Immobilium Uses Blockchain to Transform Real Estate Into Commodities – Press release Bitcoin News
PRESS RELEASE. The use of blockchain technology and cryptocurrency is rapidly growing. There are multiple projects looking to use blockchain in real estate, but can it truly transform real estate into commodities? Put simply, the technology to accomplish this is already present. Consumers simply need to learn to embrace it with Immobilium.
Immobilium approaches the use of blockchain in real estate with realistic expectations. The company does not want to disrupt the industry. It simply wants to provide options for helping the industry, overcome current hurdles, and encourage consumers to embrace this change.
The Blockchain Offers Real Estate the Benefits of Commodities
It’s one thing to say that the technology for real estate to become commodities already exists. But how does the technology behind Immobilium do this? It transforms real estate in several key ways that make it function more like commodities than traditional real estate.
Fractional Ownership
One of the most important ways that blockchain turns real estate into commodities via fractionalisation. Other projects have also explored this use case, so its potential was well established even before Immobilium. Using this structure makes real estate much more accessible for any investor.
Speed of Transactions
Speed of transactions is another significant trait of commodities that real estate can harness with the blockchain. Real estate transfers are notoriously slow, taking months on average. If a real estate transaction is completed in a matter of weeks, that process is considered pretty fast.
By contrast, using the blockchain can significantly reduce processing time. This is a feature already found in commodity trading, as you can trade instantly from anywhere. Added to the speed of use, the ability to trade from anywhere is also crucial. Founders of Immobilium Sasha Poparic, Nenad Mitosevic and Lazaros Georgiadis believe this is one of the pillars to the company’s success.
No Geographic Limit
Most real estate investors are closely located to their investments. This is convenient for them when they sign paperwork and attend to other aspects of their investments. They can also physically monitor all their transactions, giving them a sense of security. But nowadays, you can trade commodities from anywhere online. Blockchain accomplishes this for real estate, enabling you to buy or sell a property and transfer ownership from anywhere in the world.
Safety and Transparency
Many people think that it is safe to transact commodities because they are subject to regulation. Transacting real estate poses more of a challenge for investors. However, blockchain provides security and safety via the immutability and transparency of the ledger.
The Bottom Line
The technology to turn real estate into commodities is already there. When purchasing real estate, the blockchain allows for implementation of fractional ownership models, adds transparency and security, and removes geographic limitations. Consumers are ready to embrace real estate as a commodity, and doing so will open the door for additional liquidity and new real estate investors .
Real estate crypto projects like Immobilium are aiming to facilitate this very thing, by pushing the utility and use cases of blockchain technology to new dimensions, in the words of Immobilium founder Sasha Poparic;
“Welcome to Immobilium”
The future is fast in the rear view mirror readers, and objects may be closer than they appear.
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