The Block Talk Awards 0 297

The first inaugural Block Talk Award nominations are open now. The 2018 Awards will recognize the influencers that are pushing the industry forward through innovation and analysis. Nominations will be accepted from August 13, 2018 to September 1, 2018 at 10pm PT. To qualify, influencers should have at least a cumulative following of 10,000 across social media platforms, or similar readership across relevant blogs and web properties.

Winners in each category will receive a $1500 media credit on The Block Talk, access to a network of TBT Award honorees, and VIP access to TBT events in 2019.

Nominate yourself or your favorite influencers in the following categories:

  • Best ICO Analysis & Commentary
  • Most Engaged Community
  • Favorite Blockchain Blogger
  • Best Crypto Journalist
  • Innovative Female Founder
  • Best Podcast Host(s)
  • Favorite Blockchain Event Host
  • Top Crypto Speaker
  • Most Innovative Blockchain CEO
  • Top Social Entrepreneur

Submit Your Nomination

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Tina Mulqueen is the CEO of Kindred PR. She consults with reputable ICOs on marketing and public relations strategy, helping clients to secure more than $10M in funding. She was named one of the top young communications professionals by INC Magazine, and her campaigns have been featured in Adweek, Entrepreneur, INC and Forbes, in addition to multiple other niche and television outlets. She's an advocate for women in technology, and often speaks about the intersection of technology and retail marketing. She writes regularly for Forbes, and has written for Huffington Post, Today, Thrive Global, Elite Daily, New York Lifestyles Magazine, and more.

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Kenya Looks to Blockchain for Affordable Housing Project 1 143

The “Silicon Savannah” is moving deeper in direction of tech. The Kenyan government has announced a plan to manage the property allocation and funding of 500,000 affordable housing units with blockchain technology.

The units, which the government aims to build by 2022, will be set aside for households with an annual income below 100,000 Kenyan Shillings, about $990 USD. The World Bank estimates Kenya’s gross national income per capita at $1,290, according to Business Daily.

Blockchain will help ensure that the affordable housing is in fact going to those who fall below the average income bracket. Land title fraud has caused problems for Kenyans, as land grabbers target homes and even schools for illegal sales and development. Blockchain’s ability to store verifiable proof of title could help safeguard against fraudsters.

“Kenya will use blockchain technology to ensure the rightful owners live in government funded housing projects,” said Principal Secretary of Housing and Urban Development Charles Hinga, speaking with the World Bank on Monday.

Hinga said the plan will be financed by the National Housing Fund, which will raise over $59.5 million per month to get the project underway. But Cabinet Secretary for Transport, Infrastructure, Housing and Urban Development James Macharia said it will take $31.7 billion to build a million homes, each of which will cost between $3,000 and $30,000. Macharia called for support from private sector financing.

Under the financing plan, working Kenyans will contribute 1.5 percent of their salary, which will be matched by their employers. “On affordable housing one should not spend more than 30% of their disposable income for housing,” Hinga tweeted yesterday. “Anything above 30% is not affordable.”

A Trustless Relationship Between People and Government

The initiative represents a considerable push to solve housing and title problems for the nation’s lower income families. But how will the government decide to whom the housing units will go? With so much talk about financing underway, people are already calling on the government to outline a plan for how they’ll distribute the affordable housing units.

The government will need to deliver the housing projects in a time when, Hinga acknowledges, the public is skeptical. Earlier this year $78 million went missing in a corruption scandal involving the National Youth Services. Where there is little trust between the people and their government, Kenya hopes to establish transparency through the blockchain’s distributed ledger system.

Kenya’s Move Toward Tech

In March, Kenya’s Ministry of Information, Communications and Technology appointed a blockchain taskforce to explore the ways the nation could use blockchain technology in the public and private sectors. They called it the Distributed Ledgers and Artificial Intelligence taskforce, and by September its chairman, Bitange Ndemo, was calling on the government to tokenize the economy.

Ndemo also proposed government implementation of blockchain to certify the authenticity of retail goods, so consumers can be sure of where their food is coming from, for example.

Governor of Kenya’s central bank Patrick Njoroge has also voiced support for the use of blockchain technology to strengthen service delivery, although he’s opposed the use of tokens and digital currencies.

But the affordable housing initiative could be the Kenyan government’s first real world implementation of the blockchain.

Real Estate Doesn’t Need to Be So Complicated 1 385

Because blockchain is basically data management, one industry it stands to improve a great deal is real estate. The process of buying and selling real estate is first and foremost a data transfer. There were $463.9 billion in large cap commercial real estate investments nationwide in 2017. All that money moves paper. Since land cannot actually be owned, the idea of land ownership must be exhaustively documented, organized, purchased and sold. The myriad processes that make up one transaction, namely title transfers, putting funds through escrow, and navigating an outdated MLS system, all stand to benefit from a technology upgrade.

Blockchain could quicken and simplify these processes by virtue of its transparent, untamperable and near instantaneous handling of data. “What if you could irrefutably determine who previously owned a property, record with absolute certainty who the new owner is after it sells and reference the blockchain at any time to verify all previous owners?” asks Mark Rutzen, Co-founder and CEO of Eondo Inc.  “Even the combination or splitting of parcels would be easy to record with blockchain technology,” he adds.

Moving into the future of real estate, particularly commercial real estate and investment, will soon mean embracing the block. Here are some of the ways blockchain is changing real estate.

Financing Developers and Investors

For anyone in real estate investment or development, the most glaring obstacle is getting the upfront capital when you find a good opportunity.

“Real estate investors and developers are turning to new technologies like blockchain smart contracts to find more liquidity at lower costs,” says Joseph Snyder, CEO at Lannister Holdings, an Arizona-based technology company working to create more blockchain lending and crowdfunding tools through their Lannister Development subsidiary.

Lannister is publicly traded and regulated by the SEC, which is uncommon for a blockchain company. But Snyder sees it as an inevitability in the long term. He anticipates a future where blockchain real estate regulation is the norm, and blockchain development like Lannister’s is part of mainstream business development and commerce.

“We wanted to be heavily regulated up front,” he says. “We believe regulation and financial compliance are coming down the pipe.” And, according to their website, they “see a future of security, transparency, and growth beyond the stale oligarchy of traditionalists.”

Systems like this give access to capital to smaller investors and developers who don’t have a lot of capital to work with up front. In theory, this could level the playing field.

Real Estate Professionals Worldwide Are Developing a Blockchain Future

Others are envisioning a near future where you could buy a house with a click on a shopping cart icon. If blockchain can clean up the real estate process enough, it could do more than just disrupt the industry. It could give it a total overhaul.

The P2P nature of blockchain enables faster sales and a higher volume of deals closed with fewer legal headaches and administrative fees. It also means a trustless economy and immediate processing of property values and other technical details, like zoning regulations or utility expenses.

Organizations like the International Blockchain Real Estate Association, or IBREA, are dedicated to incubating the many possibilities produced by the intersection of real estate and blockchain. Local chapters of IBREA hold meetups in 23 cities for its 5,000 members to come together as professionals and co-educators, with the goal of moving the real estate world into the blockchain age.

According to Ragnar Lifthrasir, founder of IBREA, “real estate technology is going more peer to peer.”

“I think what people are missing with blockchain and real estate is the data problem,” he adds. “We have so much data in real estate. So to really do blockchain real estate well you also have to have a good data system, which is distributed file storage, or IPFS.”

Real Estate Without Headaches

With some real world testing to work out the bugs, blockchain real estate could take us into a future where we can buy and sell property as easily as we do a cup of coffee. With data properly arranged and the transactions secure and transparent, there will be no need for the systems currently governing the industry—nor the room for error, delays and complications they open up at every step.

For anyone with aspirations in real estate development or investment, blockchain promises to open a lot of doors.

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