Bitcoin Cash Price Analysis: BCH/USD Extending Losses Towards $500

Key Points

  • Bitcoin cash price failed to recover above $550 and declined recently against the US Dollar.
  • There is a crucial bearish trend line formed with resistance at $535 on the hourly chart of the BCH/USD pair (data feed from Kraken).
  • The pair is likely to remain in a bearish zone and it could slide towards the $500 support.

Bitcoin cash price is under pressure below $550 against the US Dollar. BCH/USD could accelerate losses towards the $500 and $480 support levels.

Bitcoin Cash Price Analysis

There was a slow and steady decline initiated from well above $600 in bitcoin cash price against the US Dollar. The BCH/USD pair broke the $580 and $550 support levels to move into a bearish zone. The decline was such that there was a close below the $550 support and the 100 hourly simple moving average. The price recently traded below the $521 low and formed a new low at $510.

Later, there was a minor upside correction above $520. The price traded above the 23.6% Fib retracement level of the recent decline from the $561 high to $510 low. However, the price struggled to move above the $525-530 resistance. There is also a crucial bearish trend line formed with resistance at $535 on the hourly chart of the BCH/USD pair. Above the trend line, the 50% Fib retracement level of the recent decline from the $561 high to $510 low is a major hurdle near the $536 level. Therefore, a proper close above the $535 and $540 levels is required for a decent recovery.

Bitcoin Cash Price Analysis BCH Chart

Looking at the chart, BCH price is clearly at a risk of more slides towards the $500 support as long as it is below $540 and $550.

Looking at the technical indicators:

Hourly MACD – The MACD for BCH/USD is mostly placed in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is currently well below the 50 level with a bearish angle.

Major Support Level – $500

Major Resistance Level – $540

South Korean Crypto Exchange Pure Bit Exit Scams After Raising 13,000 ETH

/latest/2018/11/south-korean-crypto-exchange-pure-bit-exit-scams-after-raising-13000-eth/

South Korean Crypto Exchange Pure Bit Exit Scams After Raising 13,000 ETH

south-korean-crypto-exchange-pure-bit-exit-scams-after-raising-13000-eth

South Korea cryptocurrency exchange Pure Bit has recently pulled an exit scam after raising a total of 13,000 ETH through an initial coin offering (ICO). At press time, the amount raised is worth $2.7 million.

The team behind Pure Bit reportedly remained anonymous as its ICO was based in South Korea, which banned the fundraising practice months ago. This gives projects the perfect excuse to remain anonymous, but makes it riskier for investors.

The team behind the scam seemingly shut down its website before moving the 13,000 ETH from its wallets, and kicked every member off of its Kakao group chat before posting “sorry” and “thanks” to its communication channels.

On Reddit, one user pointed out that things look bad for investors, who will likely have to try and follow the funds on the blockchain to try to get something back.

They have gotten rid of every evidence. Website hosted by fake name / out of Korea host / messenger / contacts were all fake too. Now their only hope is to keep on track with that ether and hope for the best.

The team behind Pure Bit has already deleted its social media accounts as well. It promised investors a Pure Coin, which would serve as the native token of its cryptocurrency exchange, and would pay holders regular dividends.

Those who used the coins while trading were reportedly going to be rewarded as well. To get more investors on board, Pure Bit was running an affiliate campaign that rewarded users extra tokens for bringing in new investors. The minimum investment amount was of 5 ETH.

The project’s ICO was set to end on November 30, but the team seemingly decided not to wait to pull the scam. As CryptoGlobe covered, exit scams have been regular this year, so much so that a report suggested they’ve taken over $100 million from investors.

新一代乌托邦:去中心化

布洛克科技按:一直被世人称道的去中心化实际上只存在于逻辑层,因此完全的去中心化只是留存于人们脑海的一个美好幻想。严格意义上来说,区块链的去中心化并不是一个完全创新的概念。

 

1929年10月24日,历史上规模最大、历时最长、影响最深刻的周期性世界经济危机爆发,给美国乃至全世界经济带来极大创伤。货币主义经济学认为爆发的原因是当市场上货币发行量超过流通中所需要的货币量,就会出现纸币贬值,导致通货膨胀。

 

当时著名的经济学家弗里德里希·冯·哈耶克认为政府发行货币的独占性权力是最危险,最应当剥夺的,并在其最后一本经济学专著《货币的非国家化》中提出了一个革命性建议:废除中央银行制度,打破政府对于货币的长期垄断,允许私人发行货币自由竞争,这个竞争过程中将会发现最好的货币。

 

这种思想与如今的区块链去中心化不谋而合,但是历经撒切尔夫人改革和里根主义浪潮,“货币的非国家化”仍未能实现,“货币自行发放”依旧只是天方夜谭。直到区块链技术的出现,人类在此方面才有了实质性的进展,“去中心化”也由此成为区块链的代表性特性被世人津津乐道。

 

提到去中心化,大家可能会用这样的对比来试图表示去中心化的含义。


(a)中心化 (b)去中心化 (c)分布式账本

 

但是这对于理解去中心化并没有本质上的帮助。V神在“The Meaning of Decentralization ”中试图给去中心化一个标准定义。

 

他认为在软件世界,所谓的“去中心化”实际上可以分成架构层,政治层以及逻辑层三个维度进行判断。

 

比如从这三个维度判断传统公司是否是中心化。

每个公司都有一个CEO——政治层中心化

每个公司都有一个总部——架构层中心化

每个公司都是一个整体——逻辑层中心化

 

区块链是一个分布式账本,即没有任何人或机构以及服务器能够控制区块链,因为区块链在政治层和架构层都是去中心化的。但是在逻辑层上,区块链是中心化的,因为每个区块链网络都有一个共识,此外系统的行为更像一个单独的计算机。

 

人们通常会把公共账本作为区块链的一个优点,但是公共账本又是区块链世界的中央数据库,与区块链的去中心化相矛盾。借助三把尺子所提供的标准来看,中央数据库所谓的中心化,其实是逻辑层的中心化。

 

关于去中心化为何如此重要,V神认为其有容错性,抗攻击性以及抗勾结性三个优点。


(去中心化重要的三个原因)

 

去中心化系统不太可能因为某一个局部意外故障而停止工作,因为它依赖于许多独立工作的组件,容错能力更强。


容错性作为分散风险的一种方式,其核心在于可以承受出现错误的能力,降低系统崩溃的概率。这种容错能力在现实生活中已经得到广泛应用,但是目前仍无法解决共模故障带来的问题。

 

抗攻击性源于现实世界攻击与防御的不对称性,攻击破坏去中心化系统的成本相比中心化系统更高。从经济效益上来说,相当于抢劫一个房子和一片村庄的差别。


在一个丰富的经济模型中,尤其是其中存在胁迫的可能性,去中心化就变得尤为重要。抗攻击性有助于我们理解区块链机制设计的三个关键点:POS机制更安全;区块链开发团队分布越广泛越有利;设计共识协议时需要同时考虑经济模型和容错模型。

 

抗勾结性假设区块链网络是由许多独立决策节点组成的,保证安全最关键的一点是防止系统变成集权垄断体。因此相对松散的区块链网络就越难相互勾结在一起,从而也就更安全。


区块链协议里,共识安全背后的数学原理和经济学原理通常依赖于抗勾结性,即尽可能避免节点之间相互产生协调。

 

自区块链诞生以来,去中心化一直被众人追捧,认为其能重塑现在的世界格局,但是历史不会轻易被改写,因此世界由中心化完全转变为去中心化仍然还是道阻且长。

XLM/USD, ADA/USD Gains Setting Pace for Inevitable Altcoin Price Recovery

Even with ball park +75 percent losses from 2017 highs, the altcoin market is ripe for a reversal as XLM/USD and ADA/USD reject lower lows. Meanwhile, EOS/USD and LTC/USD are near important support levels and today could determine short term price trajectory.

Let’s have a look at these charts:

EOS/USD Price Analysis

EOS/USD Price Analysis

Back to back losses mean none of our trade conditions are live. However, a glance at the chart indicate that sellers are in charge and could drive prices below $5 triggering aggressive sellers into action aiming at $4. Anyhow, from previous EOS/USD trade plans we shall maintain a neutral stand until prices either surge above $7 or below $5 or $4—for conservative traders.

Related: EOS Centralization Reportedly in Action: Arbitrators Able to Reverse Transactions

In any case first targets would be $9 should prices rally or $1.5 if prices drop below our main support line. But in the meantime, we suggest taking a wait-and-see approach as prices accumulate within a $3 range after dropping +80 percent from 2017 highs, many are rooting for bulls although a contrarian move could wipe out gains as EOS/USD meltdown continue.

LTC/USD Price Analysis

LTC/USD Price Analysis

Even with stellar fundamentals and fitting candlestick formation that points to sparkling LTC/USD stars, bulls are struggling against relentless sellers. After reversing gains and bouncing off from the main resistance trend line on Nov 7, we could end up seeing a whole candlestick print below $50.

When that happens, then we shall trade in line with previous LTC/USD trade plans selling on every pull back with stops at the highs of the breakout bar. First targets would be at $30. If not and bulls enter the fray rejecting lower lows then we could recommend patience until after we see solid gains above $60.

XLM/USD Price Analysis

A bright spot in the crypto verse has to be morale boosting developments at Stellar. Months after announcement of interstellar—a DEX that runs on the Stellar blockchain, they did announce the pre-release implementation of bullet proofs which is five times faster than Monero’s and executed entirely on Rust via Ristretto group. Rust is a safe but robust programming language with strong privacy features preventing accidental sharing of mutable data while eliminating memory-safety bugs.

Also Read: EOS Price Analysis: Charlie Lee Positive on LN as Monero Prepares for a Hard Fork

XLM/USD Price Analysis

No doubt, Stellar Lumens is this week’s top performer adding 16 percent in the last week and seven in the last day solidifying our last XLM/USD trade plans. Everything else constant, the market is reacting to technical developments at Stellar. Therefore, we suggest buying XLM/USD at spot with stops at 25 cents aware that breaks above 30 cents could ignite a wave of buy pressure targeting 50 cents.

TRX/USD Price Analysis

Aside from increasing on-chain transactions, investors in Turkey can now buy TRX/TRY at Koineks.

TRX/USD Price Analysis

If anything, TRX/USD is at the precipice as price action retests the three month support trend line of the bear flag. Though the path of least resistance appears to be southwards, short term trend will depend on how today close now that there appears to be demand in lower time frames.

If today end up higher we shall have a three-bar reversal pattern and aggressive traders should buy on dips with stops at 2.2 cents and first targets at 3 cents. On the reverse side high-volume losses could trigger a meltdown below Oct lows at 2 cents and with first bear targets at 1.5 cents.

ADA/USD Price Analysis

ADA/USD Price Analysis

The failure of sellers to add to their losses reversing Nov 4 gains mean our bull breakout pattern is now valid. In fact, ADA/USD is up one percent in the last day and up six percent on a weekly basis. A look at the daily chart confirms our last ADA/USD trade plan.

In a classic breakout pattern, we suggest buying on dips or at spot with stops at $7.3 cents with first targets at 9.5 cents. Once there are convincing gains above Oct highs—a mid-range resistance, then conservative traders can begin ramping up with modest targets at 12 cents.

All Charts Courtesy of Trading View

Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.

Bitcoin Price Analysis: BTC/USD Increasing Demand ahead of BCH Hard Fork

Aside from regulatory involvement, uncertainty in other blockchains often draws demand for Bitcoin as a store of value. It did happen before and three days before Bitcoin Cash software upgrade, capital could flow into Bitcoin lifting prices above $6,600 igniting short term bulls aiming for $7,200.

Latest Bitcoin News

Still, Bitcoin Cash is one of the most fluid and valuable coin in the space. Though hash rates and decentralization levels pale in comparison with those of Bitcoin, it is still important to track its development. On Nov 15, a software upgrade could turn chaotic as the chain fork once more—to Bitcoin Cash SV or to Bitcoin Cash ABC. This is free cash for BCH owners and more cash for Bitcoin owners who happen to own Bitcoin Cash following last year’s fork. But on focus are expectations of higher high ahead of the fork as funds flow from BCH to Bitcoin and stable coins. In that case we expect BTC/USD to rise as it becomes a temporary store of value and a refuge against volatility.

Also Read: Early Bitcoin Pioneer Speculates Who Nakamoto Is, Gives $100 Million in Asset Away

But even if this is temporarily, it could be the sparks necessary for higher highs now that the political landscape is changing. As results began streaming in following US Mid-term elections, three pro-Crypto in Gavin Newsom, Jared Polis and Boulder would be sworn in. All are crypto friendly and progressive with Gavin Newsom representing California. Their involvement in the national stage is important and they could end push for supportive legislation as the SEC review nine different Bitcoin ETF proposals.

BTC/USD Weekly Analysis

Weekly Chart

BTC/USD Price Analysis

Despite price declines in lower time frames, BTC/USD is technically bullish. It is still in green territory when we take a top-down approach. Most importantly BTC is trending above the main resistance trend line. Moving on we shall retain a BTC/USD bullish outlook suggesting buying on dips in lower time frames as long as it is trading above $6,300 or week ending Oct 21 lows.

Related: Bitcoin Falls to $6,300 Region as Altcoins Continue to Decline

This is so because at the moment Bitcoin is ranging and oscillating within a tight $300 range with caps at $6,800 on the upside and $6,300 on the downside. High volume moves in either direction point to underlying bullish or bearish momentum. However, considering the depth of this year’s correction, it’s likely that bulls would drive above $7,000 thanks to supportive fundamentals as Bitcoin Cash contentious hard fork.

Daily Chart

BTC/USD Price Analysis

Even if prices are ranging or printing higher, our BTC/USD trade plan anchors on how prices respond to Oct 15 high volume bull bar. Everything else constant the accumulation of prices inside that bar mean our previous forecasts is true and sooner we could see prices expanding above $6,800-$7,000 resistance zone.

But, before we suggest buys it is important for bulls to reverse recent losses and close above $6,600 and the support trend line cancelling the bear breakout of Oct 29. If not and sellers drive prices lower below $6,300 then odds of further losses below $5,800 or 2018 lows would be high. As a result, we suggest taking a neutral stand until any of our trade conditions are live.

All Charts Courtesy of Trading View

Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.

Without a Digital Currency, Sweden Faces the Privatization of Money

News teaser

Without a Digital Currency, Sweden Faces the Privatization of Money


Retail payments in Sweden are now almost entirely cashless. Without a central bank digital currency (CBDC) Sweden’s entire payments market would be reliant on the private financial sector.


Cecilia Skingsley, Deputy Governor of the Central Bank of Sweden, has authored an article as part of the World Economic Forum’s Annual Meeting of the Global Future Councils. The piece describes the financial issues issue faced by Sweden.

A Historical Change

In Sweden today, cash in circulation forms just 1% of the countries GDP. Skingsley writes:

If cash stopped working, it would leave all individuals to rely on the private sector for access to money and payment methods. It would be a historical change without precedence.

In Sweden, retailers don’t have to accept cash at all, and some banks don’t offer cash services. On top of this, citizens are open to new, cashless, technologies quickly adopting payment cards, applications, and even cryptocurrencies.

The payment application Swish has been downloaded by half the population and is even used to pay pocket money and at street markets. Settlements are enabled by the central bank’s real-time gross settlement system. Skingsley says:

Swedes could therefore find themselves in a situation where cash is no longer generally accepted as a means of payment.

If the central bank takes no action, says Skingsley, it would need to accept Swedes will not be accessing central bank controlled money changing the “scope for the public sector.”

The payment market would have to be regulated and supervised in new ways to meet fulfil the objective to have a safe, efficient and inclusive payment market.

The e-krona

Or, Sweden’s central bank could pursue its concept “e-krona” central bank digital currency (CBDC), an idea that was first revealed in 2016. Skingsley revealed a few details of the basic concept:

It would be digital, and have a 1-to-1 conversion with an ordinary krona held in an account at the Riksbank or stored locally, for example on a card or in a mobile phone app.

The Central Bank of Sweden (Sveriges Riksbank), would provide the infrastructure for e-krona transactions and payment service providers. Skingsley speculates on whether the currency would earn interest or not, but in her article, avoids comment on the use of blockchain technology.

In the bank’s last formal report on the e-krona, issued on October 26, 2018, it confirms it is beginning to design a technical solution to “test which solutions are practicable and possible to realise.”

The report confirms of blockchain, or distributed ledger technology (DLT):

Our opinion is that it is not appropriate to develop an e‐krona based on one of the current versions of DLT.

However, due to the pace of technological improvement for blockchain and DLT, the e-krona project “cannot therefore rule out a DLT solution becoming relevant in the longer term.” The report also states that whichever technology it pursues it must be “able to interact with DLT.”

Sweden is not alone in considering a cashless future. The Bank of Korea, in the world’s third-largest cryptocurrency market, is also considering the potential of a CBDC and Spain has recently announced that it is exploring the concept.

How long do you think it will take for a credible CBDC to emerge and will blockchain or DLT be used?


Images courtesy of Shutterstock.

Iran’s Rial-Supported National Crypto to Go to Commercial Banks as Sanctions Grow

/latest/2018/11/iran-national-crypto-will-go-to-commercial-banks-as-sanctions-grow/

Iran’s Rial-Supported National Crypto to Go to Commercial Banks as Sanctions Grow

Iran is moving ahead with the implementation and testing of a national cryptocurrency, after the Trump administration last week re-imposed sanctions on the country, that had been suspended under the so-called Iran Deal. Iranian commercial banks will have first access to the, in effect, rial-backed stablecoin as it completes its “pilot stage,” according to the Ibena Persian news outlet.

 

Little information is available on the mechanics or specifications of the developing currency, which has reportedly been developed for the Iranian central bank by Informatics Services Corporation (ISC). We do know that minting of coins will be done exclusively by the central bank and backed one-to-one with the national currency, according to a spokesperson for the developer. This system presumably precludes the possibility of either proof-of-work or proof-of-stake functionality.

 

According to Ibena, ISC spokesperson Seyyed Abotaleb Najafi said that the tokens will be used by commercial banks as “payment instrument[s] in transactions and banking settlement.”

 

The prospect of a government-backed Iranian cryptocurrency has been discussed for several months now, in both the crypto-press and traditional press, backgrounded by the threat of crippling sanctions. It appears that the increasing pressure of sanctions has provoked Iran into realizing these experimental measures, as it has done to other countries excluded from the global financial system by mostly U.S.-driven sanctions.

 

One of Iran’s primary concerns is the unwinding of its oil exports, which have already taken a hit after Trump announced his intention to renew sanctions earlier this year.

 

Growing EU-US rift

The promise of uncensorable cryptocurrencies came especially into focus last week, as the Belgium-based SWIFT financial messaging service announced exclusion of service to some Iranian banks, as a result of direct U.S. threats to sanction SWIFT itself if it does not comply.

 

The SWIFT system is a vital circulatory system for the global financial system, which reportedly links over 11,000 global financial entities in more than 200 countries – thus, being excluded from it can mean ruinous exclusion from vital global markets.

 

SWIFT, ultimately a private company, has found itself at the center of a major U.S.-European Union (E.U.) political rift, as several European nations are staunchly opposed to renewed sanctions against Iran, which threaten to scuttle the Obama-era nuclear deal. The E.U. has likewise threatened punitive action against SWIFT for caving to U.S. pressure on the matter.

 

European concerns have in fact been so grave that they have committed to developing a “special vehicle” to keep open financial channels with Iran and keep business flowing, in order to reduce both the economic and political impacts of U.S.-backed sanctions.

 

This special vehicle is still in negotiation, and was not ready by the time the renewed sanctions were announced last week, according to the Financial Times of London.

EOS Gets Its First Stablecoin: CarbonUSD (CUSD)

On 9 November 2018, New York-based blockchain startup Carbon-12 Labs (better known as “Carbon”), which develops a stablecoin called CarbonUSD (CUSD), announced that CUSD was available on the EOS platform. In this article, we take a closer look at CarbonUSD.

Carbon, which was founded by Samuel Trautwein (CEO), Connor Linn, Gavin Mai (CPO), and Miles Albert (CSO), originally launched CarbonUSD on the Ethereum platform on 12 September 2018. CarbonUSD is a price-stable cryptocurrency that is fully-collateralized 1:1 by U.S. dollars held in FDIC-insured accounts.

However, the long-term plan, according to Sam Trautwein, the company’s CEO, is to transition a “fiat-backed algorithmic hybrid approach” once “CarbonUSD reaches sufficient scale as a fully fiat-backed token.” Here is how he explains it:

“While redeemable, fiat-backed tokens are generally trusted on day 0, they are intrinsically unscalable. Structurally these tokens are multi party bearer receipts meaning that their soundness depends not on a single fail point, but rather usually four to five. If the auditor, the bank, the trust company, the smart contract auditor, or the software provider fails (in any sense of the word), the entire structure comes tumbling down. As the stablecoin scales it undergoes significant strain. They draw increased regulatory scrutiny meaning that small things that were once overlooked now will draw the ire of governing bodies. In many ways Tether outscaled its compliance. They lost their ability to withdraw and deposit through Wells Fargo overnight. It’s difficult to build a new paradigm within the old paradigm.”

“Combining the two presents the best route forward. We offer the optimal consumer product today and tomorrow. The transition will be gradual and transparent as we will leave the infrastructure in place for users to keep using fiat-backed solutions if they so desire.”

However, on November 9th, Carbon announced that CarbonUSD was now also available on the EOS platform. In a blog post published on November 10th, Trautwein explained that “Carbon’s interoperability solution enables CarbonUSD users to transfer their tokens onto the EOS blockchain, where users can transfer CarbonUSD with even lower fees and faster settlement than on Ethereum.” He added:

““We are honored and excited to be the first stablecoin on EOS and to play such a crucial role in such a burgeoning ecosystem. Stablecoins are critical infrastructure for value and we think providing this to EOS further enhances the ecosystem.”

Trautwein went on to explain how deposits/withdrawals work:

“To create new CarbonUSD tokens, users can make fiat deposits with the company’s partner bank, Nevada-based Prime Trust. Frequent third-party attestations by leading auditor Cohen & Co. verify publicly that each token is backed 1-to-1 by escrowed funds in a trust account.”

Sam Kazemian, Co-Founder and President of Everipedia (an EOS DApp that calls itself “the world’s largest encyclopedia on the blockchain”), stated:

“Stablecoins, as an asset class, are the next big thing in crypto and will lead to a new bull market in the next 6–18 months. Carbon’s unique hybrid approach for gaining stablecoin adoption is the most promising I know of. There’s no other project like it”.

Featured Image Courtesy of Carbon-12 Labs

Blockchain Set to Change the Face of Commercial Real Estate As We Know It

The real estate industry has seen significant growth since the recession. With market prices predicted to increase along with millennial demand in 2019, the industry is as welcoming as ever. Although the market is improving, it is still plagued by issues that make the investment process less convenient than it should be.

Major drawbacks of the real estate industry

Real estate investment has three major drawbacks: the presence of intermediaries, the lack of affordable funding options, and fraud.  

Agents take up to six percent of the total payment made on a real estate asset. This means that intermediary fees would account for over $23,000 for a house that costs $400,000. Unfortunately, up to 80 percent of home buyers still use an intermediary and continue to pay these fees according to a report by the National Association of Realtors.

Real estate is also expensive and the prices continue to climb, limiting access for a greater part of the population. According to research by CNBC, an investment of $1 million will most likely buy about 270 square feet of prime property in New York. However, only about 10 percent of US residents can afford such a price tag.

Finally, the commercial real estate industry is rife with fraud, not just in the United States, but globally as well. According to a statement by the FBI, the internet crime complaint center saw a 480 percent increase in real estate fraud complaints filed in 2016. These crimes, including title fraud and online sale scams are aided by the rarity of trusted platforms where real estate documents can be verified.

How exactly can blockchain fix these issues?

A blockchain is an immutable ledger in which transaction data can be recorded. Its benefits include transparency, traceability, accessibility, and enhanced security. When implemented in the real estate industry, these properties can solve its major issues.

Blockchain real estate platforms eliminate the need for intermediaries like lawyers and agents by providing a means of property verification and payment to buyers. Paying for property using cryptocurrencies can also help buyers bypass bank fees. It cuts the fees associated with escrow by offering smart contracts that can be customized according to a users’ needs.

The tokenized nature of cryptocurrencies like Bitcoin and Ethereum makes crowd ownership of real estate possible. Those who cannot afford to purchase the whole property can simply buy a part of it, like buying shares in a company. Such investors would receive transferrable tokens that represent their shares and can be verified easily on a blockchain. This makes real estate investment accessible to more people.

Blockchain can also prevent fraud in the industry by providing a way to easily authenticate property documents. As these properties are transferred, their records are added to the blockchain and a comprehensive history is formed. In the event of a sale, buyers can easily check if property is fraudulent.

Bringing blockchain innovation to real estate

Several companies are working to bring these solutions to the commercial real estate industry. One such company is i-House.com, which implemented a series of ATO (Asset Tokenization Offering) projects in less than a one- year span. These projects allow users to crowdfund real estate development projects using IHT, the company’s cryptocurrency. So far, their reach has extended to the U.S., Japan, Thailand, and the Philippines.

The i-House ATO model provides real estate accessibility and a verifiable platform for related transactions. By Implementing such a concept in the industry, the i-House ATO platform is positioned to disrupt it positively. i-House.com Chairman and Founder, Ricky Ng., said:

“We aim to create a shared economy asset management ecosystem that spans across the globe, i-House ATO provides real estate owners, developers, and end users the means to own and share assets easily”

Cryptocurrency that empowers real estate investors worldwide

IHT was recently listed on the Bittrex exchange and South Korea’s largest exchange, UPbit. IHT is currently listed on nine other exchanges including Cashierest, KuCoin, Gate.io, Coinw, LBank, HitBTC, CoinBene, CoinTiger and Allbit. The company stated that it hopes to get listed on more top global exchanges in the future.

The future of blockchain real estate

Blockchain presents an opportunity to change how real estate transactions are handled. Everything from land registry to provenance and payment systems currently have a lot of room for improvement. With better systems in place, there will be more incentive to invest in the industry and further bolster economic growth.

As companies like i-House.com make these changes to the industry, the real question lies in how quickly others will follow suit. Will this be one of those things that don’t become mainstream until there is a crisis in the industry? We may have to sit back and watch.

Author:Hazel Agoni

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.