Firstly this token is ownable. Which means we can sell it to a Landlord or his Property Manager.
Function #1 The tenant pays deposit
Function #2 The app checks that the deposit is not overpaid.
Function #3 Landlord withdrawals monthly rent
Function #4 Smart contract Oraclizes (paywall) sensitive customer data to an offline server. This means that the information is offloaded to an Oracle database server on the proprietor’s local computer.
Function #5 The Arbitrator Function remains dormant in case there are future issues between the landlord and tenant.
3 thoughts on “Token Steps”
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[…] The Real Estate industry is 99% contractual documents and 1% physical. The Physical aspect is the Construction industry. Realty is actually about the “rights” of ownership and to a lesser degree, rights of agency.. Because 80% of real estate transactions are essentially an exchange of documents like credit reports, applications, deeds, and rental agreements distributed apps convert these to incorruptible smart contracts via new technology. The market for electronic documents coexists easily with traditional paper-based methods. It is simply another arrow in your quiver. With smart contracts there is a reduced need for third party intervention in transactions; This means thousands of dollars in transaction savings. Cross-border transactions are a cakewalk. Transactions are faster by an order of magnitude. Transactions are more transparent and literally immune to fraud. And, so much more. […]
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