The Enterprise Ethereum Alliance (EEA), an alliance formed by members which are involved in the Ethereum blockchain system, has recently decided to publish a detailed set of use cases which are relevant to the real estate industry.
According to the official reports, this document will be the result of several months of work which were done by the members of the alliance. The report includes over 50 real estate companies and describes a total of four different use cases, from tokenizing several real estate properties to allow a more granular investment in this area.
The document affirms that the heavily awaited proof of stake technology will help to decentralize the community a lot and that the core team of Ethereum us currently working in Casper, which will be a solution that will make some of these use cases possible. It also affirms that there are currently over 200,000 developers working on several live products which can be used as tools in the industry.
Therefore, the EEA believes that the blockchain technology has plenty of potential to be used in the process of recording and transferring properties, which is generally very lengthy. This will increase the transparency of the whole process and also be important in order to make it more seamless and trustless.
Another important use case described by the company includes using token-enabled marketplaces in order to improve both the trading and the management of real estate properties.
Using these solutions, someone could have a considerably easier life in the real estate market, especially the investors holding small stakes since it will be easier for them to liquidate their assets or to trade only a fraction of them.
A new system that would standardize the property could also be set up in order to automate even more the process. The author of the report also affirmed that it was common to hear that the blockchain will solve everything and this is actually not far from the truth. It will change a lot in this market with the clever use of technology.
This new report also cites a pilot program which was already started in cooperation with the Propy Inc company, a real estate blockchain company which was launched last year.
The EEA is known as a global organization that creates and maintains the adoption of Ethereum in the world.
This just in: We announced the publication of a detailed set of Enterprise Ethereum blockchain use cases for the real estate industry prepared by the EEA Real Estate Special Interest Group (SIG). Learn more and download it now! https://t.co/ZD2uH7ifoQ
— EntEthAlliance (@EntEthAlliance) May 23, 2019