The blockchain is already revolutionizing the digital currency landscape. A few years ago, a decentralized currency was unthinkable — how volatile would it be when not backed by a government? However, with the success of cryptocurrencies like Bitcoin that are supported by the blockchain, people are realizing that it could have far more uses than expected — and the next landscape blockchain has the ability to disrupt is real estate.
Buyers, sellers, and renters of real estate are experimenting with blockchain technology to trim burdensome middlemen from the industry. Precious few real estate transactions proceed directly from provider to client. There are typically notaries, agents, lawyers, banks, trusts, and more in the mix. Even relatively simple issues, like renting parking spaces or charging for utility use, involve intermediaries. With everybody targeting improvement within the different areas, the real-estate world has sought the technology to enable the removable of intermediaries, and most of all tackle the typical challenges of the real estate supply chain issues.
Blockchain technology eliminates the need for a trusted (and expensive) party to facilitate digital transactions, allowing those involved in the transaction to use a distributed, peer-to-peer network — that is, the blockchain — instead. The implications of blockchain for the real estate industry are enormous. Blockchain can make MLS property data more centralized and accessible, title records easier to track and transfer, and it can make transactions more efficient and secure.
Fortunately, an crowdfunding investment platform, Westrend, plans to globalize and digitize real-estate services by using Ethereum Blockchain technology to establish a real value of the properties.
Westrend is a crowdfunding investment platform based on the Ethereum Blockchain Technology. A global platform that is reliable, secured and transparent. A platform that allow participation and access to all investors worldwide through the cryptocurrency WESTRENDCOIN (WES). Westrend Real Estate projects will begin in the Southern California market, India, Vietnam, and then the rest of world with up-to-date real estate projects with full transparency.
The solution will employ Ethereum smart contracts to enable project owners/managers and investors to fund real estate projects and distribute profits. Westrend platform is supposed to directly connect investors and investment opportunities, eliminating the need for intermediaries.
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