<center></center> I said for a while now that, in 10 years, almost all commerce will be done on the blockchain. There are simply too many advantages to it over the traditional centralized system. Real estate is one of the largest parts of most economies. In the U.S. it, along with construction, can reach as high as 40% of the total GDP. This industry generates trillions each year. Unfortunately, both the entire real estate sector is very similar to how it was decades ago. There are a few advancements but nothing radical. That is going to change with newer technologies implemented. In my opinion, virtual reality could really affect this market. Another is autonomous cars and what that does to people's decision of where to live. The other one is blockchain and that is already underway. On February 20th, Vermont completed its first real estate transaction on the blockchain. In fact, not only was it the first for Vermont but also the entire United States. This is a monumental breakthrough. Blockchain makes all processes easier and more streamlined. At present, most financial transactions have "friction" since there are so many layers to go through. This causes not only higher prices as each layer takes a piece of the action but slows things down. Eliminate those in the middle and you speed things up. The deed is stored on the Ethereum blockchain using a smart contract. It is not different than any other transaction on there. https://www.inverse.com/article/42072-vermont-real-estate-deal-first-in-us-to-blockchain People find some of the numbers thrown out about the values of blockchains to be unrealistic. The challenge is getting people to understand that we are starting to see the shift where hundreds of millions of transactions (even billions) will take place on the blockchain. This means that those networks will be extremely valuable. When you are looking at most of the world GDP being run on blockchain, this increases the valuations significantly. I like that this company, Propy, is using a public blockchain to do these transactions. That is the golden nugget. Startups that gain traction using the public networks will set the agenda. We are already witnessing the idea of the banks and other entities trying to set up centralized "blockchains" they control. This is going to happen for the next half decade as they try to hold onto their place in the world.  We must all seek to use decentralized public blockchain as much as possible. This is where the true revolution takes place. Operation on these networks increased the traffic (and value). It is also where we assist in the shift away from the central bank issued currencies. This real estate transaction, at least the filing part, used ETH as the form of payment. The USD was not involved in it at this level. Is this disruptive? Absolutely. Think of what this will do to title companies, as an example. Will anyone need to do a title search when this woman sells the house? It is all there on the Ethereum blockchain for all to see. When the title changes hands again, the new smart contract will reflect that creating a public trail that anyone can follow. The story exemplifies another aspect of blockchain that people confuse. Many are stuck in the mindset of "competition". This is normal since the banksters put it there. However, this company is using Ethereum for business. Do you think they are suddenly going to pick up and move their business? Also, we know ETH is a slower blockchain compared to STEEM and BTS, yet does it matter? How long would it take for a title filing under the normal circumstances? Does it matter if this transaction takes 5-10 minutes to be completed? As millions of people set up businesses on blockchain, we are going to see them all used for different purposes. Ultimately, through interoperability, we are going to see people being able to move back and forth between the different blockchains. Perhaps EOS starts the process on this end. It is an exciting time to be involved in this arena. We literally are watching the world change before our eyes. If you found this article informative, please give it an upvote and resteem. ___ To receive the free basic income tokens you are entitled to and help end world wide poverty, please click the following: <center>[Click For Manna Coins](https://www.mannabase.com/?ref=fbt5zz3bfh)</center> <center>In full disclosure this is a referral link</center>  Pictures by Google Images
author | taskmaster4450 |
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permlink | real-estate-take-over-by-blockchain |
category | realestate |
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Buying property is such a huge hassle! I've now purchased property in two different states in Australia, and now in the United States as well... all the laws are different, all the processes are different... and as soon as you buy a house, everyone is out to make as much money from you as possible... if property prices didn't rise by so much, it would almost be impossible to make any money off property because everyone is out to get you... I honestly hope that the blockchain streamlines the process and takes some of the leechy middlemen out of the equation.
author | aussieninja |
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permlink | re-taskmaster4450-real-estate-take-over-by-blockchain-20180310t185736407z |
category | realestate |
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Thatβs cool to see. They are proving the concept. I believe that real estate prices will boom when normal transactions are completed using blockchain. This will turn an illiquid market into a ver liquid one. Property values will soar. Looking forward to more development in the real estate arena. Thanks for the post! Resteem
author | brettcalloway |
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permlink | re-taskmaster4450-real-estate-take-over-by-blockchain-20180310t153200592z |
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I'm glad you highlighted the point about virtual reality. There is already advancements in the way of House tours that can cut out a part of the process. Although human interaction, in the way of maintaining a client base, will be sorely needed, there is a lot that can be gained from the technology side. With a mixture of VR, smart contracts and other decentralised counterparts, the business can be cut down to a much smaller scale in the way of *work* and human contact. The travel sector is very much the same. I've started to experiment with VR myself after a previous comment from yourself. TripAdvisor could be innovated on with the use of VR. On my account @cybertrippy I've started to explore different cities to show off their sights and experiences. I've already began to tweak and improve the way I am creating the VR videos for a better viewer experience. There is **a lot** of opportunities on the horizon.
author | calumam |
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permlink | re-taskmaster4450-real-estate-take-over-by-blockchain-20180310t173609097z |
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**Coins mentioned in post:** Coin | | Price (USD) | π 24h | π 7d - | - | - | - | - **BTS** | BitShares | 0.176$ | _8.08%_ | _-20.98%_ **EOS** | EOS | 6.285$ | _8.04%_ | _-22.38%_ **ETH** | Ethereum | 740.366$ | _5.73%_ | _-14.2%_ **PRO** | Propy | 1.048$ | _12.0%_ | _-17.95%_ **STEEM** | Steem | 2.589$ | _5.39%_ | _-26.16%_
author | coin.info |
---|---|
permlink | re-taskmaster4450-real-estate-take-over-by-blockchain-20180310t152058444z |
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I've bought many houses and I can tell you the process is complicated and full of unnecessary intermediaries. Every single time I was not sure until the very end if I wasn't surrounded by a bunch of scam artists that were stealing the down-payment money so I was scared as shit, signed a bunch of papers that make no sense... if only the owner had a private key to the deed hehe. This is an industry that's ripe for disruption
author | cryptoeagle |
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permlink | re-taskmaster4450-real-estate-take-over-by-blockchain-20180310t171323119z |
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And when you sell, you get to fork over 6% commission... The construction industry bears watching too...it is going to have to get updated....they still primarily do things like they did 40 years ago.
author | taskmaster4450 |
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permlink | re-cryptoeagle-re-taskmaster4450-real-estate-take-over-by-blockchain-20180310t201002048z |
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Yes, we are just at the beginnings of this and the best things to happen thanks to blockchain technology haven't even been conceived of yet.
author | eftnow |
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permlink | re-taskmaster4450-real-estate-take-over-by-blockchain-20180310t153049379z |
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Interestingly, one of my fellow DTube Daily members was speaking with a real estate agent recently about how blockchain would revolutionise their business - including the potential that they could earn more for the advertising of their business (done in a funny or inspiring way) than the actual sale itself.
author | eftnow |
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Companies themselves are excited at the prospects of cost-savings by using private blockchains to circumvent the need for paper-pushers, but the paper-pushers should be scared that their careers are imperiled. I think it's a net loss for society if such companies become even more efficient and feel they can let go of thousands of employees before UBI and other social safety nets are implemented.
author | charitybot |
---|---|
permlink | re-eftnow-re-eftnow-re-taskmaster4450-real-estate-take-over-by-blockchain-20180310t155248693z |
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Something to consider: Imagine selling your real estate in 100 pieces of 1% to a hunderd different buyers. Blockchain gives the option to fractionalize real estate. Selling fractions of property as investment opportunities will drive up the price immensely of real estate.
author | fitzgibbon |
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evian | 0 | 117,506,713,506 | 100% |
That is out there. I read there are roughly $250T worth of assets that can be tokenized and turned liquid. What you describe applies to to works of art also.
author | taskmaster4450 |
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Excellent article. In the early 90s, most people had no earthly idea how disruptive the internet was going to be to the economy and how it would prove to be an incredibly deflationary tool as it dramatically lowered costs. It's funny to look back at major mainstream media publications that believed the internet was a fad that would go away. I think the blockchain will be at least as disruptive as the internet over the long term. Your article provides a concrete example of why that will be.
author | gtrplayer |
---|---|
permlink | re-taskmaster4450-real-estate-take-over-by-blockchain-20180310t160219242z |
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I agree @grtplayer. Many seem to think that inflation is the problem...down the road we are going to see many technologies that cause deflationary pressures. People do not realize how quickly the price of stuff drops once it is under the law of IT (i.e. digitized). We saw it with information, communication, music, and video. Look at the encyclopedia industry...it is basically cooked.... One difference between now and the early 90s is things move a lot quicker. That means we are going to see the time until it is embraced be a lot quicker than the decade for the internet to penetrate.
author | taskmaster4450 |
---|---|
permlink | re-gtrplayer-re-taskmaster4450-real-estate-take-over-by-blockchain-20180310t170655928z |
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blockchain will bring revolution in coming time
author | iamimran |
---|---|
permlink | re-taskmaster4450-real-estate-take-over-by-blockchain-20180310t152247099z |
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I have done a couple of transactions solely on crypto. They were amazing and seamless. I expect that to only grow exponentially in the years ahead. Real estate is a big opportunity of course. ___ By the way,I love your infectious optimism about crypto. You are certainly one the those I look forward to reading daily.
author | idowu-kunlere |
---|---|
permlink | re-taskmaster4450-real-estate-take-over-by-blockchain-20180310t184714751z |
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Maybe this blockchain will be the main reason for the next revolution.
author | jaber-hossain |
---|---|
permlink | re-taskmaster4450-real-estate-take-over-by-blockchain-20180310t154205463z |
category | realestate |
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This would be massive for the technology. What crypto really needs is big wins from the technological aspect. We need working products that serve a major purpose, and slowly we are getting them
author | jakeybrown |
---|---|
permlink | re-taskmaster4450-real-estate-take-over-by-blockchain-20180311t082308669z |
category | realestate |
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so Epic,sir @taskmaster4450..... you are right.. all used Bitcoin for different purposes.. I assume that real estate prices will decrease when normal transactions are completed using blockchain. This Blocktree provides so much profit,, few years ago, Real state agency got a good profit and they kept a good effort too..but now a days,many of these agency cheats people and also losses their own fame... Blockchain must go away up than realstate...  thank you sir for a good topic,, you are a good writer.. Effectual writer.. @upvoted @resteem
author | lafzaia |
---|---|
permlink | re-taskmaster4450-real-estate-take-over-by-blockchain-20180310t172104207z |
category | realestate |
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thanks for sharing the post
author | mahanjonk |
---|---|
permlink | re-taskmaster4450-real-estate-take-over-by-blockchain-20180310t151906462z |
category | realestate |
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Real estate is considered the best way for investment. Earn and save your finances. Exchange Equitybase, created on the basis of blockchain technologies and smart-contracts Ethereum has developed a platform for investment in real estate.
author | mashwanii |
---|---|
permlink | re-taskmaster4450-real-estate-take-over-by-blockchain-20180310t155124492z |
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Indeed! We are watching perhaps the greatest shift in human consciousness and human transformation ever. However, like all human activity, most of humanity will not be creators of this new reality or even be aware how it happened. There will be some few, many of whom are here in Steemit, who will expand their own minds to encompass a new reality. At first we may use our imaginations, and day-time dreaming to get a glimmer of what is in store, but this will morph into Vision and from vision comes creation. What, indeed, is the potential of blockchain technology? What galaxies of community shall we create? When one contemplates the possibilities it is truly astonishing. Fantasy becomes reality. Will the entrenched elite nobility resist this surging tide of creativity and ... destiny? Yes, no doubt they will, but alas like all the elite of fallen Empires they bask in their own superiority and self importance, and by so doing create a wall of ignorance that blinds them to change. Perhaps they will dismiss or ignore Blockchain just as they have cryptocurrencies and find themselves tumbling into the abyss of extinction. Let us hope so. There are those few who see the potential, and sense the magnitude of, the new Galaxy of Blockchain and are attending small isolated conferences around the world. They are building their new sailing ships that will transport them across uncharted oceans to a New World. As for me, I'll just be an enthusiastic passenger here on Steemit, typing away, creating my own small claim on the future. Once again, appreciate your nimble mind that has risen to Vision.
author | mistermercury |
---|---|
permlink | re-taskmaster4450-real-estate-take-over-by-blockchain-20180310t172916612z |
category | realestate |
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taskmaster4450 | 0 | 28,019,350,283 | 5% | ||
nudimar | 0 | 530,636,459 | 100% |
History is repeating itself, where there will be high level of transparency of material possession. I told a friend recently that acceptance of blockchain as means of payment will not take long from now. the Evolution has started already and am happy I am part of this new evolution. thank you@taskmaster4450 for this informative piece.
author | mosesogenyi |
---|---|
permlink | re-taskmaster4450-real-estate-take-over-by-blockchain-20180311t010917402z |
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Definitely another great example of how the technology benefits the industry from both a trust and transactional perspective. This makes homeownership easier without having to depend on public funding. It also helps become more efficient for the economy to move more transactions quicker. This digitalization or tokenization of assets will be the wave of the future, bringing non participants closer to the digital economy.
author | newageinv |
---|---|
permlink | re-taskmaster4450-real-estate-take-over-by-blockchain-20180310t160439130z |
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Real Estate, to me, seems like an unlikely place for something like blockchain to help out, but after reading this it makes sense. The usefulness of Etherium with this transaction is probably for the better at this point in time since Etherium is more well known than other cryptos.
author | pacific-yt |
---|---|
permlink | re-taskmaster4450-real-estate-take-over-by-blockchain-20180311t020350929z |
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>Startups that gain traction using the public networks will set the agenda. And the current big players will be slow to act. Much like supertankers, they will be slow at making course corrections. A smart real estate agent could start making plans to issue SMTβs. Pay people to view properties for sale.
author | preparedwombat |
---|---|
permlink | re-taskmaster4450-real-estate-take-over-by-blockchain-20180310t163825334z |
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Excellent point...perhaps there is a real estate broker who is on STEEM who will read this and embrace the idea. I think you should get 10% for the idea.
author | taskmaster4450 |
---|---|
permlink | re-preparedwombat-re-taskmaster4450-real-estate-take-over-by-blockchain-20180310t170806303z |
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Add AI into the mix with smart contracts...equals no more real estate agents, bankers of lawyers. Viva La Liberation!
author | sequentialvibe |
---|---|
permlink | re-taskmaster4450-real-estate-take-over-by-blockchain-20180310t164326373z |
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I agree with you on that end. I am in the camp of embracing the idea that many professions are going to be destroyed much quicker than they did in the past. I read an article that mentioned JPM developed an algorithm that saved them $70M in legal fees for research in mergers. That is a lot of money out of the pockets of attorneys.
author | taskmaster4450 |
---|---|
permlink | re-sequentialvibe-re-taskmaster4450-real-estate-take-over-by-blockchain-20180310t170958643z |
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i keep on wondering ... but this fukn brain doesnt give answers >This is exactly why Governments including their three letter agencies as well as banks have been attacking blockchain especially Bitcoin. They cannot allow us to cut the cord and be independent of their control. Another thing is blockchain could be used to secure elections preventing fraud by max. So if the government was honest, you would think they would love and embrace it. No way will we see the US government ever want to allow blockchain backed elections.
author | shahaan |
---|---|
permlink | re-taskmaster4450-real-estate-take-over-by-blockchain-20180311t183132505z |
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Creativity!
author | sizuka |
---|---|
permlink | re-taskmaster4450-real-estate-take-over-by-blockchain-20180310t152048863z |
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There will be a lot of business that begins to get moved over to the blockchain as time progresses. It's much faster, simpler, and easier to keep track of. The main downside right now is that people still don't understand the technology and are resistant to change. That, and managing passwords and accounts can be tough, but that will improve. Eventually though, I think they'll pair biometrics with the blockchain and you'll unlock your profile or wallet using your retina scan or something.
author | themanwithnoname |
---|---|
permlink | re-taskmaster4450-real-estate-take-over-by-blockchain-20180310t180640946z |
category | realestate |
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To listen to the audio version of this article click on the play image. [](http://ec2-52-72-169-104.compute-1.amazonaws.com/taskmaster4450__real-estate-take-over-by-blockchain.mp3) Brought to you by [@tts](https://steemit.com/tts/@tts/introduction). If you find it useful please consider upvote this reply.
author | tts |
---|---|
permlink | re-real-estate-take-over-by-blockchain-20180310t154118 |
category | realestate |
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created | 2018-03-10 15:41:30 |
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Maybe soon we can buy cars with crypto. Unless I missed it and it already happened. Of course MSM wouldn't report it. Too busy talking about the Russians. Sweet. π
author | wonderwop |
---|---|
permlink | re-taskmaster4450-real-estate-take-over-by-blockchain-20180311t032440515z |
category | realestate |
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