Last week I spent the week at MIPIM, the largest conference in world dedicated to real estate. The conference is focused mostly on traditional real estate, but a portion of it was dedicated to what is often referred to as PropTech in Europe. What’s most interesting to me is how companies are applying technology to real estate and one of the big opportunities is bringing blockchain technology to real estate.
The session I enjoyed the most was dedicated to this, titled “Blockchain: What are the opportunities & challenges of peer to peer real estate?”. Although the general consensus was that we are still early when it comes to widespread adoption of blockchain for real estate there were several interesting takeaways.
One of the panelists was Achim Jedelsky, who works for Daimler Real Estate, a division of the auto company. The company is currently looking at what improvements can be made for existing processes, including transactions. While it was clear they are only exploring a few use cases internally and he didn’t get into specifics it’s interesting that a company that focuses on automobiles is exploring blockchain. Daimler is a company that may not strike you as an innovative company, but they are clearly forward thinking even in their auto business having recently invested in auto finance startup AutoGravity.
One of the companies focused on blockchain applied to real estate that is making more progress is velox.RE. Founder Ragnar Lifthrasir spoke on the panel explaining his company’s open real estate platform that includes property transfer, recording, and payments. He is also the Founder & President of the International Blockchain Real Estate Association which aims to help the real estate industry adopt blockchain technology. [Read more…]