Real Estate and Blockchain

Compumatrix has opened many doors for me throughout the years. As a real estate professional, It inspired me to learn more about real estate and Blockchain technology.

I started my real estate career in 1998 during the dot com boom in San Francisco. At that time. I had access to weekly listings in an office binder and Thomas Guide map in my car.  No computers for listings or cell phones. My career excelled with the following real estate continuing education designations: Certified Residential Specialist (CRS), Accredited Buyers Representative (ABR), Graduate of the REALTOR Institute (GRI), and Certified Distressed Properties Expert (CDPE). A few years ago, I attended a Blockchain event in Las Vegas for real estate blockchain platforms. I was blown away by the advancements in Blockchain technology that disrupted the real estate industry. It inspired me to take another designation course as a Certified Crypto Agent.

I joined a virtual real estate office, where I had to choose my avatar, and the company interaction was in an animated cloud office on a cartoon campus. I was a cartoon taking real estate seminars and discussing transactions with live managing cartoon avatar brokers. The days of dressing professionally, driving and hours of office meetings with bagels and coffee are gone. It is all online and now the ultimate solution for COVID. No more open houses. It is virtual showings.

I researched and met the CEO of a real estate transaction coordinator blockchain Ethereum based platform, where all transactions are time-stamped and immutable and secure. Buyers, sellers, and brokers sign the paperwork online with a private key. All parties have access to files immediately, and they can see the time-stamped blockchain transactions. It has saved time with all paperwork from agents, brokers, escrow, title, inspections buyers, and sellers because there is less time involved with the escrow and paperwork, which allows more time for sales.

The most advantageous feature is financial security.  California has a mandatory disclosure for wire fraud, which has been a problem with escrow emailing wire instructions to buyers. Buyers started receiving fraudulent wire instructions to hackers. This platform solves the problem with the Blockchain, as it directly into the system with private keys. It allows for purchasing with cryptocurrencies or fiat. The platform is secure with wire transfers and BTC transactions.

More options with Cryptocurrency Lending for real estate is another advantage for Blockchain with smart contracts and peer to peer lending, which is transparent and trackable.

At a Title company presentation, I learned they are putting all deeds on the Blockchain for security. It has been an endeavor. However, it is a solution that will save time with real estate transactions.

The platforms use the technology to list properties and transactions, but another advantage is property management and rentals. They are platforms to pay rent and rentals agreements on smart contracts.

Real estate investing platforms use tokens to purchase fractals of real estate investments. I attended a meetup where I learned that real estate investing was being tokenized, advantageous to international investors, especially for commercial real estate investing.

My excitement for the blockchain technology in real estate has inspired my own goals with real estate purchases and investments. I am grateful to  Compumatrix for the possibility of acquiring real estate with Blockchain technology.

About the author

Kristin found her passion in the Blockchain space and earned her Propy Crypto Certified Agent, Certified Blockchain Expert -V2 from the Blockchain Council, Intro to Cryptocurrency Trainer from Crypto Training Center and is a disruptive technology Infiom Advisor. She is committed to serving clients with access to resources and capital through blockchain, disruptive technology adoption, and sustainability. She has been a grateful and loyal member of Compumatrix since 2015.

Comments

  1. Your explanation of how Blockchain is creating a secure environment for real estate is reassuring. I often hear advertisement for title lock insurance beings there seems to be theft of people’s properties and homes completely unawares. To be honest, I miss the “all you need is a handshake” days. The physical touch of a handshake and maybe making a new friend is worth the trouble. In reality though, it is still possible to make those new connection with people. Perhaps the best of both worlds. The old and new complementing each other.

  2. How fascinating Kristin. I am sure that many of us would like to just pick your brain and know more about the ins and outs of real estate and blockchain payments. You are in the right place at the right time. I have heard that this is such an amazing time to buy real estate, and you probably now have the best of both worlds at your fingertips. Fiat and Crypto. How great.

  3. How amazing, I didn’t realize real estate was transitioning and using blockchain Technology. You are in the right place at the right time Kristin, learning the new processes in real estate and then being involved with Compumatrix to further your understanding of the crypto world!

  4. Great article! We are looking to purchase a farm over in Nevada…and we currently live in CA. I would LOVE to figure out how to purchase my Nevada property using Bitcoin!
    I asked my realtor about it and she said no one there would take it. So it must be a CA thing….You are right about it being so much safer!

  5. It’s amazing to see how blockchain has been implemented in different industries! We’ve been hearing for years how it’s been adopted as the secure solution for business models all across the board. Now you are giving us an insight into how it has disrupted, and been worked into the real estate market – excellent! And with the most recent “disruptor”, the covid crisis, what a different world we are living in today, than even one year ago!

  6. very fascinating blog posting and as time plays out — more answers to these questions will materialize — however i am quite certain that the Crypto world is becoming so much more involved in the everyday world of investing and real estate and with this china virus being exposed globally it has made the cyber world so much more involved also — the days of old peep to peep business is becoming just that a thing of the past — imho very sad —

  7. Yes, times sure have changed. From the day of the Motorola “Phone Booth” to now having an almost wafer thing piece of equipment in our pockets to handle all the transactions you speak of. Working with the Block Chain can settle all kinds of things. Real Estate being a fantastic test market for it. I hope to see it in all aspects of our lives for important transactions. Vehicles, Houses (already there), financial planning and insurance.. Imagine a municipality that collected road taxes through gasoline sales and those specific funds could ONLY be spent on road works – all controlled by block chain. Never mind one of the most important responsibilities we all have – Voting. Using the block chain for this purpose would eliminate any possible fraud there could be.

  8. Very interesting blog Kristin,Blockchain technology has become associated with real estate in many ways, making it much easier and more secure for transactions, The world is rapidly advancing in blockchain technology. We can secure our income by doing good deeds. compumatrix is an advanced blockchain technology company.  

  9. For a couple of years I’ve been trying to convince a Real Estate friend of mine to start educating himself on Blockchain/BTC. Now I can send him your blog post. Thank you for spelling out the changes that have occurred in the industry…so far! I, too, will do some investing in land, etc. as things progress in this direction. What a thrilling time to be alive!

  10. This was an eye opener for me, Kristen. Thanks to your post, I now realize there are many advantages to using the blockchain for real estate purchases, rentals, and other things. Safety appears to be one of them. I am sure this will become more widespread and more available in many places. Though, I too would miss the personal touch of a face to face conversation and the interaction with a live person, meaning not virtual.

  11. My real estate business is transacting REO (bank owned property) for over 30yrs. When a bank or mortgage company forecloses; the bank has to put the property on sale. The property is either wholesaled, auctioned, or list it with a real estate brokerage. The property in most cases is not ready to sell (as is). I have crew of plumbers, electricians, trash out and cleaning, painting, flooring vendors, etc. The bank pays the vendor (upon completion of services directly. After the the property is marketable. I list this property at the price agreed upon with the bank. My average sale (after listing) is approximately 20 days. Since the Nevada is not allowing open house, face to face customer interviews, evictions. The REO business is at a standstill. Blockchain technology may be very useful once all the restrictions are lifted.

  12. What an eye-opening blog! I had no clue that the real estate industry had advanced so much! Just a short time ago, the idea of actually buying property, be it a house or land, using cryptocurrency was mind-blowing. Blockchain has taken the industry to a level beyond comprehension in a concise time. Satoshi Nakamoto introduced Bitcoin in 2009. In only eleven years, the way we buy and sell has changed tremendously because of that introduction.

    Watch out here comes Compumatrix, who will take this same world the rest of the way!

  13. I think eventually the real estate industry will embrace cryptocurrency all around the world. It has started in a few countries and I can’t wait for the time when this becomes widespread and becomes commonplace. And by then we will have Compumatrix open and we can use what we have earned to purchase real estate and many more things that we desire.

  14. Thank you for your interesting blog, Kristen. It’s definitely a new world we have moved into and I get confirmations every day from different sources that the blockchain is being recognised as a more ‘secure’ way to move money than anything else.
    To use it in real estate anywhere in the world will be amazing. I am grateful that being on the compumatrix journey has allowed me to ‘grow’ in this new world we are living in.

  15. congratulations on all your accomplishments, Kristin. All we do or have done seems to have been stepping stones to bring us to Compumatrix at this time. I am becoming aware more and more how the blockchain or types of the blockchain are being implemented.
    I enjoyed reading about your evolving to Compumatrix. I pray blessings from your endeavours.

  16. Well, this is really good to know I had no idea real estate was using blockchain technology already. This will be great for all cryptocurrency users. How exciting to know blockchain is getting adopted in big business I think it will change the world in time.and it is transparent and like you said a fantastic time-saver with deeds and titles and all the paperwork.

  17. Wow Kristin, thanks for sharing your professional insight about Blockchain and real estate. Yes, Blockchain came as a disruptive feature that open door to many industries, businesses, real estate, professionals, and other ways of life.
    Transparency and decentralization make trust useless for it exposes openly what we see leaving fraud, scam, and other malicious events inoperable.

  18. Kristen what a great blog and what an amazing day that will be when we can actually buy a house for our mom with bitcoin. I know others are already doing it but I’ll be glad when we get there that will be an amazing day!

  19. Kristin, what an interesting blog for sharing your professional insight about Blockchain and real estate. I am looking forward to the opening of Compumatrix to be able to buy real estate with bitcoin hopefully soon and enjoying the fruits of our early involvement with this company. Personally, I still prefer the open house style, and it’s still available in the country I live now.

  20. Very interesting how real estate sales have gone virtual so quickly. Maybe I have just outlived my brain but this is an area that seems more difficult than I am prepared to tackle. I have enough trouble just getting to the correct web site, but you make it sound so easy. Maybe I need to get a more positive attitude before diving into this new learning adventure. Either way, it is still so interesting reading your blog and very impressive to see how well you have progressed to make your business a success even in this very strange year of 2020.

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