A Blockchain Usecase: How IAToken can disrupt the Real Estate industry in the Philippines
The real estate industry is witnessing a digital transformation.
Through history, a “pen and pencil” business model have always relied on inefficient and old methods for doing business and keeping records — modern technology has begun to help reshape the expanding global market.
Blockchain is particularly feeding into this transformation similar to the ways that other emerging technologies are disrupting other long-established and traditional industries like banking and insurance
The decentralized digital ledger technology, which is designed to instill trust in the authenticity of digital transactions, could be utilised to create efficient solutions for both commercial and residential real estate — from purchasing properties to conducting due diligence to enabling crowd-sourced investments, and a lot more.
Some established incumbents are already embracing the technology: Real estate giant RE/MAX has signed several partnerships to explore different blockchain use cases, while Hilton Worldwide has started using a blockchain-based property management system.
The analysis in this article explains how blockchain technology could be used to transform the real estate industry, and the areas where we’re already seeing its impact
Why blockchain technology could benefit the real estate industry?
Blockchain offers a decentralised record-keeping which is designed to be difficult to manipulate. Blockchain technology operates through digitised, shared peer-to-peer networks, creating resilience against the spread of corrupted information and boosting resistance to fraud.
Blockchain technology has the potential to address many challenges within the real estate industry, including:
Improving trust and transparency
Blockchain technology provIdes a censorship-resistant and variable option for transmitting information such as valuation details
Reducing siloed databases
The processes of real estate would benefit from secure and tamper-resistant shared databases that compile information and documents from various different stakeholders in one place.
Making real estate transaction processes more efficient
A lot of real estate transactions are still conducted through traditional wire transfers and require costly verification processes from financial institutions that can take days to complete. Blockchain-based transactions could enable a streamlined process which delivers quickly and reduces costs.
Limiting the use of intermediaries
Real estate has one of the longest process chains, from escrow companies to brokers. Many of these intermediaries could easily be eliminated by blockchain, as records could be verified, stored and transferred using blockchain technology. Removing the need for middle men would dramatically reduce costs and save time.
A blockchain usecase: How Instant Asset Token will utilise blockchain to transform real estate market.
Instant Asset Token is a new real estate platform built with blockchain technology that aims to democratize access to landed assets that are currently cost prohibitive or closed to anyone outside of qualified investors. By creating a peer-to-peer network on the blockchain, IAToken hopes to make a more egalitarian real estate investment market.
IAToken is providing a global real estate investment platform through tokenization of assets and opening them up to fractional investment from investors around the world. Powered by companies such as Realty Beacon Philippines Inc and DigiAssets Pte Ltd, IAToken will help users digitize real estate on the blockchain. IAToken users have easy access to properties that would otherwise be difficult to find or prohibitively expensive. With the core benefits of a transparency offered by blockchain infrastructure, users can trust the validity of their investments with instant Asset Token
What are the benefits that Instant Asset Token Offers to the masses?
The value offerings of IAToken would be of particular interest to cryptocurrency investors who want to improve their earnings by rooting back to real world income producing assets, without leaving the cryptocurrency space.
Liquidity of investment
The customer segment will also enjoy stable dividends only by purchasing the IAT tokens with BTC, USDT, ETH or PROB which can help offset the general volatility that can be seen in the most of crypto assets.
Gateway to real estate investment
Instant Asset Token is also offering an easy way for traditional investors to enter the cryptocurrency asset sector, with a minimal risk and technological know how, while remaining rooted to the traditional real world business model of a Real Estate Investment Trust.
Payment services and commissions
Payment for tax advisory and services can be done using NIAT (a native IAT token pegged at the price of the native currency of a country) to make payment for engaging the services of tax advisors. The IAT ecosystem also support the payment of other services such as legal services and agent/brokers commissions through the NIAT token.
Wrap Up
IAToken is taking a different approach to traditional real estate with its blockchain-based tokenised asset investment platform. In a way similar to Airbnb but with a big blockchain twist, the iatoken enables investors to acquire properties and obtain fractional ownership of assets through its platform.
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interested...
Kindly participate in the IEO on Probit
I think real estate is well suited for crypto and blockchain. Using crypto as a payment solution for RE is adding a great valute in my opinion. But those project like IAToken would need to cooperate with some or another oracle project like for example Chainlink if I understand this perfectly. But in the next decade, it can be a great business.
@ritxi, you made a good point. Real estate is truly seeing a disruption through the adoption of blockchain technology. IAToken has made good partnerships both locally in the Philippines where the company is founded and also across Asia. The team has a very good sustainability plan.
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Wow! thanks for shearing this very important post. it is not only educating but also profiting. Because it has the power to increase your steem power.
@gwodo7, thank you. Beyond the STEEM you will earn on my post, you can participate in the IEO of IAToken on probit and earn bonus of up to 40% if you purchase tokens w/ PROB tokens.
@kryptarion, Yes, Blockchain Technology is bringing Transparency. Let's hope that Blockchain Technology will be welcomed in every field and inturn we will going to see more empowering initiatives because of this space.
Have a great time ahead and stay blessed.
This is absolutely correct, blockchain technology is witnessing adoption in all field and industry.... Adoption into real estate will open up massive investment for every1
When it comes to Huge Investments this space can play massive role. Have a great time ahead.
Interested. Blockchain is in its infancy. I'm in my early 50's so by the time I hit 70 all of us that are early adopters should profit handsomely if you don't screw up somewhere along the way. 😊
U are correct. Blockchain is actually packed w/ many benefits, various applications into usecases. More rewards as the technology grows further.
Have nothing on probit for the IEO
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The IEO is in rounds, the first round sold so quickly. Second round will commence very soon.
Ok