With the release of FIBREE’s 4th annual Blockchain Real Estate Industry Report for 2022, the Foundation for International Blockchain and Real Estate Expertise is proving itself as one of the strongest organizations researching the intersection of blockchain and real estate.
Founded in Amsterdam in 2018, FIBREE aims to bring together real estate professionals and blockchain specialists worldwide to exchange expertise. Comprising 18 articles on subjects that range from tokenized real estate use cases to Web3, the Metaverse, and virtual real estate, FIBREE’s report also maps openness to blockchain and tokenization in global locations.
Highlights from the Report
There is across-the-board acceptance in the many articles presented in the report that blockchain is not only here to stay but is enhancing the trust, transparency, and data-sharing in real estate transactions. There is tangible excitement in most of these articles about what the future holds for blockchain.
A use case in England, by authors Kevin O’Grady & Jo Bronckers, FIBREE Regional Chairs respectively in London and Amsterdam, describes the online, “Sign Your Mortgage Deed” system, where thousands of mortgages have now been produced and signed as part of a largely disintermediated digital conveyance process legitimately recorded at the British Land Registry.
In an article entitled, “Put Your Money Where Your Impact Is – and Have No Doubt about it with Distributed Ledger Technology,” Roland H. Farhart, FIBREE’s chair in Frankfurt am Main, suggests that sustainability factors such as carbon emissions that can be tracked by blockchain “can enhance investment performance by enabling reliable and solid decision metrics, and building trust with external stakeholders.”
When it comes to the Metaverse, Achim Jedelsky, President of FIBREE, suggests that innovations should take into account solving real estate challenges in the real world before we try to solve them in the Metaverse. “We are at risk of bringing our mistakes with us to the metaverse – instead of creating something that offers better mechanisms than we know today.”
Countries on the Map for Tokenization Adoption
FIBREE is not only a network of experts but also a network of innovative startups. The synergy of providing access to startups to FIBREE’s global marketplace in turn creates FIBREE’s global presence.
As of June 2022, FIBREE is represented in 32 countries at 72 locations with 89 active regional chairs. The data for the participating country reports have been aggregated by the regional chairs of the specific country based on their knowledge of the industry. This data does not claim to be complete or accurate but is intended to provide an indication of the current state of the industry.
Most countries have marked themselves “partly digital, but mostly paper-based” or “mostly digital,” while the Gartner Hype Cycle shows wide swings from “expectations on the rise” to “sliding into the trough of disillusionment.”
What is clear is that FIBREE’s presence in these countries signals a trend toward furthering blockchain adoption. In a world that is increasingly impacted by technology, real estate processes will have to change, too. Blockchain technology is a crucial aspect of this change.
SolidBlock’s CEO Yael Tamar is the regional chair of FIBREE Israel. SolidBlock is a leader in Tokenization as a Service (TaaS) for real estate, integrating blockchain and Web3 technology to allow real-world assets to join the emerging blockchain economy.
As blockchain fuels change in the way real estate is transacted, SolidBlock empowers asset owners to transact differently—buy, sell, raise capital, and collateralize—and to issue, manage, and allocate their tokenized property on a secure, immutable, transparent system.