The Enterprise Ethereum Alliance (EEA) has reportedly released details on the use of blockchain, ones that closely tie into real-world real estate market applications. Coin Telegraph cited a report done by most of its own members. Several months' worth of research into 50 different real estate companies went into the report, as well as four cases of use.
The EEA was credited with finding the result that blockchain could potentially shorten the process of transferring copies of property documents, as well as making the process of recording sales and deals faster. It can also create transparency, especially in cases where big money is being transferred between parties and land registries are especially needed.
Another use described by the paper is on the basis of token-powered marketplaces. The report said that the use of such would allow for an improvement in trading and managing the said properties. It would also be easier for asset managers or property holders to liquidate their assets, something that would be especially worth it for investors with small stakes in properties.
What EEA released was really its first step towards a "common accord" for platforms using Ethereum as the base. The details that it released, Coin Desk reported, was actually the third version of a series of "client specification." The details released contained the regulations, as well as a general update on privacy and performance.
The details were discussed and released to the public during CoinDesk's Consensus 2019 conference. EEA released the Enterprise Ethereum Client Specification V3, which aimed to make systems permissions simple to understand, as well as provide clarity to enterprise blockchains and a whole range of other recommendations as well.
John Whelan, EEA chairman and also head of digital investment banking at the Banco Santander, said that there are three "Ps" in the enterprise there. These are the performance, permissioning, and privacy demands, and the idea is to get to the area where there can be readily designated "enterprise ready" and deliverable to different industries.
The report covered activities that have been completed using blockchain. It paid attention to Vermont's joint program with global blockchain real estate marketplace Propy Inc. It also covered the deal between Barclays and the Royal Bank of Scotland, where a trial into blockchain use was done to create a streamlined process of real estate purchasing using the tech.
