At the International conference of the Association of blockchain real estate, recently held in Newport beach, California, co-founder of Bloq Jeff garzik's told about the basic properties of the blockchain, which can be used in the real estate market.
"I feel that the blockchain and the estate have a mutually reinforcing relationship. I believe that in this area the coming dawn of a new era", said garzik's.
As an example of the use of the blockchain Jeff garzik's led Honduras where people interested in this technology as storage of data on rights to property. The reason for this was the corrupt policies, the ability for a bribe to change the records in the database. It is the ability of the blockchain to fight corruption brought bitcoin developer with experience on the idea of using this technology in other areas.
In particular, Jeff garzik's believes that a particular potential use of the blockchain have the regions affected by the wars and "failed States".
"They can break with the past and to be sure that all segments of the population, including the poor, will have access to the same information as everyone else," he says.
Thus, the use of technology distributed registry will leave the bureaucrats less able to deceive people. Another advantage of the use of the blockchain in real estate is the ability to eliminate third party in the transaction.
Blockchain and bitcoin can boost their business processes, because they eliminate the need for the presence of a third party certifying the transfer of rights between two people, and therefore, the transaction value will decrease," says Jeff.
Now, however, there are problems in the implementation of these ideas. So, nobody can exclude the possibility of loss of private keys or transfer to the wrong address. But if these flaws are removed, it for management and real estate will open a new world.
Note that the Chairman of the Association of Lifthrasir Ragnar with his team since the beginning of 2015 working on a blockchain application that significantly simplifies the entire process of transferring rights to the property.