“What’s Next?” was one of the themes at #ICNY / #ICNY16 and a day after two blockchain gurus wow’ed that audience in NYC, a blockchain-enabled Bidding War platform quietly won an MIT Hackathon! Here’s the problem statement:
What’s next for blockchain in real estate? The Realtors have started an impressive lab — @CRTLabs — that’s Powering the Internet of Things for Realtors. Does that present an opportunity to collaborate or are consumers better served by their own lab? What role might innovators in Boston play?
Building a multiple offer / bidding war prototype is just one point of entry for dozens of blockchain-enabled use cases in the real estate ecosystem. RESO — Real Estate Standards Organization — is also exploring blockchain as a solution to their PUID (Property Unique ID) — arguably the digital cornerstone of the MLS.
For unofficial background on this baseline opportunity, visit the wiki from the Future Commerce Hack at MIT in November 2015 to see slides, links, and (dated) discussion of PUID:
Three opportunities are emerging:
1. First, if you would like to seed a Blockchain in Real Estate MeetUp in Boston, join one in Washington, DC, or start one in your local community, please let us know. We’d like to see cross-sector groups of consumer / civic tech / OpenGov advocates, as well as real estate innovators and app developers form nationwide, even internationally.
2. Second, if you’re a real estate innovator who would like to co-create an open ecosystem in real estate industry capable of delivering billions in consumer savings annually, that’s the goal of #RE2020. Please follow that hashtag on twitter, and share any time one of your clients (or DIY homebuyer / sellers) saves money! Our goal is $30 billion annually by the year 2020.
3. Finally, the National Association of Realtors is bringing their annual convention to Boston during November 2018. Traditionally, they’ve placed the real estate agent at the center of the transaction, but consumers need a “New Deal on Real Estate Data” that places personal data at the center of the transaction. Want to participate in a series of activities over the next three years to address this question:
What opportunities do you see, and how can we work together? The headwinds that face the housing industry in the emerging future need cross-sector collaboration. What to contribute to the conversation, online and off, on the road to Boston in 2018? We need your insights to elevate the conversation!