Real Estate Platform Uses Ethereum Blockchain

Real Estate Platform Uses Ethereum Blockchain

The use of blockchain technologies is steadily going more and more popular. The latest example is the launch of ShelterZoom, an Ethereum-based online platform. It provides customers with live offers from the real estate industry.

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The use of blockchain technologies is steadily going more and more popular. The latest example is the launch of ShelterZoom, an Ethereum-based online platform. It provides customers with live offers from the real estate industry. So far the platform is available only in the USA but the plans are it will go global in the first months of 2018 with its adoption by Canadian, Australian, European and Middle Eastern companies.

The pilot started in November and the first real estate listing customer is Cyrus Charter, based in New York. Additional 10 more companies began a beta test. The aim of ShelterZoom is to make the process of buying and selling more transparent and trackable. Furthermore, the amount of paperwork could be significantly reduced. The platform is trustworthy having in mind it is built in accordance with Real Estate Organization standards.

Very soon, The ShelterZoom mobile app Offer NOW is going to be available on Google Play and iTunes. Thanks to it, buyers and seller will have the chance to submit, withdraw and bid on offers in real time. Signups for the mobile widget are accepted on ShelterZoom free of charge until Jan. 31 2018. In February, each submission will be charged $8.

Chao Cheng-Shorland, ShelterZoom’s co-founder, and director believes that the platform has the potential to handle the entire real estate industry since widgets can be downloaded from any real estate website. He thinks so because according to him the future of business depends on transparency and security.

The platform allows each user to interact with others via chat interface when taking part in transactions. Moreover, agents, as well as buyers, are able to keep track of every action taken in the market – submissions, offers, bids, rejects, etc. Sergey Fadkov, ShelterZoom technical advisor, states that distributed ledger technologies are on the verge of breaking into marketplaces, organizations, and industries. He adds that this will create opportunities for all participants in the process.

If the pilot turns out to be successful, the crew behind Offer NOW is ready to release another widget – Rent NOW. It will be compatible with every real estate rent website and will allow users to do similar things to those on Offer NOW. Of course, customers will use smart contracts to build trust between one another.

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