A lot has happened since the inception of the blockchain and subsequent rise of Bitcoin, not to mention countless other cryptocurrencies. The growth of the industry has been quite exponential indeed, and it doesn’t look like things are going to slow down anytime soon.
But despite its growth, transactions that occur on the blockchain are still, for the most part, fairly disconnected from the real world. While many cryptocurrency transactions have had an impact in a number of places worldwide, for the everyman the underlying technology can still seem a bit too esoteric.
Enter Brickblock, an investment platform that aims to unite cryptocurrency holders with real-world assets.
Buying real estate with cryptocurrency
Real estate transactions using traditional institutions involve a lot of red tape. This is not because the industry simply likes to see people suffer, but more so to protect the assets that are being exchanged and ensure good business happens all around. However, this leads to many extra costs and long processing times. With the use of blockchain technology, all this fluff can be reduced and transactions simplified. The blockchain also adds a level of security and verification. Brickblock’s vision is to make the process of investing in real estate (as well as ETFs and coin funds) cheaper, easier, and more secure than what’s currently available.
Jakob Drzazga, one of Brickblock’s co-founders, recently wrote a blog post addressed to the Brickblock community to give an update on the company’s progress. This December, Brickblock will be the first platform to sell an apartment building over the blockchain. The property will be managed by a fund manager with over 30 years of experience in real estate, with dividends paid out to investors’ Ethereum wallets.
A promising team
On the admin side, Brickblock’s founders and department leads have put together an outstanding team of more than 20 full-time staff, including six developers, three high-profile advisors, and a very accomplished Chief Investment Officer. The next milestone will see Senior full-stack developer Matt Stevens and his team finish the alpha version of the Brickblock platform, which is set to launch before the company’s token sale.
There are many ways for blockchain technology to disrupt an industry, and real estate seems to be ripe for the picking. It will be interesting to see what unfolds once Brickblock’s platform fully launches and we begin to see the fruits of their labor.