Below are some examples of how our blockchain and application can be used. The blockchain application is still under development and in the future we will continue to work on the application to add more functions.
In the MarbCoin application someone can list a home or commercial property for sale. This will then appear in the application and associated website(s) as for sale.
As soon as someone wants to buy an object and wants to know everything about it, they can use our blockchain. With our application it is possible to track exactly who the previous owners of the object were and also the previous sales prices are available. Contractors can add any renovations to the "Property Profile". Additional data may include energy labels, taxes, etc.
With a click on your smartphone you can retrieve all the data of a certain object at once.
As soon as all data is known, you can make an offer for that home or business property via the application. And if both parties agree, a (smart) contract can be drawn up automatically.
The traditional real estate agent can work much faster, and in some cases is no longer needed at all.
A person wants to buy a house or a commercial property and needs a financing/mortgage to do so. With MarbCoin it is possible to create a (smart) contract with all the data of the property and the financing details, all the data ends up in the blockchain. On the basis of this data, third parties, who may be private individuals or companies, may offer financing for the object.
Because all data is public and everything can be easily checked by everyone, the costs are much lower than currently is the case with traditional banks. In addition, our own currency, the MarbCoin, can be used to finance objects and repay the outstanding debt.
Our application makes the management of an existing property simpler and clearer. The rental data such as which tenants are there, rents and whether a property is empty or not will be directly visible in the blockchain. This data is also important when selling the object.
Maintenance contracts can be added and complied to with smart contracts. In case of a sale of the propery, all this data can be used by the next owner.
This application is also suitable for hotels where the management and rental of rooms can be easily tracked. On top of this a separate booking module can be made.
Investing in real estate becomes a lot more transparent because all the data of the property and the investment are publicly available in the blockchain. This shows whether something has been rented out, for how long and at what price. Possible maintenance and insurances are also visible.
In our new app, which runs entirely on our new blockchain, it is easy to create smart contracts for the financing and management of real estate properties.
We are currently doing research whether we can have the asking price and rental price determined by computers. Using photos, location and existing data from the blockchain, we can use "Machine Learning" to determine a realistic price.