrats. In layman's language – Blockchain is nothing but an ever-growing secure, shared record-keeping system in which each user of the data holds a copy of the records, which can only be updated if all parties involved in a transaction agree to update. Now let's see what the same thing means in technical language – Technical definition: Blockchain in technical terms is a peer-to-peer, distributed ledger that is cryptographically secure, append-only, immutable and updateable only via consensus among peers. Too technical for you to understand? Worry not – it means the same thing as defined in layman language, but since it is for technocrats it has more technical terms. If you are still…
In 2009, a mysterious person (or persons) named Satoshi Nakamoto published a white paper that introduced the world to bitcoin-a digital payment system that eliminated the need for financial institutions. For the cryptocurrency to work, transactions would need to be recorded in a database known as the blockchain. In 2011, the first bitcoin "bubble" took place when a single coin reached a value of $31.00. In December of 2017, the value of a bitcoin reached a high of over $19,000.00, indicating the success of blockchain technology's first primary use case and opening the door to further innovation. This presents an opportunity in the commercial real estate space. Historically known to resist change, a new generation of startups are building applications on top of the blockchain that will disrupt the industry and force us to rethink the concept of value.     WHAT IS A BLOCKCHAIN? THE SIMPLE VERSION   Steve Weikal is Head of Industry Relations at the MIT Center for Real Estate. He also lectures and conducts research on innovative new technology and business models that disrupt the traditional ways of developing, transacting and managing real estate. Weikal describes the blockchain as a trusted, general ledger. "In a building, all the information (mortgage documents,…
Built by Berlin-based startup Quorum Control, Tupelo brings benefits of blockchain technology to the mainstream in the form of custom-built chain trees for ownership, with backing from groundbreaking Silicon Valley investment firm Initialized Capital. BERLIN (November 1, 2018) - Tupelo, the first ownership-based distributed ledger technology (DLT) platform, launched its TestNet today, opening a new, faster pathway for blockchain-like technology to be utilized in real-world applications. The platform is owned and operated by Quorum Control, a six-person startup of dedicated builders focused on driving DLT adoption. To accomplish its goal, Quorum Control sought and secured traditional equity investment from experienced and successful venture capital firms instead of undertaking  an initial coin offering (ICO) for funding. Quorum Control is committed to the development, testing and refinement of a new application of DLT that contains many characteristics of blockchains but includes a more efficient consensus algorithm. When Tupelo has been proven effective as a tool for real-world business applications--like real estate title insurance transfer and supply chain transparency--Quorum Control will undertake an ICO. Backed by Experienced and Proven VCs Led by Initialized Capital San Francisco-based Initialized Capital led Quorum Control's $2.9 million funding round, bringing well-established and influential Silicon Valley resources to…
imbrex and TruSet are partnering to collect and curate real estate contracts for each state using blockchain technology. TruSet's blockchain platform specializes in the collection of high quality reference data. Imbrex's real estate transaction closing room, Escrow Commons, is a transparent closing room where individuals on the buying and selling side of a real estate transaction can exchange transaction documents, clearly identify and assign action items, and process escrow, deposits and transaction funds. Both teams saw this as an excellent opportunity to employ TruSet's technology and community to advance the collection and curation of essential real estate data.   In the residential real estate industry, states use unique standards for purchase and sale agreements (PSAs). Some states, such as California and Colorado, do not require attorney involvement and contracts are standardized by local governments. In other states, like New York, where legal representation is more customary, contract frameworks vary. This lack of standardization creates confusion and inefficiencies in real estate markets and provides a tremendous opportunity for the large group of technologists and real estate agents around the country to curate the contracts using community consensus. Imbrex will utilize the TruSet community curated purchase and sale agreements for each U.S.…
I once again participated excellent Propteq: Europe event in London, which brings together a number of prop tech enthusiasts, entrepreneurs, investors and people from the industry in general. There was a number of well-run theme sessions, two of which I co-hosted. Having spent the day in the midst of exchanging ideas and discussing emerging topics, two of the things stood out: AI and blockchain. Even though arguably much hyped, these two will most likely have the most profound impact on the real estate industry than anything else before – or ok… maybe except for the electricity. What do I base my conclusions upon? I think AI is in its infancy but there are already working adaptations of machine learning. One can easily think repetitive transactions of similar character in great quantity, like mortgage applications, to be handled by an algorithm – and BTW, one of the biggest banks in the Nordics is already exploring of moving its mortgage application process into an AI assisted process, where the offer could be generated by AI and given automatically to the customer. Same goes for customer / service requests from a building, where an algorithm can combine a lot of data from building automation…
Yet another MIPIM is over. Thank you for the interesting discussions about real estate and proptech's new twists and turns – and of course huge thanks for the organisers for making it all happen! You might have heard my thoughts and comments from the casting videos I made at MIPIM – but to wrap it all up, here's my small recap of what went down in Cannes this year. Probably many participants noticed during the first days that technology has noticeably matured: more day-to-day activities take place and substantial companies like Schneider and Siemens are entering the industry. MIPIM Innovation Forum proved that real estate is now more or less about energy savings, smart buildings and IoT. Even though they were emphasized at the event, I still think they're not really on top of the game for the time being. I think everyone has heard about this and is probably talking about it – blockchain. The subject we all know, was of course highly discussed at MIPIM. There's no doubt that it will have a major impact on the development of real estate and property technology industries. One thing that really surprised me at MIPIM PropTech startup competition was the fact that…
Rare and exclusive conversation with Brad Greiwe, Co-Founder, Fifth Wall and Josh Stein, CEO, Harbor about Stein's pioneering new startup that is destined to be one of the leading platforms for blockchain technology in the real estate industry. New York, NY (May 8, 2018) -- CREtech (cretech.com), the leading event, content and connectivity platform for the commercial real estate industry, has announced that Fifth Wall's Co-Founder and Managing Partner, Brad Greiwe and Harbor's CEO, Josh Stein, will be the Keynote Speakers for CREtech San Francisco  on June 21. Fifth Wall is an investor in Harbor, a blockchain technology company that aims to revolutionize the world's largest capital market with innovation in crypto-securities compliance. Brad is currently the Co-founder and Managing Partner at Fifth Wall. Fifth Wall Ventures is the largest venture capital firm focused on technology solutions for the Built World. Fifth Wall is connecting the world's largest owners and operators of real estate with the entrepreneurs and innovators redefining how the world interacts with its physical environment. With $250M in assets under management, Fifth Wall is backed by CBRE, Lennar, Hines, Equity Residential, Prologis, Macerich, Host Hotels, and Lowe's Home Improvement. Fifth Wall invests in businesses from all sectors…
There's a lot of talk about the 4th industrial revolution and how we are moving towards the fusion of technology and people. It seems like everyone is talking about robotics, artificial intelligence, the blockchain, nanotechnology, quantum computing, biotechnology, the Internet of Things, 3D printing and autonomous vehicles. A quick Google of "Real Estate technology" reveals that, far from being a laggard, as it is often presented, the Real Estate industry is enthusiastically adopting technology to improve how it works. You only need to look at the activity in the PropTech space, and how this is updating the way our industry does things, to realize the opportunity that already exists. However, with all the buzz it's easy to get overwhelmed, so I'd like to focus on a single thing you can do today: save money through process automation. And specifically, through robotic process automation (RPA) delivered on an as a service basis: the Robots as a Service. Staffing costs -- both salary and other ancillary costs -- form a huge part of a company's monthly operational costs. But unfortunately, companies often don't get the maximum value out of all their employees. A recent YouGov survey showed that more than nine out…
At the CRETech Conference last week, Brad Griewe of Fifth Wall Ventures and Josh Stein of Harbor discussed the three main values of a fractional ownership of real estate as being: Liquidation Premium Opportunity for Foreign Investment in US Real Estate Real Estate As The Best Way to Generate Wealth While the three items can provide value to existing real estate owners, the tokenization of real estate is bad for retail investors and makes real estate even less accessible for wealth generation. Liquidation Premium The liquidation of an asset from a private asset to a public asset is a one-time event. Once it is public, the shares of the asset have already had the price of the liquidation premium priced in. Similar to a stock IPO, once the stock is public, a retail investor does not gain any advantage in value from the liquidation premium. Additionally, private investors would need to compete with public investors to acquire real estate assets. This opposition will make it harder for private investors to purchase properties because, while they plan to keep the asset private, public investors plan to generate value by liquidating the property. Opportunity for Foreign Investment in US Real Estate Much…
AnySizeDeals recently announced venture capitalist and billionaire Tim Draper will speak at the upcoming 2018 #InnovateCRE conference in New York. The conference, which will be held on September 12, focuses on the convergence of real estate and technology.  Draper will share his insights on Blockchain and Crytocurrencies, Startup Investing and his "Cal 3" initiative to separate California into three states. Draper has invested in numerous companies including Redfin, Tesla, SpaceX, Skype and Coinbase. Continue reading here
Credit card fraud…you hear about it all the time. It is the most common way for thieves to steal your identity.  How can you protect yourself? Credit card fraud will ruin your credit and any chances of getting a loan or line of credit.  Is there a system for credit fraud detection? Are there warning signs of fraud? How many credit card scandals have been exposed?  If you suspect you're seeing signs of credit card fraud, you need to do your homework.  Arm yourself with the knowledge you need to avoid becoming a victim. Read this guide on credit card fraud detection.  Credit Card Fraud Detection There are several types of credit card fraud from simple to extremely sophisticated. You will never be able to totally protect yourself, but you can lessen your chances of becoming a victim of credit card fraud. What is Credit Card Fraud? Credit card fraud involves the use of someone's credit card information for unauthorized purchases or a cash advance.  Existing credit card accounts can be "hijacked" and used to make purchases or get cash. This is known as an account takeover.  Another type of fraud involves using a person's information to open a new credit card…
CREtech Returns to San Francisco for its 5th year and continues strong growth New York, NY (June 22, 2017) - Nearly 500 commercial real estate professionals were on hand at the CREtech (cretech.com) July 21st event held at Bespoke, in the epicenter of downtown San Francisco. As CREtech's second largest annual event, this remains the premier West Coast event for the commercial real estate tech sector with professionals attending from across the United States, Canada, Europe, Asia and South America. Commercial real estate owners, developers, brokers, property managers, tenants, professionals in the construction, engineering, banking, startups, VC's and more attended. The after party was held at WeWork Embarcadero Center. "Our events keep scaling and the feedback keeps getting better and that is largely due to the quality of our speakers and the leading-edge startups that are on hand," stated Michael Beckerman, CEO, CREtech. "And CREtech San Francisco raised the bar big time! It was without a doubt one of the best events I have ever attended. The caliber of the speakers, the energy, the networking and the innovation on display were truly inspiring. Thanks to all those who attended and all those that are supporting this CREtech movement!" Beckerman concluded.…
FOR IMMEDIATE RELEASE         CAPITAL ENGINE LAUNCHES SAAS SOLUTION FOR CAPITAL MARKETS AND PRIVATE EXCHANGE PLATFORMS New York, NY. October 31, 2018 - Capital Engine™ a financial technology company moving Real Estate and Alternative Investments to the digital world, launched their customized SaaS solution to power white label Capital Markets and Private Exchange platforms. The SaaS solution, tailored for global business & regulatory needs, provides investment professionals and advisors with a secure, interactive environment to connect and exchange information about deals – from online syndication to debt and equity marketplaces. "Securities deregulation, banking disintermediation and innovative capital raising software like Capital Engine™ are leveling the playing field by giving more people online access to the USD10 Trillion alternative investment market," said Bryan Smith, Founder and CEO. "Our business model focuses on strategic partnerships with industry experts, in setting up online marketplaces and branded platforms using our software," he added. Smith has extensive global experience in the financial technology sector and in commercial real estate, as CEO of a public REIT. Capital Engine™ is raising seed capital for additional product development, build-out of our capital markets blockchain technology and staffing product and sales teams. Funds will also be used for the proposed acquisition of a…
 Altus Group Report Reveals Rapid Acceleration of PropTech Adoption and Rise of Disintermediation as Major Trends Impacting the Commercial Real Estate Industry in 2019  Automation, use of AI and disintermediating business models having major impact on CRE industry; growing number of CRE firms are directly investing in PropTech companies  TORONTO (January 22, 2019) – Altus Group Limited ("Altus Group") (TSX: AIF), a leading provider of software, data solutions and independent advisory services to the global commercial real estate ("CRE") industry, today released the latest Altus Group CRE Innovation Report. The report provides an outlook on technology trends impacting the global CRE industry and highlights the significant acceleration in adoption of property technology ("PropTech"), the effect of disintermediating technologies, as well as a growing trend of CRE firms investing directly in PropTech companies and startups themselves.  According to the report, which is based on a global survey of 400 CRE executives at firms with assets under management ("AUM") of at least US $250 million representing a total AUM of over US $2 trillion, driving efficiency through automation is a key priority for CRE executives, and the use of AI and machine learning is approaching a critical mass. CRE firms are automating…
Your Problem: Your a CIO that is having a difficult time separating the hype around blockchain technologies and the reality. He/she has been keeping 1 eye on this technology, but not fully sure exactly how it works, what problems it can solve for you, or even simply the best way to start using this technology for the enterprise.   Maurice Kenny's Solution: Maurice Kenny will help your CIO remove the hype behind Blockchain Technologies by identifying real world use cases that solve actual business problems for your company.  
New York, NY (April 6, 2018) -- CREtech (CREtech.com), the leading event, content and connectivity platform for the commercial real estate tech sector, announced today the launch of an ongoing guest blogging feature on the recently expanded site. Over twenty of the leading thought-leaders in commercial real estate technology will be blogging on CREtech.com sharing their views, insights and best practices with the largest audience in commercial real estate technology. Some of the topics covered weekly will include: Current macro trends in commercial real estate technology Data insights from landlords and brokers Blockchain and cryptocurrency Best tech marketing practices Perspective of CRE tech-focused brokers and landlords Investment strategies and trends CoWorking trends Platforms and marketplaces And all things tech   "Our goal remains to create the one platform where there the commercial real estate industry comes to discover all things tech," stated Michael BEckerman, CEO, CREtech. "With our expanded event series, comprehensive directory, hand curated daily newsletter and now our blogging feature, the CREtech.com website has more content and information than any other site in the industry," Beckerman added. Through this additional content, users of the site will gain insight from the powerful leaders in the sector. Some of the…
Largest Event Platform in Commercial Real Estate Tech Announces Leadership Board Featuring the Most Influential CRE Professionals in the Industry New York, NY (June 26, 2018) -- CREtech (cretech.com) the leading event, content and connectivity platform for the commercial real estate tech sector, announced their expanded CREtech Leadership Board, featuring the most important, impactful and active professionals in the CREtech community. The role of the CREtech Leadership Board is to assist the platform with content suggestions for their hugely-popular events, provide input on CREtech's overall strategy, offer insights on macro trends impacting the sector as well as to promote how the industry as a whole is embracing tech. The Leadership Board includes: Adam Stanley, Global CIO and Chief Digital Officer, Cushman & Wakefield Andrew Ackerman, Managing Director, Dreamit Andrew Tavakoli, Partner, RetailMatch Antony Slumbers, Co-Founder, PropAI Arteen Arabshahi, Principal, Fika Ventures Ben Liao, Managing Director, Techstars Brad Greiwe, Co-Founder & Managing Partner, Fifth Wall Brendan Wallace, Co-Founder & Managing Partner, Fifth Wall Bryan Koop, Executive Vice President, Boston Properties Charlie Kuntz, Innovation Officer, Hines Dan Spiegel, EVP Operations, Colliers International Darren Wesemann, Chief Innovation Officer, Berkadia David Goldberg, General Partner, Corigin Ventures David Knowles, Managing Director, Stanfield Partners Dominic Zabriskie, SVP…
When you hear the term World's Financial Center, you may think of New York , London, or one of a dozen skyscrapers that also go by the title. We believe Worlds Financial Centre is evolving; from a fixed location: as with most things; to a universal and immutable digital location on the blockchain, available for all to visit. WorldsFinancialCentre.com is well positioned to capitalize on the evolutionary changes taking place in Commercial property ownership. Investments are exiting high cost, fixed, depreciating physical assets and moving into appreciating, dynamic, global, digital assets. WorldsFinancialCenter.com isn't a single story, it's a fund of over 1500 premium, generic, Fintech segment defining domain names like AlgorithmTrades.com EquityIncomes.com Digitalindexfunds.com BTCshort.com  IPFSnodes.com & ContractScripts.com. Each is an opportunity to lay claim to a segment of the market by virtue of owning the .com address that best describes a core Fintech business activity. The average nine letter .com sold for $23,495 in 2016 (source - namepro). We own hundreds of 4 - 12 letter .coms. Our best are being developed into Fintech industry defining directories; following the successful model of Cars.com, 73% of which sold for 1.83 Billion in 2014 and apartments.com which sold for $585 Million. There is a digital "Land Rush" taking place on the Web, LasVegas.com recently sold for $90 Million, CarInsurance.com, $46 Million, just for…
New York, NY. April 8, 2019 - Capital Engine™ a financial technology company moving Real Estate and Alternative Investments to the digital world, launched their online marketplace for private capital markets and alternative investments, which has the potential to fill a massive gap in the US market in funding Regulation D 506 (c) based real estate, venture capital, healthcare, renewable energy (oil & gas), philanthropy and crypto projects. According to the Wall Street Journal, $2.4 trillion was raised privately in the U.S. in 2018, many via Regulation D Offerings and deals in form of private placements. The largest chunk of the private markets, raised at least $1.6 trillion for businesses last year, according to the Journal's analysis of more than 40,000 filings. The growth of private capital markets is fueled by companies eager to raise money without the regulatory burdens of going public, and by investors looking for new ways to score large payouts outside of the stock and bond markets. "Entrepreneurs seeking to raise capital have long aspired to offer equity stakes through a public offering of shares in their companies," says Bryan Smith, CEO of Capital Engine™ "but as many inevitably discover, the road to raising funds via public markets is…
For Sixth Consecutive Year CREtech Presents The Real Estate Tech Awards (#RETAS) Presented by JLL Spark New York, NY (May 1, 2019) - CREtech (cretech.com), the largest event, data and content platform in the commercial real estate tech industry, announced today that they are now accepting applications for the 6th Annual Real Estate Tech Awards (#RETAS). Sponsored by JLL Spark, a global venture fund transforming commercial real estate, the awards are open to any startup or technology company servicing the industry. The Real Estate Tech Awards (#RETAS) are the leading international award honoring excellence in commercial real estate tech, recognizing the most cutting-edge companies who have played an integral role in advancing tech in the industry throughout the year. Reflecting the tremendous growth and innovation within the sector, the #RETAS now award 25 Category Winners, five (5) Best-in-Class Finalists, and one (1) Grand Prize Winner who will be selected live at the CREtech East Conference in October.   Winner benefits include (varies depending on winner type): Branding and inclusion in press releases, email blasts and digital communications surrounding the #RETAS Complimentary conference passes to CREtech East Discounts and complimentary exhibit space at CREtech East Opportunity to do an onstage demo…
Could Zillow and CoStar soon be engaged in head-to-head competition for the online rental market? It's not as far-fetched as you might think.
With Blockchain, which is somewhat similar to Bitcoin, and other virtual currencies powered by the Blockchain technology, there is a real possibility of eliminating the need for trusted third parties when facilitating transactions by using smart contracts. These contracts make it possible to automatically verify and enforce real estate contracts without having any human involved. As a result, the need for real estate agents, inspectors, title insurance providers, and lenders is greatly reduced. Nick Szabo, a well-respected computer scientist, came up with the original smart contract concept during the 1990s. Originally, he provided an example using a vending machine. He…
The emerging technology known as blockchain has the potential to revolutionize the real estate industry. A blockchain creates a digital ledger shared amongst a computer network. Whenever an information change is proposed, all the authorized participants run complicated algorithms to verify the data’s legitimacy and approve the proposed transaction. This system allows authorized participants to update the ledger’s data without needing a central verifying authority.
Blockchain technology is poised to transform the real estate industry. Other nations have invested in the secure potential. Now the Cook County, Illinois Recorder of Deeds Office is pioneering its use in the United States through a partnership with startup Velox. The Office becomes the first government agency to experiment with blockchain`s potential for secure record keeping. "The Cook County Recorder of Deeds Office has been closely watching blockchain technology as the next-generation land records system, and we are excited to partner with a group that is actually interested in how this technology can work in real-world situations,"" said John…
If you've been paying attention, you've probably heard the term "blockchain" making its way around the conversation circuit over the past year or so. And for good reason. Blockchain is arguably the most significant technological development since the Ethernet.
It's been described as a technology that will ‘change the world'. Banks believe it could be the future of financial transactions, utilities hope it will modernise the grid and musicians anticipate that it could change the way they receive royalties without going through a record label. So
In my opinion, we are still at the very beginning of the “crypto/blockchain” era for commercial real estate. The far reaching implications of what that is and will be cannot be overstated. What I have tried to do in the last few weeks is give you a deeper understanding of some of the elements at
Blockchain: Changing the world, starting in New Jersey By James Barrood, NJTC, September 19, 2017 at 10:34 AM James Barrood of the New Jersey Tech Council.- (AARON HOUSTON) By now, you've probably heard that “blockchain will change the world.” Notwithstanding massive recent hype, it almost
By Turner Levison  Posted September 25, 2017  In Commercial Real Estate Commissions How Bitcoin & Blockchain Technology Are Changing CRE2017-09-252017-08-25http://commissiontrac.com/wp-content/uploads/2016/10/ctlh.pngCommissionTrachttp://commissiontrac.com/wp-content/uploads/2016/10/ctlh
The blockchain is a new and innovative way that people and companies can create, verify, and enforce transactions without a middleman or central authority. It’s essentially a decentralized ledger that records transactions chronologically. Transactions recorded on the blockchain can include the
As Bitcoin and other cryptocurrencies have been on fire for a large portion of 2017, focus has turned to blockchain, the underlying technology that powers these digital currencies. But blockchain technology has many more potential use cases and applications other than just serving as the fuel behind
What is BIM? Building Information Modeling, known in the industry as BIM, first emerged around 2002 and has rapidly increased openness and collaboration in the construction industry. BIM is a catch-all term for a range of software that allows multiple parties to access digital representations of
I know a lot of readers will roll their eyes at the title of this article, but if you’ve got this far, hey you are still reading! First, let me clear up a few common misconceptions about BlockchainBlockchain is not Bitcoin. Blockchain is not something used by nefarious underworld characters, at
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LONDON, Dec. 26, 2017 /PRNewswire/-- Download the full report: https://www.reportbuyer.com/product/4226790 The global blockchain market size is expected to grow from USD 411.5 million in 2017 to USD 7,683.7 million by 2022, at a Compound Annual Growth Rate (CAGR) of 79.6%. The demand for distributed
Ein dezentrales Datenverbundnetz, das die KI-Welt verändern wird SHANGHAI, 2. Januar 2018 /PRNewswire/-- Gute Nachrichten für alle Interessenten und Käufer von Kryptowährungen: Auf diesem sensationellen globalen Feld gibt es ein neues Netz mit dem Namen „Bottos" – ein dezentrales KI-basiertes
Over the past few months, blockchain has taken over the headlines. Industry specialists, serial entrepreneurs and influential technologists have not stopped buzzing over the long term implications of cryptocurrencies and decentralized systems. Though many predict an imminent bubble, there are many
Explore the function of blockchain in real estate through the lenses of capitalism and humanitarianism to understand its potential. Explore the function of blockchain in real estate through the lenses of capitalism and humanitarianism to understand its potential. Explore the function of blockchain
NEW YORK, Jan. 13, 2018 /PRNewswire/-- Blockchain-powered gaming platform TriForce Tokens is pleased to bring on board LDJ Capital Chairman David Drake as an adviser, strengthening its bid to revolutionize the multi-billion dollar online gaming industry with proven venture capital expertise. David
Do you notice how technological trends like blockchain, machine learning, and IoT are on everyone's lips? The aforesaid seems to be directly associated with the future; thus, how  can traditional businesses make sure they don't get left behind as the likes of Amazon transform themselves
Global property startup Propy is launching a pilot program with the city clerk's office in South Burlington, Vermont, where it is using blockchain technology to record real estate conveyance documents, that is, paperwork related to the transfer of property ownership. Propy CEO Natalia
Blockchain technology company Harbor raised $10 million in venture funding, in a deal that could have major implications for the real estate industry. Fifth Wall Ventures, a venture capital firm that specializes in real estate startups, participated in the Series A round along with Vy Capital and
  Harbor Aims To Revolutionize the World’s Largest Capital Market with Innovation in Crypto-Securities Compliance   Fifth Wall is excited to announce our investment in Harbor, the first blockchain technology company addressing the regulatory challenges of trading private securities on blockchains,
A small startup hopes to take on real estate portal giants such as Zillow and Realtor.com using the same tech behind cryptocurrencies including bitcoin and ethereum--though it has a long way to go. Propify, an Australian company that launched in January 2017, aims to use blockchain technology to
Entrepreneur William Skelley co-founded iFunding, an investment platform that helped pioneer real estate crowdfunding, in 2012. But the company quietly shuttered last year, while several other crowdfunding startups also fizzled. Now Skelley is trying to shake up real estate finance again, but this
With a friendly in person and then email invitation from Maria Seredina M&A and Partnerships at Zillow Group and Patrick Janson CEO ProDeal360 I attended the NYC Real Estate Tech Startups Winter 2018 Real Estate Tech Meetup – Blockchain & Crypto Now, I say I get invited to all kinds of stuff and I do but why single this one out? Well, of course, it’s the ever-mercurial topic of Blockchain & Crypto, add in real estate and I’m there. You might want to make sure you scroll all the way down just in case you think you may miss my “opinion.” The event was sponsored by Zillow, ProDeal360 CitrusByte The event was hosted by Rise NYC  If…
Recently, we found that, for 2018, the amount of money being raised by blockchain and blockchain-adjacent companies via traditional VC rounds is on pace to surpass 2017’s highs. But despite more than $900 million in recorded venture funding in 2017, and more than $375 million in known venture funding for the first two months of 2018 so far, traditional VC rounds — convertible notes seed, angel, Series A, Series B, etc. — now pale in comparison to ICOs in terms of dollar volume. Chances are that if you’re reading this, you’ve at least heard about initial coin offerings(better known by their initialism…
The co-founders behind Centrifuge have previously created an essential company with Taulia. Now, they want to do it again, but on the blockchain. Taulia is a supply-chain financing company. It has raised over $150 million and moves billions of dollars per day. 97 out of the Fortune 100 companies use it to improve liquidity when it comes to accounts payable. Let’s say you’re a big industrial company and you have a client that represents 50 percent of your revenue. If you want to meet your client’s deadline and manufacture everything on time, you need to start producing right now. But chances are this…
The blockchain technology that underpins cryptocurrencies could change the way property is bought and sold, experts say, and Sweden’s land registry authority is likely to become one of its pioneers. A Pioneer in Real Estate Blockchain Emerges in Europe
Latest blockchain applications could bring overdue change to critical, if unsexy, functions in shipping, real estate and…diamonds A blockchain-based ledger of 2.2 million diamonds can trace the journey of each stone from when it’s pulled from a mine to its purchase at a jewelry boutique. We’re now awash in “crypto” hype—cryptocurrencies like bitcoin and fundraising efforts like initial coin offerings. For every venture capitalist or technical expert, there’s a half-dozen hype men and fly-by-night startups making the entire space look like a 21st-century version of the Amsterdam tulip mania. All that noise has obscured the bona fide efforts involving the underlying technology, blockchain.…
The first title transfer via blockchain is, in all likelihood, in South Burlington, Vermont. The startup Propy prompted the local city clerk to accept a transaction via blockchain … Inman How America’s first blockchain property transfer took place
Duke Friggen Long! That’s kinda how we talk in Jersey :) We use words like “friggen.” And speaking of words and telling like it is, my friend Duke Long has never been one to shy away from saying what’s on his mind. And in my opinion, few people understand the world of commercial real estate and tech better than Duke. Literally, I think he was the first person I met in 2011 when I entered the commercial real estate tech space and we became fast friends and stayed connected ever since. While Duke clearly has strong opinions about A LOT…
Lightning Labs, a young, Bay Area-based startup, is trying to make it easier for users to send bitcoin and litecoin to each other without the costly and time-consuming process of settling their transactions on the blockchain. It has investors excited about its work, too. The company is announcing today that it has raised $2.5 million in seed funding to date from numerous big names in payments and beyond, including Square and Twitter co-founder Jack Dorsey,  Square exec Jacqueline Reses, serial-founder-turned investor David Sacks, Litecoin creator Charlie Lee, Eventbrite co-founder Kevin Hartz, BitGo CTO Ben Davenport and Robinhood co-founder Vlad Tenev, along with The…
Google is working on blockchain-related technology to support its cloud business and head off competition from emerging startups that use the heavily-hyped technology to operate online in new ways, according to people familiar with the situation. Companies use blockchain and other so-called digital ledgers to securely record transactions and process other data over the internet -- a service Google could use, for example, to reassure customers that their information is protected when stored on the giant network of computer servers that power its cloud services. The Alphabet Inc. unit is developing its own distributed digital ledger that third parties can use to…
SAN FRANCISCO, March 22, 2018 /PRNewswire/-- Blockchain Capital, the premier venture capital firm focused exclusively on the blockchain technology sector and crypto ecosystem, today announced the closing of Blockchain Capital IV, LP a $150 million fund. This is the firm's largest fund raised to
The deal was worth an unsuspecting total of $10, but what it represents could disrupt the entire real estate industry worldwide. The deal was part of a pilot program between a county in Vermont and San Francisco-based startup Propy, which is developing a blockchain-powered registry for real estate transactions. Blockchain technology allows for nearly instantaneous peer-to-peer transfers between networks anywhere in the world and tracks all transactions through an encrypted electronic ledger. It is best known for facilitating transactions with cryptocurrencies, like Bitcoin, however Propy’s engineers are developing a registry for all aspects of real estate transactions (powered by the…
As if facing off against WeWork in the flexible office market isn’t enough, Knotel is now going after property data behemoth CoStar. The New York-based startup plans to launch an online office listing data platform dubbed KnotelKoin, according to an email the company’s founder Amol Sarva sent to acquaintances and business partners Thursday. The platform will be based on blockchain technology: participants can add and verify information about particular office spaces through a peer-to-peer ledger system. Users who add information to the blockchain (for example the size of a space or its rent history) are rewarded with digital tokens, whose…
SAN FRANCISCO — Worried about someone hacking the next election? Bothered by the way Facebook and Equifax coughed up your personal information? The technology industry has an answer called the blockchain — even for the problems the industry helped to create. The first blockchain was created in 2009 as a new kind of database for the virtual currency Bitcoin, where all transactions could be stored without any banks or governments involved. Now, countless entrepreneurs, companies and governments are looking to use similar databases — often independent of Bitcoin — to solve some of the most intractable issues facing society. “People…
WASHINGTON, DC–Quietly and with almost no fanfare, last month blockchain startup Propy scored a coup for the technology industry and the real estate space in one transaction: the first government sanctioned blockchain recorded real estate deal in the US. The transaction happened under a pilot program that launched at the start of this year between a county in Vermont and the San Francisco-based company, which is developing a blockchain-based registry for real estate sales.
Salesforce has always been a company that is looking ahead to the next big technology, whether that was mobile, social, internet of things or artificial intelligence. In an interview with Business Insider’s Julie Bort at the end of March, Salesforce co-founders Marc Benioff and Parker Harris talked about a range of subjects including how the company came to be working on one of the next hot technologies, a blockchain product. Benioff told a story of being at the World Economic Forum in Switzerland where a bit of serendipity led him to start thinking about blockchain and how it could be used as part…
Who would have thought that the idea of collecting tokens in video games would eventually inspire the hotel industry to do the same?  Wiki Commons/DARPA Millennials innately understand the backbone of cryptocurrency — and they are the next wave of consumers. “They are the digital native,” Chairman and CEO of Brillembourg Holdings David Brillembourg said. “How they relate to brands and their brand loyalty is very different.” Seeing this trend emerging, Brillembourg created STEP, a blockchain protocol designed to decentralize the coordination of travel goods and services, starting with hotel room nights. STEP stands for Simple Travel Ecosystem Protocol. It…
Real estate transactions move at a snail’s pace in the U.S., with ownership tracked on pieces of paper. But crypto startup Harbor thinks it has found a way to turn real estate into a liquid asset with digital, tokenized securities. The San Francisco company announced $28 million in new investment, led by Peter Thiel’s Founders Fund. Andreessen Horowitz and crypto investment firms Pantera Capital and Craft Ventures also invested. Harbor had already secured $10 million in funding in February, and it has collected $40 million to date. David Sacks, a PayPal cofounder and former Zenefits CEO, came up with the…
SAN FRANCISCO — Gary Gensler was one of the top financial regulators in the Obama administration, the finance chief for Hillary Clinton’s 2016 presidential campaign and, before both of those jobs, a partner at Goldman Sachs. Now, like many other big names from business and government, he is plunging into the world of the blockchain, the data-tracking technology introduced by Bitcoin. Mr. Gensler, 60, has recently gone to work at the Massachusetts Institute of Technology, where he will write and teach about the potential he sees for blockchains to change the financial world. He will also use his position to…
On Tuesday, Facebook Messenger head David Marcus announced that he's leaving his current role to explore the use of blockchain technology within the company. "I'm setting up a small group to explore how to best leverage Blockchain across Facebook, starting from scratch," Marcus wrote in a post published to his Facebook page.
New York City officials have chosen to stop worrying and love the blockchain. Their counterparts at the state level, however, still haven't unchained their hearts. The city's Economic Development Corp. announced today that it will open a Blockchain Center, where believers in the technology that powers Bitcoin and hundreds of other cryptocurrencies can meet in a friendly space to pursue their passions and maybe hook up with investors. The city also said it will sponsor a competition this year, with prizes for people who cook up ways to make blockchain more useful for governments.
Blockchain technology is the new buzzword in commercial real estate despite having its foundation in cryptocurrency like Bitcoin. For brokers who barely understand cryptocurrency, the idea of applying the concept underlying virtual currency to commercial real estate seems overly complex so here we try to make it as simple as possible to understand. Everything You Need in One Virtual Package In essence, the goal is to assign what is known as a “digital address” to every piece of property from commercial to residential secured in an open format database. Each address will contain information about the property that is needed…
New York City Economic Development Corp. President and CEO James Patchett says the city is looking to tap into the growing blockchain industry by establishing a resource center and launching a competition to foster the creation of new applications.
Although bitcoin and blockchain technology may not take up quite as much mental bandwidth for the general public as it did just a few months ago, companies in the space continue to rake in capital from investors.
From the outside, 304 Troutman Street in Bushwick, Brooklyn, looks fairly ordinary. In most ways, it is. But this nondescript three-story, five-unit rental building is part of an experiment in using the blockchain technology behind Bitcoin to transform the New York housing market.
From the outside, 304 Troutman Street in Bushwick, Brooklyn, looks fairly ordinary. In most ways, it is. But this nondescript three-story, five-unit rental building is part of an experiment in using the blockchain technology behind Bitcoin to transform the New York housing market.
I’m a strong believer in the potential of blockchain technologies. The concept of providing trust using a distributed network rather than a central authority is compelling and has the potential to bring benefits to finance, digital rights management, voting systems, supply chain management, and many other areas.
For every real estate deal Knotel does, company founder Amol Sarva estimates 2% of its value is taken up just verifying information. “Let’s just say we are looking at a property in [the] Financial District,” said Sarva, whose flexible office company now has around 50 locations in New York City, with more to be announced. “[We want to figure out] — ‘how big is it, what’s the floor plan, what’s the shape? Who was the last tenant in the space?'" It is not “top secret stuff” but rather a “messy pile of information,” Sarva said. His answer is KnotelKoin. The platform — which…
Blockchain’s distributed ledger system is a more secure method of transferring property ownership. Implementing the blockchain to transfer real estate ownership is another matter. Obstacles stand in the way of moving from the current paper-based process to a digital system. What are some roadblocks and how could they be overcome? 1) Government Legislation Jurisdictions, local to federal, may need to overhaul their regulations. These include changing existing legislation concerning the acceptance of digital signatures to new regulations on data protection and access. Governments implementing data-based archives of property ownership may still require paper copies and their accompanying processes, continuing to…
The dictionary definition of blockchain is “a digital ledger in which transactions made in bitcoin or another cryptocurrency are recorded chronologically and publicly.” Clear enough, right? Well, not exactly. In front of a packed room on the second day of MIT’s World Real Estate Forum the question was posed: how many people have heard of blockchain? Nearly every hand in the room was raised, a difference from what was observed just a mere 2 years ago. But, when the question was posed about who really understood blockchain, less than half of the room raised their hands. As Avi Spielman, an…
Bitcoin, the cryptocurrency that made blockchain a household word, has come and gone from news headlines. But companies using the decentralized networking technology are taking root and grabbing up city office space. Consensys, the firm that developed the cryptocurrency Ethereum, has expanded its home base in Bushwick, Brooklyn. The firm recently grew its headquarters at 49 Bogart St. and has taken additional co-working space at 100 Bogart, a spokeswoman said. Doruk Akpek, a product manager at Consensys, said the company has been creating specialized cryptocurrencies that are tied to specific neighborhoods and can be used to incentivize shoppers to visit…
R3, a blockchain-software company that works with more than 200 heavyweights such as Intel Corp., Microsoft Corp., US Bancorp and Wells Fargo & Co., is considering going public, according to people familiar with the matter. The company is speaking with advisers about a initial public offering, although no final decisions have been made, said the people, who asked not to be identified because the deliberations are private. It has also been approached by potential buyers, one person said. Founder and Chief Executive Officer David Rutter, along with R3 investors such as Intel and Bank of America Corp., will decide its…
Boeing says it’s aiming to create a traffic management system for drones that makes use of artificial intelligence, blockchain technology — and one of the companies in its investment portfolio. SparkCognition will be Boeing’s partner in the traffic management project. Last year, the Texas-based AI company benefited from a $32.5 million investment round that included funding from Boeing HorizonX Ventures. Boeing is also creating a new business group, known as Boeing NeXt, to leverage the company’s research and development activities and investments in areas such as autonomous flight, smart cities, advance propulsion and other parts of the wider transportation ecosystem.
Another day, another blockchain project. This time sources are reporting that Knotel  – an office space rental service in Manhattan – has acquired 42Floors,  a commercial real estate search engine in order to, according to founder Amol Sarva, get “access to data and technology on over 10 billion square feet of office space, driving further liquidity to Knotel’s marketplace while also accelerating its plans for a blockchain platform.”
The blockchain is in the middle of a major hype cycle at the moment, and that makes it hard for many people to take it seriously, but if you look at the core digital ledger technology, there is tremendous potential to change the way we think about trust in business. Yet these are still extremely early days and there are a number of missing pieces that need to be in place for the blockchain to really take off in the enterprise. Suffice it to say that it has caught the fancy of major enterprise vendors with the likes of SAP,…
If money talks, it’s saying venture capitalists see real potential for blockchain technology across industries. Nearly halfway into the year, VCshave poured $1.3 billion into blockchain companies, more money than the total for 2017. Commercial real estate applications are clear: property title management, pre-lease due diligence process, payment processing, and lease management are a few areas standing to benefit from blockchain application. The transparency and cost-saving disruption that could occur will change CRE deals forever. That said, who’s working on blockchain in CRE? Chainalysis Trust is essential for blockchain’s adoption. Chainalysis understands this and is working with people, governments, and…
WeWork competitor Knotel announced Monday its acquisition of commercial real estate search engine 42Floors. Knotel, a flexible office provider for larger, more established companies, was founded in 2016 but has snapped up more than one million square feet of office space to build into more than 60 locations since. The acquisition will give Knotel access to data on 10 billion square feet of office space, according to a Knotel press release, and will further the firm’s plans for a blockchain platform named Baya. The news follows Knotel’s June acquisition of German workspace operator Ahoy!Berlin, which reflected the company’s push into the European…
NEW YORK (Reuters) - Foreign exchange settlement provider CLS, IBM (IBM.N) and nine financial institutions, including Barclays Plc (BARC.L) and Citigroup Inc (C.N), are testing a platform to access blockchain-based applications, the companies said on Monday. The platform, LedgerConnect, will offer applications and services provided by different vendors in areas such as customer compliance checks, sanctions screening and collateral management, the companies said.
The country’s first blockchain-only real estate trade involved 10 acres of land just north of Los Angeles County. The sale was made through a platform developed by Palo Alto-based real estate startup Propy. The company’s platform records the information of the sale — the purchase agreement, payments, and other essentials — on the public Ethereum blockchain. The amount was unknown.
Blockchain technology—the technology behind crypto currencies—could change the real estate market, but the industry has been slow to adopt it. That is because some myths have perpetuated dangers of the technology, but Natalia Karayaneva, CEO of Propy, a global real estate marketplace that has completed transactions using blockchain technology, says that many of the myths and dangers associated with blockchain are false.
As Europe nurtures its ambitions to be a leader in blockchain, the new technology is making small but significant inroads into its real estate markets.  From Sweden to Spain to the UK, more private companies – as well as public bodies – are turning to the fledgling technology, which acts as a shared digital register for transactions made in bitcoin or other cryptocurrencies. By connecting data sources, documents and other types of information, blockchain can improve security, efficiency and transparency within transactions.
John speaks with Jason Freedman, who is the General Manager of 42 Floors at Knotel. In this interview, Jason unpacks the rapidly evolving market for flexible commercial real estate and how a community of landlords, tenants and service providers is using blockchain to change how commercial real estate deals are done.
Blockchain technology holds the potential to change how builders hire and pay subcontractors and suppliers, but the how of the technology is less important than why it is needed in the industry, says the founder of BuilderChain, a company setting out to drive some of that change.
Blockchain Show, Season 1, Episode 2 – 29m On our new Blockchain show called Off the Block, host Steve Nson, CEO of AnySizeDeals interviews Michael Beckerman, CEO of CREtech. Click here to watch!
A European private equity firm is working toward setting up the first blockchain real estate fund. Peakside Capital has teamed up with blockchain specialist Brickblock to launch a fund that will be "tokenized" — meaning investors will receive virtual tokens accessible and tradable via a blockchain, rather than traditional limited partner units.
A local tech startup is partnering with real estate giant Re/Max to figure out how to use blockchain technology for buying and selling property in Mexico. The startup, once called XY Findables but now going by XYO Network, specializes in grabbing location data and storing it on the blockchain. The company said Re/Max is brainstorming several applications for the technology, including how to build an unhackable online land registry that would allow buyers, sellers, brokers and other agents to see who owns what in Mexico — and review details about each parcel of land.
Latham & Watkins has become the latest major firm to join the Global Legal Blockchain Consortium (GLBC), a group of industry stakeholders focused on ‘enhancing the security, privacy, productivity, and interoperability of blockchain technology’ for the legal market. Its membership now means there are 125 large companies, law firms, software pioneers, and universities – across 20 countries – that have joined the GLBC to develop standards to govern the use of blockchain technology in the law.
It’s no secret that everyone from small startups to major corporations is jumping on the blockchain trend. As tech giants like Facebook explore blockchain as a means to reinvent themselves, startups are working on blockchain projects that could displace services like AWS (as with Filecoin) or loosen tech companies’ hold on personal information.
SAN DIEGO—Blockchain technology has the potential to fundamentally change commercial real estate. So said panelists at the recent CREW Network and Marketplace Convention here in San Diego.
For Stephane De Baets, placing a percentage of the St. Regis Aspen luxury resort on the blockchain is an experimental gamble into the future. “We wanted to be one of the first to go through the motions because you learn so much,” De Baets said. “We see [blockchain] as an opportunity if you do it right.” It is always risky to walk out on the bleeding edge of a new trend — and blockchain-fueled investments are one of the hottest trends to hit the commercial real estate market in a long time.
If you think of blockchain, you might think of data, secrecy or decentralization. But its primary purpose was to act as a digital time stamp and was first used in 1992 by Haber and Stornetta to create a verifiable audit trail. Back then time-stamping was incredibly useful in their scientific space, where ideas were currency and you needed to protect them.
SANTA ANA, Calif., Nov. 28, 2018 – First American Financial Corporation (NYSE: FAF), a leading global provider of title insurance, settlement services and risk solutions for real estate transactions, today announced the launch of a shared blockchain system designed by First American to increase efficiency, reduce risk and improve the title production process. The system is intended to facilitate the exchange of prior title insurance policies between underwriters that contribute to the system.
Real estate’s much-anticipated affair with blockchain technology seems to be becoming a reality. Just as investors in real estate investment trusts can buy shares that represent an ownership stake in a piece of large trophy assets, a digital security token offering functions much the same way. The difference for tokens is that distributed ledger technology is used to record the transaction, and any subsequent transactions on a blockchain.
New York isn’t giving up on the digital-ledger technology that makes Bitcoin and other tokens work even after last year’s collapse of the cryptocurrency market. The New York City Economic Development Corporation said its Blockchain Center in Manhattan will open Thursday a part of a partnership with affiliates of venture-capital fund Future\Perfect Ventures and the Global Blockchain Business Council, a trade organization. The city may also start testing the use of blockchain technology in the fall.
Blockchain technology could have a major effect on the real estate industry, from property purchasing to due diligence to title management. We identify the early adopters and potential impact. The real estate industry is undergoing a digital transformation. While historically a “pen and pencil” business — often relying on inefficient and archaic methods for doing business and keeping records — technology has begun to help reshape the expanding global market.