In recent years there have been important technological changes and an important adoption in the real estate sector. While most of the same has been built with buyers in mind, Blockchain in Real Estate could have a significant impact by offering real-time data to ensure secure financial transactions. Taking into account the monetary value per ticket in Real Estate, transparency and prevention of fraud are the main concerns and demands of a home buyer, especially in developing markets such as Africa and Blockchain has the potential to positively affect millions and millions of such buyers.
Some ways in which the current real estate ecosystem could improve…
Increase transparency
A typical property sale involves multiple interested parties: a buyer and a seller, their respective lawyers and real estate agents. Currently, agents play an important role in this transaction by ensuring that a smooth process occurs between the various stakeholders and that the transaction goes through the different stages. However, this need is due in large part to the fact that there is bureaucracy in the system and there is no clear visibility of the existing documentation for the process to advance.
HouseAfrica on blockchain allows all transactions to occur without intermediaries and with all the recorded information in a completely transparent way
Execution speed
If all documents are transparently available, the need to search will disappear and verification of the authenticity of the documents and the transaction will not be necessary, which will increase the speed of execution.
Save on costs
With all the data available to the buyer and the seller at ease, the function of using lawyers and intermediaries will restrict the savings in costs involved
Data security
Blockchain allows the secure storage of online data that could be used in the future to store all property records, including deeds, plats, surveys, chain of titles, etc.
Different property models
Blockchain could open new property models, such as shared ownership, helping first-time buyers buy only part of the property and proportionately obtain rental income in it. An online ledger driven by blockchain could overcome the hassles of multiple owners by safely and reliably tracking the size and value of individual property holdings in the same way that company shares are recorded in exchanges.
HouseAfrica is a trusted decentralized real estate and rental ecosystem that provides international and local investors access to the African property market.
HouseAfrica leverages blockchain technology to make buying, selling and rental process of properties less costly and more convenient and secure to investors.
The transparent ecosystem with verified information on sellers, buyers, renters and landlords fosters trust between the parties.
Learn more about HouseAfrica project visit the we site: https://houseafrica.io | Telegram — https://t.me/HouseAfrica