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Real estate industry is still wary about blockchain and cryptocurrencies


Now Skelley is trying to shake up real estate finance again, but this time he’s betting ... the World Wide Web was in the early ’90s,” said Keller Williams Realty broker Javier Perez-Karam, who has been closely following the technology.

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By Konrad Putzier | February 28, 2018 04:40PM Illustration by Daniel Nyari Entrepreneur William Skelley co-founded iFunding, an investment platform that helped pioneer real estate crowdfunding, in 2012

But the company quietly shuttered last year, while several other crowdfunding startups also fizzled. Now Skelley is trying to shake up real estate finance again, but this time he’s betting on something else: blockchain — electronic records that are encrypted and linked across a network of computers.Skelley recently founded the blockchain consultancy William Christopher and is advising New York developer Ruben Azrak on his real estate-based cryptocurrency, Realecoin

The digital currency launched last year, and Azrak plans to use it as a new tool to help fund his deals. “Blockchain right now is what the World Wide Web was in the early ’90s,” said Keller Williams Realty broker Javier Perez-Karam, who has been closely following the technology

He argued that the electronic ledger — which is resistant to tampering and can expedite transactions— will completely shake up the real estate industry.

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