“Blockchain technology will not only affect financial markets. From now on, blockchain technology will also impact real estate transactions, smart city planning, and other areas in the real estate industry,” said CEO of Bitcoin.com Roger Ver in an interview with Korea Economic Daily on July 20th.
Ver is an early investor of bitcoin, and has been an influential figure throughout the establishment of blockchain ecosystem. He has invested in blockchain-related start-ups such as cryptocurrency Ripple and crypto exchange Kraken among others.
Ver will participate in Real Estate Blockchain Expo 2018 (RBE 2018) as a keynote speaker; RBE 2018 will take place on September 19 – 21, 2018 at COEX A Hall, Samseong-dong, Seoul, Korea, and will introduce the potential convergence between real estate market and blockchain technology.
“Blockchain technology can innovatively decrease the transaction costs, and has much potential to be used inside the real estate market.” The use of blockchain technology itself can increase transaction security without the need of taking any additional outside measures to make a transaction secure.
Blockchain records a certain number of transactions that has taken place during a specific period, and verifies and records the transactions into a block. Since a new record inside a block is always connected to a previous block, it is nearly impossible to manipulate the data.
“In the United States, every real estate transaction is required to have a title insurance, which is very costly, to avoid any potential conflicts between buyers and sellers. The implementation of blockchain technology into a real estate transaction will eliminate the need for a title insurance.”
The CEO of the cryptocurrency trading platform believes that cryptocurrencies are not an alternative investment tool to real estate investment, but a complimentary investment tool. He noted:“In the United States and Europe, real estate mortgage financing products that use cryptocurrencies as collateral have already been created and that “cryptocurrencies can act to replace the role of fiat money and escrow services in a real estate transaction.”
Ver also projected that blockchain technology will play a big role in smart city developments in future.
“Blockchain technology can blend into our everyday lives alongside the Internet of Things. In the United States and the Switzerland, there have already been cases in which people pay electricity bills and property tax by using cryptocurrency. As blockchain technology continues its development, much more transactions will be processed faster, and there is a great potential for its use in a variety of ways.”
He pointed out that the biggest hurdle that prevents the implementation of blockchain technology into many different areas including real estate is not its technological capability, but regulatory issues.
“In most countries, real estate industry is not following up with the speed of technological innovation,” he said, arguing: “For blockchain technology and cryptocurrencies to be widely used, old regulation rules must be changed.
Subscribe to AMBCrypto’s Newsletter
Ampleforth [AMPL] To Conduct First IEO on BitFinex and Ethfinex’s Blockchain Project Launch Platform, Tokinex, in June
Ampleforth’s whitepaper, co-authored by Manuel Ricon Cruz, a researcher at the Hoover Institute, introduces the Ampleforth protocol. Further context for understanding the implications of AMPL as a new type of synthetic commodity and economic theory is provided in the accompanying Red Book.
The appeal of digital assets like Bitcoin is that they are uncorrelated with traditional asset groups. But, among large-cap digital assets, there is a high degree of non-diversifiable risk and the price volatility of most cryptocurrencies mimic that of Bitcoin.
Evan Kuo, CEO, and founder of Ampleforth said,
“We see Amples as having a near-term utility that naturally dovetails into a much bigger vision, and I can’t wait to see it unfold. The Bitfinex and Ethfinex user communities are among the best in the industry, and we are excited to work alongside the Tokinex team for Amples’ exchange debut.”
Ampleforth’s protocol receives exchange-rate information from trusted oracles and propagates that to holders of Amples by proportionally increasing or decreasing the number of tokens each individual holds according to the magnitude of the exchange rate fluctuations over the previous 24 hrs.
For traders, these changes in the exchange rate and quantity translate into changes in Ample’s market capitalization. Ultimately, unique trader behavior in response to the protocol’s incentives is expected to produce an asset price with lower correlation to Bitcoin than other digital assets.
Jean-Louis van der Velde, CEO at Bitfinex, stated
“The Ampleforth project is fascinating to us with its refreshing vision to become a unique digital asset and serve as a potential future reserve currency. We believe it can provide a unique volatility profile, uncorrelated to other digital and traditional assets. This uncharted territory makes Ampleforth, and the team behind it, the perfect first project to list on Tokinex and we are excited to provide an opportunity for the community to be a part of it.”
Paul Veradittakit of Pantera Capital said,
“Ampleforth is interesting because there’s not another asset like it, so it will likely not be correlated with other large-cap cryptocurrencies. With more traders and enthusiasts entering the ecosystem since the last rise, there needs to be an option like AMPLs, which could reduce the risk for the entire space, and potentially attract more institutional interest.”
Ampleforth is a digital asset protocol for smart commodity-money funded by Brian Armstrong, True Ventures, Pantera Capital, and Slow Ventures. For more information, please visit our website.
Launched in May 2019, Tokinex is the IEO platform of Bitfinex and Ethfinex that brings fair opportunity to participate in curated token projects. It gives qualified participants the chance to contribute to pre-vetted token sales directly from their personal wallet through common crypto assets, and with no personal data or funds held by the exchange.
Tokinex uniquely does not require tokens to pay an upfront fee for listing and following a successful capital raise are subsequently listed on the two exchanges as permitted by applicable law.
For further information please contact.
Subscribe to AMBCrypto’s Newsletter
Bitcoin [BTC]: Morgan Creek CEO compares BTC returns to endowment returns
UCIM pitcher perfect Hodl-o-Nauts taking-off to Hong Kong for the third edition
Ripple-backed InstaReM to roll out cross-border transactions by collaborating with Thailand’s Kasikornbank
Rabobank announces plans to drop its crypto-project
BSV STN is mining 1.4-gigabyte blocks; Is this a scaling solution or a journey towards centralization?
Tron [TRX] announces future trading on OKEx platform from May 20
Bitcoin’s [BTC] Lightning Network is awesome, says Blockstream’s Samson Mow
Crypto is replacing the US Dollar and no one seems to be noticing, claims prominent investor Robert Kiyosaki
Coinbase extends XRP trading access to New York users; coin pumps by 22%
Litecoin [LTC] bought at $100k on Binance when coin was trading at $90
Cryptopia hack: Over $7 million worth of Ethereum [ETH] transferred by hacker to unknown wallet
Tron [TRX] DApps surpass Ethereum, EOS in terms of weekly active and new users
XRP/Ripple: R3’s Corda to further partnership with credit-union centric CULedger
Bitcoin? Bitcoin Cash? Bitcoin Satoshi’s Vision? Will the real Bitcoin please stand up?