Connect with us

Real Estate Technology

Austin startup to offer blockchain tech to mortgage industry #VERYCOOL

(TECHNOLOGY) An Austin startup is heading the initiative to move mortgage industry to move towards blockchain technology.

Published

on

blockchain

The 1s and 0s of life

For a guy who has on two occasions written in favor of the robot apocalypse, I can be pretty twitchy about security in tech. I surf behind a VPN (because the NSA is super interested in my herbal tea blends) encrypt important files for storage, all that good paranoid stuff.

bar
But of course, the real nightmare when it comes to tech security isn’t on the consumer end. We’re not worried about robots swiping unused RAM or reading our browser history (well, I’m not; I don’t know what you’ve being doing lately, you deviant) nearly so much as the new reality that everything from money to mortgage papers is digital, and 1s and 0s don’t much care who’s futzing with them.

Big bad middleman

A fine state of play on the issue can be found here, but the TL;DR is that to date a money-based economy has required an intermediary between buyer and seller, someone whose only job is to manage the money itself. That middleman’s big job is verifying the value of what’s being exchanged, resolving the “double spending problem” of spending the same unit of value more than once.

Fun fact: that’s literally why there are coins.

Originally the heads on the “heads” side weren’t just rulers showing off, they were stamps from the royal treasury that confirmed the proper amount of precious metal was in that particular lump. The authenticity problem is literally as old as money, and now we’ve gone and thrown away the stamp.
Thanks to the authenticity problem, historically it’s been impossible to perform a straight peer-to-peer exchange of value with money: note that yours has deceased politicians on it. In theory, digital exchange makes that unnecessary. Cryptographic technology can guarantee authenticity better than a green picture of a dead guy, and exchange can occur between people directly.

Bitcoin’s backend

That’s bitcoin, for example. But bitcoin is just the application of the idea. The idea behind bitcoin and a bunch of other clever digital things is blockchain.

Blockchains are “distributed ledgers.” All transactions made by members in a set time period are put in an encrypted “block,” then the blocks are distributed to the network and the first member to validate the encrypted transaction gets a bonus. As soon as that’s done, the block is timestamped, locked, and added to the chain. Every member’s ledger is identical because the records are generated automatically, and instead of going through a bank or credit card company, users have direct access to all their information at any time.

Best of all, with current technology blockchain is effectively hack-proof.

Once a block is stamped it never changes again, permanently linked to every other block, every block is safe behind the kind of crypto that – no hyperbole – a hacking tool can’t finish the necessary math because the Sun will blow up first, and you have to hack every block to get to any of them. It’s a big deal.

And it’s come home in a big way.

Killin’ it

Austin startup Factom just blew away their latest funding round. Factom is about “blockchain as a service,” implementing blockchain for transaction security and information storage in vital industries.
Their new hotness is Harmony, a service aimed at the mortgage industry that will integrate blockchain into existing tech to guarantee security for sensitive housing data. World-class VCs like Tim Draper and corporate stalwarts like Overstock and Stewart Title have already bought in.

Game changer

Nobody was ever sure if bitcoin was a monster, a punchline or the Big New Thing, and it suffered for it. But the blockchain tech created for it is legitimately important, a straight-up new way of doing business, and courtesy of Factom, it sounds like Austin will kick off the revolution.

#Blockchain

Matt Salter is a writer and former fundraising and communications officer for nonprofit organizations, including Volunteers of America and PICO National Network. He’s excited to put his knowledge of fundraising, marketing, and all things digital to work for your reading enjoyment. When not writing about himself in the third person, Matt enjoys horror movies and tabletop gaming, and can usually be found somewhere in the DFW Metroplex with WiFi and a good all-day breakfast.

Real Estate Technology

National accelerator for brands seeking to tap into real estate

(REAL ESTATE TECH) Whether your company is real estate tech or looking to spin into real estate or get a gajillion Realtors on board, this program is for you.

Published

on

nar reach accelerator

If you own a technology startup or product that would work wonders for Realtors and the real estate market, applying for the 2018 NAR REach program could be your ticket to the fast track of success.

Second Century Ventures, the investment arm of the National Association of Realtors (NAR), is now accepting applications for its 2018 NAR REach accelerator program. This program is designed to accelerate the growth of early-to-mid-stage companies by giving them access to NAR’s industry experts, educational resources and relationship building blocks that can help companies achieve success in the real estate market and beyond.

Think of it as an intensive, real estate market crash-course with countless opportunities to grow your business and investor network. The more you know, the more you can grow.

Companies selected for the NAR REach program will be connected with more than 350 real estate and technology leaders from major brokerages, brands, companies, and venture capitalists. You’ll be able to really connect with these individuals, too. On average, REach participants will meet with more than 50 advisors for one-on-one mentor sessions over the course of the program.

REach companies will learn how to navigate the massive real estate industry all while being supported by the NAR, which is a $4.5 billion brand. And, if your company is selected for this program, you’ll have access to the NAR’s Insight Panel, a large network of industry professionals who can give you feedback on different aspects of your business, such as user experience and product pricing. If your company is just starting out, such constructive feedback can be crucial for significant growth.

Sounds pretty sweet, right? There’s evidence the accelerator program works, too.

Overall, REach companies have experienced revenue, customer, and/or user growth rates from 50 percent to more than 5,000 percent. They were also able to form important partnerships with major companies such as Coldwell Banker, Century 21, and Google. Need another example? In April, Guard Llama, a 2015 REach program safety company, received a $100,000 real estate investment from industry tycoon Barbara Corcoran and license to use her image on their product.

For its 2018 REach class, they are seeking seven companies with stable business models, actionable business plans, and the potential to make waves of positive change in the real estate space. Applications will be accepted through January 31, 2018 via the NAR REach website. The companies that make the cut will be announced in February 2018, and the nine-month program will begin at the end of March.

Here’s a bit more about who should apply.

Continue Reading

Real Estate Technology

Amazon Alexa app for real estate could fill your lead pipeline

(REAL ESTATE TECH) A new app has been developed for Amazon Alexa to connect home buyers and real estate professionals, check it out.

Published

on

amazon alexa ai

Voice interaction is truly the wave of the future. Amazon Alexa leads the way. It’s reported that Amazon will be announcing Alexa for Business Platform, which takes voice into the workplace.

Enterprises can use Alexa to manage temperature and lights and to get information, but other skills and apps will be available to help with calendar management, ordering supplies and much, much more. Alexa has the capability to integrate with business to be a voice-activated virtual assistant.

And artificial intelligence via voice interaction with Alexa is now entering the real estate market.

Agent NEO is an Alexa app designed for the real estate industry. This app helps users look for homes to buy, check real estate information and find a real estate agent.

Agents who are registered with the app can easily connect with buyers and sellers and stay in touch with current and past clients through the app. Users can also get information about their home’s value through the app.

How it works:

  • Users ask Alexa to help them find houses to buy. Alexa narrows down the search by locality, budget, size of house and other preferences. Users can even access pre-approval for loans.
  • Alexa matches users to a real estate agent in the area where the user is looking to buy or sell.
  • Alexa sends the information to the agent about the potential client, including their search details. The user gets an email with your contact information, a bio and an intro from you.
  • The app can book showings for users, based on their individual preferences.

Agents can join by going to the Agent NEO website. Although the technology is still fairly new, as more people invest in voice-activated interfaces, it could be a great way to generate leads for your company.

Continue Reading

Real Estate Technology

Silly Chrome extension blocks tweets over 140 characters

(SOCIAL MEDIA) When Twitter began testing out longer tweets, many people lost their minds. A new extension stops the madness, stat!

Published

on

shorten tweets

Back in September, Twitter, known for forcing users to be succinct, made a controversial move when the social media platform decided to double its character limit from 140 to 280.

Twitter is testing out the concept on a handful of seemingly randomly selected accounts. According to product manager Aliza Rosen, Twitter “will be collecting data and gathering feedback,” and may eventually expand the character limit for all users.

Rosen and other execs at Twitter seemed to anticipate a backlash. Said Rosen in a blog post, “We understand since many of you have been Tweeting for years, there may be an emotional attachment to 140 characters – we felt it, too. But we tried this, saw the power of what it will do, and fell in love with the new, still brief, constraint.”

Unfortunately for Twitter, users aren’t feeling the love.

The change has inspired much sarcasm and wrath, and some have even accused Twitter of using the character limit expansion as a distraction from more pressing issues, such as curbing online harassment and hate speech, or combating bot networks. Heather Kelly tweeted, “Women on Twitter excited death threats can now be twice as long.”

While some have used the 280 character limit in positive ways, others have proved just how pointless and annoying an extra-long tweet can be. MGM tweeted a 280 character roar, while Checkers & Rally’s tweeted 280 cheeseburger emojis.

Some developers at Slate Magazine think the much-hated 280 character expansion “is a real mess,” and have decided to be proactive about it.

They’ve created an extension for Chrome that limits your tweets back to the original 140 characters, while also cutting off tweets longer than 140 characters in your feed. The extension is simply called “140.”

They admit that they “whipped it up in one night,” that Twitter may find a workaround for their extension, and that there are some problems with URLs and pasting text.

However, they hope that, at least for now, the extension will create “a much chiller experience” on Twitter. So if you really can’t stand to read more than 140 characters, this may be your best option to “make Twitter great again.”

Continue Reading

Emerging Stories

Get The Real Daily
in your inbox

subscribe and get news and EXCLUSIVE content to your email inbox