Let’s say a new technology is being built which could allow multiple parties to transact a real estate transaction. The parties get together and complete the scheduling, special circumstances and funding information. How are those parties going to know they can trust each other? They ‘d have to check their third-party arrangement-banks, legal departments, government approval, etc. This takes them back to square one in terms of cost-saving use of the technology.Feel free to visit their website at for more details.
The third parties are now invited to enter the real estate deal in the next stage to provide their feedback while the transaction is being produced in real time. This significantly reduces the middleman function. If the transaction is this straightforward, in some situations even the middleman can be excluded. The attorneys are there to stop miscommunication and charges. These risks can be minimized considerably if the conditions are disclosed up front. If the funding deals are negotiated upfront, the contract will be paid out in advance and the parties will respect their payments. This takes us to the last exemplar point. If the terms of the contract and contracts are finalized, how will the buyer be paid? The unit of measure will be a currency issued by a central bank which means once again dealing with the banks. If this were to happen, the banks would not allow these transactions to be done without some kind of due diligence on their end and that would mean costs and delays. Is the technology useful until this stage in generating efficiency? Possibly not.
The solution is it? Creating a digital currency that is not only as straightforward as the contract itself, but is also part of the terms of the agreement. If this currency is compatible with central bank-issued currencies, the only remaining requirement is to convert the digital currency into a well-known currency such as the Canadian dollar or the U.S. dollar that can be done at any time.
The technology to which the illustration alludes is blockchain technology. Trade is the economy s backbone. A main reason why there’s money is for trading purposes.