One company prepares for a seismic shift to an entirely blockchain-based financial system for home transactions. Teresa Grobecker and Sheila Fejeran made their case at Inman Connect.
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For years the impact of the blockchain on real estate has been the subject of speculation and confusion throughout much of the industry.
But one company is acting on the assumption that a switch to an entirely blockchain-based financial system for conducting home transactions may be coming sooner than anyone is ready for and is preparing a data infrastructure that could support this type of radical shift in the industry.
Two executives at Real Estate Consortia — CEO Teresa Grobecker and COO Sheila Fejeran — made their case Friday to an audience of real estate professionals at Inman Connect Las Vegas.
Here were some of the big takeaways from their presentation.
They believe the nation’s move to a new digital currency is inevitable.
For months U.S. Federal Reserve has floated the idea of creating a new digital currency.
In a March executive order, President Joe Biden asked the government to look further into the issue, placing “urgency” on research and development for the possible new currency.
The blockchain community has been watching this development with interest. Some see this so-called “Fedcoin” as a potential government-backed threat to existing crypto assets, such as Bitcoin.
Others like Grobecker are preparing for the possibility a new digital currency would have permanent consequences on how the economy does business — including the real estate industry.
And while the prospects for a new digital currency’s approval remain unclear — no…
