May 8, 2018
The vision and purpose of Urbit Data is to improve and reinvent the Real Estate Market. How? Implementing Big Data processes, with a real usability Cryptocurrency and integrating the Blockchain Technology, Urbit Data is going to create a new worldwide estate of the art.
Worldwide real estate assets comprise nearly 60% of the value of all global assets, including equities, bonds and gold. The fact that the value of global real estate exceeds by almost one-third the total value of all globally traded equities and securitized debt instruments highlights the important role it plays in economies worldwide. At the same time, this market lacks both transparency and efficiency, especially compared to publicly traded equities and debt securities.
Evaluation of a real estate asset requires in-depth market information which only market players have. This creates asymmetries in the market and leads to inefficiencies.
Urbit Data’s mission is to create transparency and efficiency in the real estate market. As of today, Urbit Data has already a product which offers ad-hoc evaluation of any real estate object in the Spanish market. We developed a powerful data collection engine which gathers information from various publicly available data sources and combines them intelligently in order to be able to calculate the value of any real estate property in Spain.
Using an open approach based on open source and blockchain technology, we want to create an ecosystem where comprehensive information on all real estate properties can be digitally stored, evaluated and transferred. The whole real estate market will greatly benefit from this due to the improvement in transparency and efficiency. Urbit Data is backed by a strong experienced team of experts in the real estate market and in blockchain technology. It is our vision and will to work towards a transparent and efficient real estate market, accessible by everyone, everywhere and at any
The main Urbit Data solutions can be summarized as follows:
* Improve the access to international properties around the globe, all in the same platform.
* Implementing the Urbit Data smart contract, all property purchases, rentals and sales will be easily managed in a more transparent and efficient way. * The existing Urbit Data price valuation tool offers a more real and equitable price through comparison of several real estate data sources.
* Increase in speed, efficiency and reliability using the Urbit Data software, avoiding the unnecessary generation of documentation.
* Reduction of transaction time, making them cheaper and safer. The Urbit Data users will be able to download the Big Data software of the company that feeds the Urbit Data database for the properties listed. As a reward, the users will receive Urbit Data Coins.
The Urbit Data platform concept is an ensemble of software agents oriented to provide real estate related functionality based on a gateway service, relying heavily on a blockchain network and on a decentralized data warehouse. Blockchain technology makes this possible.
Urbit Data is a global solution applicable to people in any part of the world that engages in the global real estate business, and thus take advantage of the accessibility, reliability and transparency that blockchain technology allows.
The technology presented in Urbit Data is not intended to completely replace the current processes of the real estate market. Instead, it aims to complement by making them more effective, accessible, transparent and reliable.
Urbit Data's platform will be available for individuals and companies who want to carry out transactions without intermediaries in the real estate sector. Additional specific functionality will be implemented for the needs of each sector of the market.
The Urbit Data Coin (URB Coin) will be implemented as an ERC-20 token on the Ethereum network. This will allow for the maximum integration with investors and markets through the token sale and into final operation of the Urbit Data network, using state channels to reduce transaction costs.
In the event that scaling solutions are not available on the Ethereum network in a timely manner, the Urbit Data Coin could be deployed on its own independent blockchain network with its own wallets and other associated infrastructure. The ERC20 tokens (Urbit Data Tokens) deployed for the token sale of the project would be seamlessly converted to a native coin on that network.
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