6/1/2018 Overview Welcome Blockchain and It’s Impact Joseph Larkin, ACS, CCIM, MCR, SIOR, SLCR on Real Estate • Over 40‐years of CRE Experience • Awarded the CCIM Instructor of the year award on 3 separate occasions Blockchain Will Change • Adjunct Professor University of Denver the Landscape of Real Estate • A Real Estate Futurist Denver, CO Joe_Larkin@Outlook.com Module 1 Overview: Real Estate Has Become an Asset Class • Bitcoin – what it is and its relationship to Blockchain • Blockchain. Internet. Real Estate 1. Stocks • Western European Real Estate Blockchain 2. Bonds • Potential future changes in real estate 3. Cash 4. Real Estate 1
6/1/2018 What is Bitcoin? How Did the Internet Change the Real Estate Industry? Blockchain Technology The Internet Delivers • The blockchain technology that underpins Information cryptocurrencies such as bitcoin could change the way real property deals are done and Blockchain will recorded ‐ more than any other new technology. • Potentially a BIG change to the real estate Secure Information landscape! Joe Larkin, CCIM, MCR, SIOR SLCR 2
6/1/2018 Blockchain Who will drive the Blockchain in the US? • Speed up transactions Federal Government • Reduce costs State Governments • All transactions have specific requirements to be Regulatorily recorded and open to the public and visible to all Consumer Groups • Tamper proof Private companies • Transparency Blockchain Has Many Benefits Thoughts on Blockchain • A standard analysis • Blockchain is a foundational technology • Recording and transferring of title could take • It has the potential to create new foundations for our hours instead of months. economic and social systems. • The standardization of contracts and agreements • It will take time for blockchain to seep into our could impact lawyers, as well as, real estate economic and social infrastructure. agents • The process of adoption will be gradual and steady as • Smoothing out of the real estate cycle waves of technological and institutional change gain • Information available to all momentum. 3
6/1/2018 Thoughts on Blockchain Opportunities • Blockchain‐led transformation of business and • Standardization of contracts • Smoothing the real estate cycle government is still many years away. • Standard capitalization rate • That’s because blockchain is not a “disruptive” • Not all cap rates are the same. A standardization of capitalization rates will be established. technology, which can attack a traditional • Standardization of contracts for all real estate transactions. business model with a lower‐cost solution and • Universal real estate license – all of the states • Recording and transferring of title faster overtake incumbent firms quickly. • Fractional ownership using Bitcoin What’s Happening Now! “Historically, real estate has been an attractive investment option only accessible to institutional shareholders, but tokenized real estate is set to change that so the Thank financial barrier to entry becomes almost non‐existent,” said Denis Petrovcic, Co‐ Founder and CEO at Blocksquare. “With Blocksquare’s tokenization model, brokerages can sell a property to 100 buyers rather than just one, which enables You! deeper markets and improves liquidity. Blocksquare gives consumers who have money to spend, but don’t want to put it all into the same property the option to hold stake in multiple properties, minimizing the risks associated with real estate ventures and paving the way for a new real estate market powered by blockchain.” http://blocktribune.com 4
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