Instant Property Market

[Julian_Williams]

Amongst biggest things yet in terms of potential - R3 + Corda (+ XRP as Corda's DA) together making play for the 200 trillion dollar property market.

This really demonstrates how threads of ideas coalesce into new ways of doing things on the Internet of Value

http://instantpropertynetwork.com/

I have to credit Digital Asset Investor on You Tube for this link - I think he is making an interesting point

Its worth looking at the video put up a few days ago by Karma coverage, they are describing this sort of automated self auditing permissioned blockchain smart contract systems  The FinTech Revolution - Berkeley Haas

 

Edited December 15, 2018 by Julian_Williams

[KarmaCoverage]

@Julian_Williams earlier in that video he discusses real estate titles going digital. 

I often use the analogy of a real estate "chain of title" to explain to non-tech folks that a blockchain stores a chain of title for it's digital asset.

There is a guy I know who has a patent suite for putting real property titles in a database, and then being able bifurcate the bundle of rights which come with the typical warranty deed.

Last I spoke to him, he sent me something from r3 about a mortgage registry, and I think there was other thinking about real property titles.

The video you posted looks like my project that I was working on around 2010, to create a network of property profiles (all all the rights, who owns what rights, & a market with a P2P pricing mechanism to reduce liquidity risk & transaction costs market wide).

I could never find software that could do what I needed. Fast forward a few years and I'm working on a P2P coverage business model for the risk markets (KarmaCoverage) but the model was getting killed by transaction costs.

Did some googling, stumbled upon PeerCover, which was using something called Ripple.. so I took a look and 😍 there it was! The software functionality I needed to do the real estate markets.

So I'm not surprised r3's Corda found real estate when they went looking for a problem after building a solution.

I guess I need to look at Corda again, from my first glance a while ago, I can see how there would be advantages over using Rippled, but I also think Rippled has some very difficult functionality to program readily available. Maybe coupling the two systems together could be the best solution. 

Edit: Here is a slide from the pitch deck from early 2011. I called it, "The NASDAQ for Real Estate". Went out to SF, met with Yahoo (#2 online real estate at the time) and Trulia. I told Trulia that Zillow had them beat, because I had pitched Benchmark and Shasta Ventures I think. Anyway, just before I went out there Benchmark funded Nextdoor with several million. So I told Trulia, that if they didnt get their data into a network structure they would be beat by the Zillow + Nextdoor combo (Zillow's founder was the funding partner at Benchmark). Trulia sold out to Zillow about 9 months later.

Then Nextdoor went and screwed it up by focusing on the home occupant and pursued a "local advertising" business model. They have wasted a lot of capital IMHO. So maybe now with blockchain, we can actually see the real estate market architecture get re-engineered and some of these liquidity risks be reduced.

Edited December 15, 2018 by KarmaCoverage

[Guest]

1 hour ago, Julian_Williams said:

Amongst biggest things yet in terms of potential - R3 + Corda (+ XRP as Corda's DA) together making play for the 200 trillion dollar property market.

This really demonstrates how threads of ideas coalesce into new ways of doing things on the Internet of Value

http://instantpropertynetwork.com/

I have to credit Digital Asset Investor on You Tube for this link - I think he is making an interesting point

Its worth looking at the video put up a few days ago by Karma coverage, they are describing this sort of automated self auditing permissioned blockchain smart contract systems  The FinTech Revolution - Berkeley Haas

 

Awesome use case.

 

[Julian_Williams]

1 minute ago, 7Bs said:

Awesome use case.

 

Ah - it looks as if this story has been posted by Peanut56 - sorry about that.

[peanut56]

I don't mind. If it wasn't reposted somehow then I wouldn't have gotten to read KarmaCoverage's comments. Anyway, someone else may have more input that leads to new ideas and ect.

[KarmaCoverage]

One of the big players in this will be Thompson Reuters. I dont remember exactly what the article said, but some time ago someone posted about Thompson Reuters looking into blockchain, for something. 

Their role in the industry is they sell +90% of the county property appraiser offices the software they use to manage the property records, and +90% of the county clerk of court offices, which is where the transactions are made official upon being recorded with the clerk of court.

Tiffany Hayden also had a thread a while back regarding the Title Insurance industry, and I think how it is comprised up mainly 2 companies, and one family  has substantial ownership in both. One is here in Jax Florida bit office building on the river downtown,  I'm sort of trying to network in and go speak with their leadership.

The title insurance industry could be facing an existential threat, if real property "chain of titles" can be instantly and for free verified by checking the public distributed ledger (run by county property appraisers) who have the responsibility to maintain the public record.

Edited December 15, 2018 by KarmaCoverage

[ImTheRippler]

Corda is bigger than it seems. They already have a lot of clients and some neat software in the pipe with hardware encrypted private virtual machines.

[Guest]

I for one was sleeping on R3 and Corda's importance. Things changed quickly.

[Hodlezerper]

This is going to take some seriously forward thinking real estate professionals to push this through. I'm not confident most real estate agents are smart enough or risky enough to understand what this even means....

[KarmaCoverage]

1 hour ago, Hodlezerper said:

This is going to take some seriously forward thinking real estate professionals to push this through. I'm not confident most real estate agents are smart enough or risky enough to understand what this even means....

Real Estate agents are not always the most savvy folks. Back when I did my first software project it was a Return on Investment calculator tool for real estate agents to use and help their client buyers & sellers better understand the personal financial impact of a home. I cant tell you how many agents told me point blank that "clients dont care about all that numbers stuff, they want a nice kitchen". At the time, immediately past crash 60% of buyers were "investors", this was true up till about 2010. That project got ripped off by revestor.com who raised the exact funding amount I was asking for, and one of the "investors" I pitched participated. The PR announcement was on my birthday 

I think that revestor guy ran out of innovation though, sort of like Nextdoor.com "never got it" that this was a market re-design opportunity, and went off in search of local advertising (which was the buzz in investor circles at the time). Back when I had to give up on those two projects, I said, "even if I get dead, this will get done sooner or later"... tick tock tick tock... Now we have this Corda real estate project.

The same story will unfold with KarmaCoverage, unless it gets magically funded (maybe by XRP going up a lot ) . Currently none of the P2P coverage services have fully abandoned the insurance indemnity contract business model. I only know one that uses blockchain, and they messed up by doing BTC (all these came after KarmaCoverage late 2013,  except for Friendsurance in Germany)... tick tock tick tock... it will happen, even if I get dead.

Edited December 15, 2018 by KarmaCoverage

[Julian_Williams]

26 minutes ago, KarmaCoverage said:

Real Estate agents are not always the most savvy folks. Back when I did my first software project it was a Return on Investment calculator tool for real estate agents to use and help their client buyers & sellers better understand the personal financial impact of a home. I cant tell you how many agents told me point blank that "clients dont care about all that numbers stuff, they want a nice kitchen". At the time, immediately past crash 60% of buyers were "investors", this was true up till about 2010. That project got ripped off by revestor.com who raised the exact funding amount I was asking for, and one of the "investors" I pitched participated. The PR announcement was on my birthday 

I think that revestor guy ran out of innovation though, sort of like Nextdoor.com "never got it" that this was a market re-design opportunity, and went off in search of local advertising (which was the buzz in investor circles at the time). Back when I had to give up on those two projects, I said, "even if I get dead, this will get done sooner or later"... tick tock tick tock... Now we have this Corda real estate project.

The same story will unfold with KarmaCoverage, unless it gets magically funded (maybe by XRP going up a lot ) . Currently none of the P2P coverage services have fully abandoned the insurance indemnity contract business model. I only know one that uses blockchain, and they messed up by doing BTC (all these came after KarmaCoverage late 2013,  except for Friendsurance in Germany)... tick tock tick tock... it will happen, even if I get dead.

When people mimic/steal ideas of others they always do it badly because they don't get the essence of the thing.

 

[princesultan]

4 hours ago, KarmaCoverage said:

@Julian_Williams 

Did some googling, stumbled upon PeerCover, which was using something called Ripple.. so I took a look and 😍 there it was! The software functionality I needed to do the real estate markets.

 

Wow... Peercover. Have not heard that name for a long time. That's one for the old ripple heads around here. 

[KarmaCoverage]

26 minutes ago, princesultan said:

Wow... Peercover. Have not heard that name for a long time. That's one for the old ripple heads around here. 

I ended up speaking with Jared on the phone back then. He told me how Goldman Sachs an MIT were stealing his IP, or something. I was hoping to find someone I could work with, but that's not what I found. His tech was good enough, but he didnt understand some business & legal issues that his model was exposed to... he was offering indemnity.

Ironically another guy in NZ started a PeerCover.co.nz which is a P2P type of coverage service. I spoke with him also, actuarial background. He didnt know much about distributed ledger tech, I was asking because this was about the same time as when Sean had to shut down his NZ gateway, in part due to that $1 million XRP transfer that Jed sent through his gateway to Stellar.

[Phintech]

1 hour ago, KarmaCoverage said:

I ended up speaking with Jared on the phone back then. He told me how Goldman Sachs an MIT were stealing his IP, or something. I was hoping to find someone I could work with, but that's not what I found. His tech was good enough, but he didnt understand some business & legal issues that his model was exposed to... he was offering indemnity.

Ironically another guy in NZ started a PeerCover.co.nz which is a P2P type of coverage service. I spoke with him also, actuarial background. He didnt know much about distributed ledger tech, I was asking because this was about the same time as when Sean had to shut down his NZ gateway, in part due to that $1 million XRP transfer that Jed sent through his gateway to Stellar.

He was obviously a smart dude, but damn cray at the same time.  I remember him wanting to go after the Clinton’s at one point about something.

[princesultan]

He also said that ethereum stole his idea and was going to sue them. I actually felt bad for the guy since he was certainly dealing with some issues (but likely a very smart person as well)