Is yr system compatible with possible regulation? Im afraid that it wont be possible to formalize the transfer of the property.
I think there's more to this than meets the eye here.
It would not be so simple to transfer property via blockchain.
Haven't other real-estate projects tried already such endeavor.
And generally, they ended up in the trading business rather than its supposed usage.
Maybe blocksquare has the guts to implement it, but how?
Real estate title is kept safe by the government and using blockchain technology is up to the state to be implemented. We as a startup have no say in it. However, we can use the current land registry systems to do what they do best - make it cumbersome to transact. What's more, we created a legal structure to make it impossible to transact off-chain.
When this is achieved, you can create a new system to govern ownership. A system like Blocksquare that lives on top of the rigid legal structure underneath. This ownership can be fractional, tokenized. The rules of the market can be coded. Everyone can take part in it. Transacting becomes 100% digital. Currently, it makes sense to do it with commercial real estate investments, but when PropTokens can be used for taking a loan, it might make sense to tokenize your home too.
