Real estate project in Dubai to be the 'first major development where you can purchase in bitcoin'

Real estate project in Dubai to be the 'first major development where you can purchase in bitcoin'

British entrepreneurs Michelle Mone and Doug Barrowman have launched a bitcoin-priced real estate development in Dubai. The project spans more than 2.4 million square feet. An initial tranche of 150 apartments will be sold in bitcoin in a world-first. Studio apartments will be sold initially at a starting price of 30 BTC — worth $133,918.

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London developer to allow rental tenants to pay deposits in bitcoin

London developer to allow rental tenants to pay deposits in bitcoin

Co-living pioneer The Collective has announced that prospective tenants can pay deposits from Monday in bitcoin. By the end of this year it will also accept rent payments in the cryptocurrency. This is the first time in the UK a major property developer has enabled bitcoin payments. The Collective said it was in response to demand predominantly from international customers.

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Will blockchain and smart contracts revolutionise the real estate industry?

Will blockchain and smart contracts revolutionise the real estate industry?

But the situation may be about to change as a new wave of fintech start-ups around the world begin disrupting the sector with blockchain (or distributed ledger) technology.

It has the potential to bring together the vast amount of property information currently stored in many private and government databases, including all legal and transaction history, via a single digital address stored on an immutable, public distributed ledger.

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Chicago’s Cook County to Test Bitcoin Blockchain-Based Property Title Transfer With velox.RE

Chicago’s Cook County to Test Bitcoin Blockchain-Based Property Title Transfer With velox.RE

Through an exclusive partnership with real estate tech startup Velox.re, Chicago’s Cook County will test the use of the Bitcoin blockchain for transferring and tracking property titles and other public records. The Cook County Recorder’s Office is the second largest such office in the United States, and it it will be the first in the country to experiment with blockchain technology.

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Could Blockchain Change The Face Of Property Transactions? Page 28 - RICS Journal

Could Blockchain Change The Face Of Property Transactions? Page 28 - RICS Journal


The internet made it possible to transfer information, quickly, cheaply and paperlessly without intermediaries. Similarly, blockchain technology offers the same advantages for transferring value. You use the internet to transfer words and pictures; you use blockchain platforms to transfer money and assets. Starts on page 28.
 

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IBREA Founder: Sleepy Real Estate Industry Wakes Up To Blockchain

IBREA Founder: Sleepy Real Estate Industry Wakes Up To Blockchain

2016 is the year real estate wakes up to blockchain as industry professionals are looking to harness the technology to reduce costs, stamp out fraud and speed up transactions.

One particular metric that is proof of the nascent eagerness of the industry for blockchain technology is growth of the International Blockchain Real Estate Association (IBREA).

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Trade Group Promotes Using Blockchain for Real Estate

Trade Group Promotes Using Blockchain for Real Estate

The biggest obstacle hindering the development of blockchain for real estate is an industry that is afraid of change. “The response I’ve gotten many times is, Who else is using this? The real estate industry has too many people who want to not make a mistake rather than innovate. It’s why our industry is years behind Wall Street in terms of technology adoption.”

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Will Blockchain Smart Contracts Revolutionize Real Estate Transactions?

Will Blockchain Smart Contracts Revolutionize Real Estate Transactions?

Similar to Bitcoin and other virtual currencies powered by blockchain technology, “smart contracts” have the potential to eliminate the need for trusted third parties to facilitate transactions. In the case of real estate agreements, contracts could be verified and enforced automatically without the need for human interaction, reducing the need for agents, lenders, inspectors and title insurance providers.

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