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RE: US$210 trillion dollar industry on steroids
Good share! One of the main purposes of using blockchain + smart contracts is to remove the middlemen. The property market has too many unnecessary middlemen. Given that the transaction process is relatively standard, they do not really value add much.
The question is how will this project fit into this highly regulated market? At certain point in time, the project team will need to seek government buy-in. Not sure if they are able to secure that.
Yes, the government will definitely find ways to regulate this space. From what I read, the project is starting in developing countries like Philippines, which they already have existing business operating in the area. I think their connections and network should be able to help them secure these deals, hopefully.