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Enterprise Ethereum Alliance publishes blockchain use cases for real estate industry

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The Enterprise Ethereum Alliance (EEA) today announced the publication of a detailed set of Enterprise Ethereum blockchain use cases for the real estate industry prepared by the EEA Real Estate Special Interest Group (SIG).

The document outlines the areas where EEA standards and Enterprise Ethereum blockchain technology implementations can transform the customer experience, speed up business transactions, and develop more efficient business models across the global real estate sector.

The EEA Real Estate SIG Use Case Overview represents several months of work by the group’s members, which include more than 50 global real estate leaders known for both innovation and accelerating the adoption of new real estate technology and standards.

The playbook features the following use cases:

  • Token Securitization
  • Land Registries and Cadastrals
  • Token-Enabled Marketplaces
  • Standardized Property Data
  • Tokenization of Real Estate
  • Sales Process Optimization
  • Real Estate Management
  • Property Identification, Listings, and Data

“This use case playbook is a direct result of the group’s mission to help define and educate how real estate leaders can play an active role in defining the blockchain standards of the future, ultimately reshaping the real estate ecosystem,” said EEA Real Estate SIG Chair Bastiaan Don, managing director, blockimmo. “We would like to thank all the members of the EEA Real Estate SIG for their extensive contributions. Our aim is that other global real estate leaders will join in our efforts to further define and expand upon this important work.”

Just like the internet opened up new ways to do business, blockchain promises to transform nearly every aspect of the real estate industry including property funding, development, ownership, and investment management.

“The real estate use case playbook will enable the EEA to define the specification building blocks needed to drive the next generation of Enterprise Ethereum real estate applications that, like the Internet, will work anywhere, and are capable of facilitating smart contracts without intermediaries,” said EEA Special Interest Group Evangelist Ken Fromm.

By outlining how standards-based Enterprise Ethereum applications can help create transparency and trust among users; reduce the risk of fraud; and lower frictions and transaction costs, the use cases document will aid the EEA Technical Specifications Task Force address real estate sector needs in its revision and expansion of the EEA’s Enterprise Ethereum Client Specification.

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NYSE files a trademark application for trading NFTs

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The world’s largest stock exchange may be planning to bring business into the Metaverse.

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Traders say $4,000 Ethereum back on the cards ‘if’ this bullish chart pattern plays out

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Global tensions that could trigger a correction in markets abound, but traders say ETH’s current setup could result in a swift return to the $4,000 level.

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CryptoPunks community reacts to the ongoing copyright battle between V1 and V2

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Although the collection is no longer deemed authentic by Larva Labs, its creators alleged sold 210 ETH worth of CryptoPunks V1 when the wrapped versions first gained traction.

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Binance.US is under investigation from SEC over trading affiliates: Report

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Binance CEO Changpeng Zhao allegedly has connections to two market makers buying and selling crypto on Binance.US.

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Boost Insurance unveils product covering against crypto theft from qualified custodians

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Boost Insurance, an insurance infrastructure-as-a-service platform, alongside go-to-market partner, Breach Insurance, a company that provides insurance technology and regulated insurance products for the cryptocurrency market, today announced the launch of Crypto Shield, an insurance product for cryptocurrency available to retail wallet holders.

Crypto Shield covers the theft of cryptocurrency while in the custody of a qualified custodian.

The Crypto Shield product allows individuals to purchase protection for their crypto wallets held by select custodians. In the case that the custodian is breached or suffers a social engineering attack resulting in lost assets, individuals insured under Crypto Shield can be reimbursed for the value of their policy.

Boost + Breach

While there is some commercial insurance available to cryptocurrency institutions, Breach envisioned Crypto Shield as a solution to the protection gap that currently exists for individuals holding crypto, securing a partnership with Boost to assist in bringing the Crypto Shield product to life.

Boost’s insurance infrastructure-as-a-service packages the necessary operational, technological, compliance, and capital requirements for new insurance programs into a white-label solution, enabling insurtechs like Breach to swiftly launch new lines of business.

“Boost’s deep expertise and insurance infrastructure-as-a-service platform, and Relm’s industry-leading crypto reinsurance capabilities, have positioned Breach to bring a highly complex insurance product to the market in a beautifully delivered customer experience.”
– Eyhab Aejaz, Co-Founder & CEO at Breach

To deliver that product in a seamless experience, Boost and Breach’s platforms connect via API, allowing Boost’s policy administration system to deliver back-end management for the Crypto Shield product. Breach’s customers are then able to purchase and manage every part of their policy and claims process, all from within Breach’s proprietary crypto insurance platform.

“With Boost’s infrastructure-as-a-service platform, companies like Breach can launch and deliver innovative new insurance offerings, at a fraction of the time and cost required to build a full-stack insurance program from scratch.”
– Alex Maffeo, CEO & Founder of Boost

In addition to powering the new product, Boost and Breach partnered to source and secure the necessary reinsurance backing from industry expert Relm Insurance Ltd. (Relm), underwritten by Trisura Specialty Insurance Company. Operating out of Bermuda, Relm is a capacity provider to the crypto sector with a track record of insuring companies across the ecosystem. Relm has recently been awarded an ‘A Exceptional’ Financial Stability Rating (FSR) by Demotech.

“Relm’s partnership with Boost and Breach to reinsure the US’s first cryptocurrency insurance product for retail wallet holders is a milestone in supporting the development of crypto and blockchain technologies.”
– Joe Ziolkowski, CEO at Relm

The post Boost Insurance unveils product covering against crypto theft from qualified custodians appeared first on CryptoNinjas.

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