Blockchain real estate
The company, which was founded in June of 2017, is launching a blockchain-based cryptocurrency on the Ethereum network to drastically reduce the amount of money homeowners pay via commission when they sell their properties.
As of January, 2018, the platform boasts brokers in all 50 states and more than 140 cities, nationwide.
As well as reducing costs, the platform also aims to streamline the whole industry by bringing agents and customers into a new direct economy, fuelled by the Deedcoin token (DEED).
Most real estate agents charge around 5-6% commission. However, Deedcoin claims its patent-pending (App. No. 62/552,038) platform, which is already live at DeedcoinHQ.com, can deliver on as it little as 1% commission.
Customers simply enter in their property information and the system pairs them with their local Deedcoin agent. The platform streamline real estate to run on 1%, allowing future commissions to be set by the free market based on the price of DEED.
What Deedcoin says
“6% of your house does not belong to you, but rather to your future real estate agent. U.S. property owners hold $15 Trillion in private property and stand to lose $900 Billion to future commissions.
“Through blockchain technology, the real estate industry can be decentralized and streamlined. Deedcoin returns up to $750 Billion to homeowners by tokenizing real estate commission and connecting customers and agents directly.”
“Innovation is the cure for the current condition of the real estate industry. If the current condition was healthy then innovation would not exist. The condition of real estate transacting is flawed and the Deedcoin system solves problems for all parties.”