Future of Devolve Real Estate Platform
Property Registry on
Implementing efficient, accurate and cost effective standards for property registration on a decentralized open ledger.
The emergence of the digital economy and blockchain technology will increase the availability of information on property registration, protection of property rights and trust in the overall real estate market. As an integral function in the real estate economy, land registration identifies ownership and provides tools for financial mobility affecting the enhancement of communities.
The obligation of securing the title of the property with the legal assignment from the owner, when engaged in purchasing a property, has proven to be problematic with the current inefficient system and increased opportunities for fraud.
Devolve Property Registry offers a myriad of benefits with the potential to reduce property fraud and offers the possibility of faster execution of real estate transactions, with the use of blockchain distributed ledger technology and smart contracts. Market participants can confidently research title records and securely transfer payment and ownership of international property electronically in a procedural manner. In this manner, recording property transactions would produce more effective property management as information is reviewed in real time, resulting in increased transparency, greater efficiencies and cost savings for land registries.
The Devolve Property Registry is a safe and secured platform that creates the possibility to record every step of a real estate transaction on the blockchain, rendering a more reliable, cheaper and efficient governance of property registration.
Designing a historical record of key events in the property life cycle.
The PoE (Proof-of-Estate) blockchain protocol will empower Devolve platform to develop into a comprehensive electronic database of historical activity related to a property. Comprising of deed management, mortgages, insurance, surveys, certificates, warranties and other relevant information that requires preservation, a thorough record of a property’s historical experience will sustain the property’s value.
Our position as a developer permits the accumulation of data expeditiously, as new houses are built. All pertinent information is recorded on the Devolve Platform generating a comprehensive record of data. Owners will be incentivized to record future activity on the Devolve Platform which will potentially increase the property value over similar properties without a historical record. A representative record of data will include:
- Land’s origins, subdivision, plat, survey, location coordinates, etc.
- Building permits and the original builder warranty
- Sales records from the original owner to every future sale
- Any future improvements, permits, warranties, surveys, certificates etc.
- And more
Property valuation based on comparables and market sediments will lessen with the increased support of pertinent historical information to ascertain true market value. Profiting the owner through premium pricing for future buyers assurances, Devolve Platform will provide a profile of a property’s key historical events.
- Knowing the provider and expiration of warranties
- Assuring renovations to the property were completed by licensed professional
- Identifying outstanding claims or liens against the property
- Determining owner violations to the property line
Distributed ledger technology increases the accessibility information, averts fraud and creates efficiencies to benefit buyers and sellers, investors, real estate professionals, governments and municipalities and mortgage and insurance servicing companies.