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Blockchain and real estate: What the future holds

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Buy real estate in areas where the path exists and buy more real estate where there is no path, but you can create your own.
~David Waronker

I often find myself procrastinating about investments. Actually, we all do. With so much uncertainty in the market, and with many of us being risk-averse we often find ourselves wondering Where to invest? How much to invest? What are the returns like and for some reason, most of our minds tend to shift to real estate, kashamba.

Despite a few unfortunate cases of people losing money to some few unscrupulous companies, the allure of seeing your investments physically, somehow tickles your mind into leaning towards real estate.

However, with the progress of technology, new alleys of investments are always coming up. Yes, I am talking about blockchain and cryptocurrencies.

Blockchain and cryptocurrencies is still a foreign idea to many Kenyans. But honestly, we also don’t have many real estate experts around and yet, we still invest our money there.

Exponential Potential

To understand the potential of blockchain imagine that we are in 1994 and that someone is telling you about how the internet will revolutionize the world. Or imagine that you are in 1998 and that some Ph.D student is asking you to invest all your money in a project called Google. With the knowledge that you have now, what would you do?

Blockchain is still young but luckily, we can read blogs about blockchain and cryptocurrencies to at least give us a general idea of the underlying concepts and current applications.

The beauty about blockchain, the underlying technology in cryptocurrency, is that it is highly adaptable.

It removes trust in the equation.

That’s HUGE if you think about the implications it has on the real estate market.

You can put the KYC process of buying a condo/house. Put a bidding system on properties for sale. Verify titles of condo units, or more importantly, land titles for horizontal developments. The list goes on and on and on.

Luckily, there have been an influx of companies showing deep interest in the subject and are not afraid to get their feet wet, so to speak.

Rent Berry Real Estate

One such company is Rent Berry. Rent Berry offers a decentralized blockchain powered platform for long-term rentals that is cost-efficient, secure and convenient. The platform verifies the information of both renters and landlords that effectively cultivates trust between the 2 parties involved.

Rent Berry streamlines the whole renting process and eliminates existing difficulties such as time delays, increased scam rates and friction points while offering the ability for community members to help back quality tenants, unfreezing millions tied up rental security deposits in the process.

There is indeed synergy between blockchain and the real estate market. What’s more surprising is that this is just 1  of the thousands of companies exploring and utilizing the blockchain to find ways in advancing our day-to-day activities.

So go ahead, read up on all things blockchain. Don’t get left behind. After all, this will definitely change the very way we live.

 

 

 

 

 

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