Maintaining a record of real estate transactions on your home can be difficult, even in the digital age. A new company, Blockchain Home Registry is proposing to change that using Web3 technology.
BHR lets homeowners claim a verified NFT of their home, giving them a permanent, secure transferable record of all transactions on the home. The BHR Ecosystem powers integration across the digital highway, pulling data from lending institutions, title companies, utility providers, insurers, and more, to give homeowners more control over their real estate assets.
Most people are familiar with @CARFAXinc vehicle history and how useful it is as a tool.
What if you could have the same complete history for you home, immutable on the #Blockchain?@BlockchainHomeR is a Web3 platform built to store your homes history using the Blockchain. pic.twitter.com/BPxCDi9ABp
— DAO Academy 🌊 (@DAOAcademy) June 19, 2022
Blockchain Home Registry comes to the market from the same people who created Torii Homes, a Boston-based company that leveraged the power of AI with the “personal touch of human-to-human customer service” that the real estate industry is known for.
The next stages of BHR support selling, instantaneous borrowing, and more, as Web3 evolves. BHR has a digital dashboard that makes updating information once the home is claimed. To claim a home, the homeowner must verify ownership, email, and identity through a step-by-step process. Photos of an ID card are required as are photos of the individual making the transaction.
BHR is in its early stages, allowing homeowners to claim their home’s NFT at a special discount.
The future of real estate is blockchain
Blockchain technology is considered immutable, making it secure across the board. It is predicted that this technology could prevent title or mortgage fraud when it becomes more mainstream.
BHR credits itself as being built to scale and putting homeowners at the center of the technology. Web3 technology can transform the real estate industry that is considered archaic in the digital age. BHR is an early innovator that can help homeowners maintain records of their biggest asset.