Blockchain — the technology behind bitcoin and other cryptocurrencies — is supposed to revolutionize real estate. With blockchain’s distributed, decentralized ledger to record financial transactions, you can facilitate fractional property ownership, make offers online and quickly transfer property ownership.
There’s another area of real estate where blockchain can make inroads: listings. Imbrex founder Stephen King | Credit: Imbrex While many blockchain advocates in real estate point out that Zillow and Trulia upended property search a decade ago, making search and listings the one part of real estate without as much left for technology to disrupt, one new startup is hoping to compete with Zillow through blockchain.
Imbrex, launching Monday to coincide with the upcoming Inman Connect San Francisco conference (July 17-20), is a startup offering back-end blockchain technology for firms and brokerages as well as consumer-facing listings for real estate agents. “We’re building a new data dissemination and storage protocol for the real estate industry,” Imbrex founder Stephen King told Inman.
Imbrex recently changed its name from RexMLS and is launching almost a year after its initial coin offering, which helped raise money for the platform. The startup is using the Ethereum-based tokens it released during that ICO as a system within its platform, rewarding agents who post listings with Imbrex coins, but its main innovations are in real estate data.
Besides allowing agents to post listings on Imbrex, the startup also offers its blockchain real estate data management system. Blockchain’s distributed nature — without as much human capital required to manage data flow — allows it to lower costs. Read more from inman.com…
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