EEA Real Estate SIG Members Publish Real Estate Use Cases to Unlock the Benefits of Enterprise Ethereum Blockchain Through Standards

NEW YORK. – May 23, 2019 – The Enterprise Ethereum Alliance (EEA) today announced the publication of a detailed set of Enterprise Ethereum blockchain use cases for the real estate industry prepared by the EEA Real Estate Special Interest Group (SIG). The document outlines the areas where EEA standards and Enterprise Ethereum blockchain technology implementations can transform the customer experience, speed up business transactions, and develop more efficient business models across the global real estate sector. The EEA Real Estate SIG Use Case Overview is available as a free download here.

The EEA Real Estate SIG Use Case Overview represents several months of work by the group’s members, which include more than 50 global real estate leaders known for both innovation and accelerating the adoption of new real estate technology and standards. The playbook features the following use cases:

Token Securitization

Land Registries and Cadastrals

Token-Enabled Marketplaces

Standardized Property Data

Tokenization of Real Estate

Sales Process Optimization

Real Estate Management

Property Identification, Listings, and Data

“This use case playbook is a direct result of the group’s mission to help define and educate how real estate leaders can play an active role in defining the blockchain standards of the future, ultimately reshaping the real estate ecosystem,” said EEA Real Estate SIG Chair Bastiaan Don, managing director, blockimmo. “We would like to thank all the members of the EEA Real Estate SIG for their extensive contributions. Our aim is that other global real estate leaders will join in our efforts to further define and expand upon this important work.”

Just like the internet opened up new ways to do business, blockchain promises to transform nearly every aspect of the real estate industry including property funding, development, ownership, and investment management.

“The real estate use case playbook will enable the EEA to define the specification building blocks needed to drive the next generation of Enterprise Ethereum real estate applications that, like the Internet, will work anywhere, and are capable of facilitating smart contracts without intermediaries,” said EEA Special Interest Group Evangelist Ken Fromm.

By outlining how standards-based Enterprise Ethereum applications can help create transparency and trust among users; reduce the risk of fraud; and lower frictions and transaction costs, the use cases document will aid the EEA Technical Specifications Task Force address real estate sector needs in its revision and expansion of the EEA’s Enterprise Ethereum Client Specification.

About the EEA Real Estate Special Interest Group

EEA Real Estate Special Interest Group (SIG)’s mission is to educate the global real estate community of the use cases and benefits of EEA standards and Enterprise Ethereum blockchain technologies while fostering industry cooperation and interaction. By joining the EEA and becoming a member of this industry group, companies can help build blockchain requirements and specifications to power changes in the industry.The SIG examines a broad range of elements including but not limited to tokenization of real estate (i.e. investments, crowdfunding), property identification (i.e. optimization of the cadaster), sales process improvements (i.e. deed of transfer), real estate management (i.e. rent payment with cryptocurrencies, optimize operational processes) and property data (i.e. data available for anyone and transparency of data).

About the EEA

The Enterprise Ethereum Alliance (EEA) is a member-driven standards organization whose charter is to develop open blockchain specifications that drive harmonization and interoperability for businesses and consumers worldwide. Our global community of members is made up of leaders, adopters, innovators, developers, and businesses who collaborate to create an open, decentralized web for the benefit of everyone. The EEA also hosts the blockchain-neutral Token Taxonomy Initiative formed to define and understand tokens. To learn more about the Token Taxonomy Initiative, please reach out to [email protected]. For additional information about joining the EEA, please reach out to [email protected].