There is increasing discussion and blockchain startups devoted to the timeshare, vacation ownership, and fractional ownership concepts.
Blockchain technology is poised to accelerate this real estate sector and solve inefficiencies inherent in these markets vis-à-vis the tokenization of property ownership and ownership; that is, the digitizing of global real estate. This creates a truly global and accessible real estate marketplace.
The concept of a “true” sharing economy, which is driven by trust, altruism and community spirit, and not profits, has been relatively unexplored. However, there is now one radical blockchain startup focused on fractional ownership for the masses – Crowdvilla.
Based on the concept of the common good, Crowdvilla’s global communities will pool their resources to acquire properties together for their shared use:
- The platform will operate on a two-token model; the ownership token and the utility token.
- The property portfolio will occupy the casual luxury segment that has broad appeal to internationally mobile businesses and global holiday travelers.
John Dean Markunas is a real estate industry Blockchain Adviser and Front-End Business Development Consultant with a global outlook. He is the Principal Consultant with Power of Chain Consultancy.
John is the Leader of GBA’s Land Titling Working Group, which is dedicated to developing best practices and communication tools for educational outreach to land registry offices on a global basis.