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Blockchain, a term still unrelated to many, is having an impact between industries and around the world. Technology has gained popularity through Bitcoin, the digital currency that is now trading at a higher market volume $ 2 trillion. At the time of the introduction, blockchain was a revolutionary step towards transparency and a decentralized structure that offered full ownership control in peer-to-peer transactions.
With the popularity of the blockchain in the concept, technology stands out from Bitcoin, expanding into sectors outside the currency market. Its fundamental ability to record transactions on an open and decentralized register without any third party involvement has demonstrated the real benefits in terms of efficiency and cost reduction for stakeholders, resulting in a blockchain boom.
While Bitcoin was offered only in a currency format, the use of it raised ideas and further progress with the creation of Ethereum.
Created to offer monetary value in the form of loans or contracts, Ethereum has opened the door to smart contracts, a protocol that facilitates negotiation and ensures compliance with the terms of a contract. In the absence of bias and involvement of third parties, companies and investors are now assessing the efficiency of Ethereum in terms of time and money.
Highlights of 2018
From the offer of individual property listings through the imbrex and the sale of properties to buildings and institutional transactions, 2018 marked a turning point, celebrating several firsts of proven technology.
Manhattan has claimed the first tokenization of a $ 30 million property with an offer of 436 and 442 East 13th Street, a condominium of 12 newly built units. Led by Propellr and Fluidity, tokenization offers potential investors flexibility and opportunities that would otherwise not exist in traditional financing models.
Another first was seen in the $ 20 million private equity offering for off-campus student accommodation at the University of South Carolina. Harbor Platform Inc, an all-in-one platform for commercial properties tokenised in collaboration with Convexity Properties to rationalize ownership of the equity property divided into 955 shares, represented by 955 tokens at the price of $ 21,000 each.
The Outlook on 2019 – Scaling of Blockchain
In 2019 a significant change is expected in the conversation about how the blockchain can influence the flow of data.
The information is a resource with individual agents and brokerage firms of all sizes that recognize the inherent advantages that the blockchain and the smart contracts present in controlling the flow downstream of it.
In the next year, we will see more products and services that support the early stages of data markets and the introduction of protocols such as Tegula that offer global interoperability between different systems.
In 2019, we will also see blockchain 2.0 updates that will add even greater speed to transaction processing. Updates, such as the Serenity version of Etherum, will significantly increase processing time from the current 14 transactions per second to over 100.
