Real estate blockchain set to go live in early ’19


New York-based ShelterZoom plans to launch a real estate application that will lets buyers and sellers transact deals over a blockchain-based network, which could make purchasing a house as easy as pressing a button on a smartphone or tablet.

Set to go live in the first quarter of 2019, the application allows sellers, buyers and real estate reps to see all offers and acceptances in real time online. Real estate agents, along with clients, can also access property titles, mortgages, legal and home inspection documents through the Ethereum-based encrypted blockchain ledger.

“Our current platform is already helping agents, buyers, sellers and renters make the big leap to technology’s present, and we’re excited to initiate another industry sea change in early 2019,” Chao Cheng-Shorland, ShelterZoom’s CEO and co-founder, said in a statement.

The start-up has been piloting its application with real estate firms over the past year; it’s now being tested by more than 90 brokerages around the world.

Blockchain, which is a peer-to-peer distributed ledger, can run on hundreds, thousands or even millions of servers, each of which has the same data entries as the other. Because everyone on a blockchain has access to the records, a consensus of users can validate whether a transaction is authentic or not. Additionally, the user’s personal information behind the record is encrypted.

ShelterZoom Offer NowShelterZoom

ShelterZoom’s “Offer Now” widget allows potential buyers to put an offer in on a property with a mobile device.

Mike DelRose, 32, a real estate agent with RE/MAX Revolution in Watertown, Mass., describes himself as a tech enthusiast who became familiar with blockchain after his cousin recommended he buy bitcoin, the cryptocurrency application that runs on blockchain distributed ledger technology.



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