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Article

Open Access

Attention to Disruption and Blockchain Creates a Viable Real Estate Economy

Author(s)

Jan Veuger

Full-Text PDF Download XML 10752 Views

DOI:10.17265/1548-6591/2017.05.003

Affiliation(s)

Hanze University of Applied Sciences Groningen, Groningen, the Netherlands

ABSTRACT

Does real estate still have the value that it once had, or will the valuation of real estate change due to surprising products and services, innovative business models, different market strategies, innovative ways of organizing and managing in the (real estate) markets? Innovation revolves around good facilities in an attractive and stimulating environment. Take disruptive real estate for example. The driving forces behind these developments are new technology, viability, organizing differently, and managing, and these have a big impact on the valuation of real estate. Established names like Nokia, Kodak, Blockbuster, Oad, Free Record Shop, Hyves, and V&D collapse, and others, like Hema, Shell, hotel chains, and healthcare institutions are the least bothered by it. However, disruptive organizations like Amazon, Zalando, Uber, Tesla, and its competitor Faraday Future who wants to exceed Tesla in everything, clearly respond to viability in the environment, and this is determinative for competitive strength and thus impacts the current and future valuation of real estate. Blockchain—a distributed database that contains a growing list of data items and that is hardened against manipulation and counterfeiting—plays an important role in that. The notaries and brokers have already experienced this in the recent period, and it will continue to have an effect on real estate owners, financiers, users, builders, brokers, notaries, and the cadastre. The real estate world finds itself at a tipping point of a transition: a dramatic and irreversible shift in (real estate) systems in society. This paper is a state of the art of disruption, Blockchain, and real estate in the Netherlands and international world.

KEYWORDS

disruption, real estate, Blockchain, trust, value

Cite this paper

Journal of US-China Public Administration, May 2017, Vol. 14, No. 5, 263-285

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