While real estate and health have relatively been doing good in the past years, it was clearly evident that an overhaul was needed to make processes more efficient. That came in the form of tech disruption and, according to Financial Post, a wide majority of health and real estate industries are adopting processes disrupted by blockchain platforms and technology. The latest is an old Canadian venture capital firm, Whitecap Venture Partners.
The venture capital company, which had been Canadian investors in the start-up scene from 1993 until now, recognizes the need for a change in processes. It also sees that these two industries are ripe and ready for disruption, as real estate has started to embrace the inclusion of blockchain-based processes to make transactions and deals more efficient.
Whitecap partner Shayn Diamond noted that real estate had been moving at a slow pace, deliberately keeping a mistrust in tech-heavy processes. Stakeholders in the industry have preferred to keep the traditional way of doing business. As a result of this, the real estate industry has moved slower before, but have started showing signs of growth right after blockchain-related processes have been introduced.
This trust in blockchain-based platforms is evident in the trust shown by real estate agents to newly-introduced apps and software. One of these, according to Streetwise Reports, is with innovative platforms like Resaas Services Inc. and similar services like it.
Communication is a vital part of closing deals and creating an understanding between clients. With blockchain technology, it's easy for both parties to discuss deals and come to a mutual agreement. Aside from that, blockchain also affords a virtual recording of transactions. Both parties can come back to documents that record done deals through a mouse click or files-on-demand.
Shayn Diamond continued that tech companies-and their founders-have come and gone. However, over time, these founders and companies have failed to adjust to the changing times and the new challenges that came along with it. With blockchain and tech disruption, health and real estate have been forced to adapt and grow.
Whitecap started to invest in technology by seeking out "white space" businesses. The company has a total of four venture capitals-the first two was fuelled with family money, while the third and the fourth capitals were open to investors and were in turn invested into start-ups. Whitecap has actively sought out start-ups which were invested in the tech industry.
