BlockChain

Real Estate takes the Tech Revolution on the Road

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Real estate industry has seen notable changes over the past few years. The industry is fragmented and in numerous ways, and technology has still managed to revolutionize that way many real estate operations are conducted. Technology solutions are plenty and the desire to migrate from traditional means of working has dramatically increased recently.

Real Estate takes the Tech Revolution on the Road

Recently, the tech trends have completely swept the real estate industry

Virtual reality

VR or Virtual Reality is becoming more popular among consumers in the real estate industry. Realtors, who wish to provide their customers with great experiences while browsing properties for either purchase or rent, are taking advantage of Virtual Reality tools and 360-degree videos. These technologies offer 3D virtual tours for the properties right from their devices. These technology products incorporate videos, photos and the VR facilities allow users to navigate floor plans digitally. 3D home tours are becoming a convenient means for decision making for real estate consumers.

Cloud

Cloud is another platform with a wide-ranging impact on the real estate sales process. Anyone who has ever purchased real estate, truly understands how lengthy and frustrating the process is. Thanks to the cloud and data management applications that operate on the cloud, the entire process – including the electronic signatures, the entire process can now be completed within minutes.

Blockchain

Blockchain gets a lot of attention and there is definitely a place for cryptocurrencies in real estate transactions. Blockchain technology’s security, transparency, and efficiency really matter when it comes to real estate buyers, sellers, and renters. These benefits will allow the industry to standardize and scale online transactions. Real estate transactions from a buyers or renters perspective are pretty mysterious. Once the offer is made, the process is not transparent to the buyer. Consumers are also not transparently track the offer too. Many times the agents are looked upon suspiciously because they cannot share any more details until the deal is final.

Technology will definitely aid the real estate industry because it helps reduce administrative costs, introduces transparency, auditability, data security, and overall efficiency.

BlockChain

The future of blockchain

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Today, society and the global economy are largely dependent on the trust of powerful intermediaries such as banks, government, and large internet companies. Well, in the business world too, some of the largest companies and fortunes are made by businesses that insert themselves in the middle of transactions as trusted intermediaries and as a result extract value from the transactions. They cost a lot and they slow things down – they are too centralized.

Blockchain has a different kind of trust. It is decentralized and managed by the public so there is no one entity that can manipulate or control it. That’s what makes it more trustworthy. It is foreseen as the technology to look out for in the future.

Although until today it has been widely used in the field of finance, there are a number of industries that can make use of this technology.

Banks

As mentioned earlier, the blockchain technology in the future will be widely adopted by banks. Cryptographically secured currencies will be widely used. It could be used to bypass today’s centralized financial infrastructure entirely.

Industries

Industries are also realizing that one of the core innovations of blockchain is its ability to reduce or eliminate trusted counterparts in the transaction processes. Blockchain could have the potential to create new opportunities to disrupt existing technologies and create new opportunities and processes.

Government

Blockchain could also be used to distribute social welfare in developing nations. Well, elections are currently an expensive and arduous affair. This technology could transform the way this process works too.

The blockchain revolution completely resets the equation of power, technology, and businesses. It provides a lot more value and re-engineers the way of conducting business. Although it is not seen as a replacement for any particular technology, in the near future, it will definitely be seen as a promising value addition to the entire mix of things!

BlockChain

Blockchain: Safe, Secure and Speedy

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The beauty of blockchain technology lies in the fact that it allows you to see a verified, accurate and un-tampered with an account of transactions. These transactions could be payments, but not necessarily. They could be simpler exchanges of information too.

This technology has been around for a couple of years and basically shares a record of transactions that are maintained on a network of computers on the internet – rather than a centralized authority. When this technology is used on a large scale, however, especially in corporate, it raises question marks over whether it can cope with the increased volumes on a daily or even hourly basis with the same veracity. The blockchain technology is only as valuable as it is secure.

The two main concerns of this technology are scalability and security:

  • Security is a concern mainly because blockchain implementations such as the financial services require a digital wallet. This dependency is a potential risk.
  • The decentralization of control and relative freedom of access and has ultimately fueled black market trading.
  • The setting up of private blockchains places great responsibility for securing access to the nodes. It’s important to determine the trusted parties and the blockchain system administrator needs to make the security decision.
  • While the risks of building a financial market or other infrastructure on a public blockchain may give a new entrant pause, private blockchains offer a degree of control over both participant behavior and the transaction verification process.

Blockchain systems provide transparency and usability but at the same time required enough security considerations. Just as businesses decide which systems are better hosted over the internet or intranet, they will have to take a call regarding the use of blockchain technology as well. In general, systems that require fast transactions, the possibility of transaction reversal, and central control over transaction verification will be better suited for private blockchains, and others that benefit from widespread participation, transparency, and third-party verification will flourish on a public blockchain.

BlockChain

Bitcoin and the changing face of World Economy

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Digital money such as Bitcoin has the potential to expand the world of international commerce, support finances and completely transform how we shop, save and conduct business. From programmable money to many new forms of e-commerce, here are a few ways in which this new technology will change the economic landscape.

Bank transfers will be faster and cheaper

The way banks work and the way money is moved today will change dramatically with the introduction of bitcoin technology. Using digital currency, bank transfers could be made instantly and without too much cost. These kinds of transfers are a lot safer too. Protocols that support the transfer of funds from one currency to another using a secure digital ledger are also a new way of handling transfers in a more secure way.

Global remittances

Migrants that send home remittances, every year send more than $500 – which exceeds the foreign direct investment too. Technology has the potential to help these transfers become faster and cheaper. Users could send money directly via phones.

Safe money

Digital currencies could become another convenient and safe form of payment in countries where most citizens don’t have bank accounts. While using bitcoin as a second currency in a country would expose citizens there to a certain amount of currency risk, it might be better than the existing options, particularly in high-inflation countries. For example, it would be physically safer than storing cash at home or buying gold jewelry. In this way, it could expand access to international financial markets, allowing even the unbanked a way to save and protect against inflation. One implication may be that capital controls become harder to enforce.

The potential of e-commerce

Credit cards are prone to frauds and many online merchants turn away good business due to this. Fraud is more common in international transactions and hence many firms do not accept international payments. With digital currency catching on, these firms can eliminate the risk of fraud and sell their products worldwide. The transfers cannot be undone once they have been made. Digital currency allows small businesses to engage in global e-commerce.

The all-new programmable money and smart contracts

Bitcoin is a purely digital asset. It can be moved in automated ways. This introduces a whole new world of programmable money and smart contracts. This could reduce the digital thefts of funds and as in some cases, cryptocurrency has multiple individuals to authenticate. Firms can also ensure that the money is not lost or stolen when it moves across borders.

Programmable money has a lot of scope for implementation in complex contracts such as financial contracts involving multiple parties and complex derivatives.

Bitcoin is definitely poised to change the face of the world economy!