THELOGICALINDIAN - The blockchain has been alluring a lot of absorption from startups and accustomed businesses throughout the years Flip a peertopeer leasing exchange is now exploring the boundaries of this technology as well
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Flip P2P Marketplace for Leases
It has to be said — the Flip marketplace is absolutely a different business model. Embracing the peer-to-peer nature of marketplaces is consistently a acceptable start, but it charcoal to be apparent how able-bodied that translates in the leases market. Founder and CEO of Flip, Susannah Vila, believes there is a ample bazaar cat-and-mouse to be tapped.
As is the case with best of these avant-garde business models, Flip was built-in out of a claimed charge for Vila as it allows anyone to buy leases from approachable tenants or advertise leases that are no best desired. In a way, this cuts out the agent in the charter market, which will not alone save time but additionally a lot of hassle.
Most bodies see tenant leases a burden, rather than the admired asset they can be. For the tenants, however, it is rather difficult to opt in or out of an absolute lease, and the Flip belvedere will abridge this process. In fact, the absolute action should alone booty a few clicks to get aggregate sorted.
But there is a botheration with these leases as document artifice is a grave affair to Vila. The addressee accomplishment allotment of the charter flipping action is the better hurdle to tackle, which is why the Flip Report was introduced. As the name suggests, this is a certificate absolute banking and acclaim abstracts of the new tenant, which can be adapted as time progresses.
This is area blockchain technology comes into the account as the advice begin in the Flip Report is stored in a defended blockchain. But this is not the Bitcoin or Ethereum blockchain directly. Instead, Tierion uses a self-developed college achievement accomplishing of ChainPoint to abundance abstracts in a Merkle tree, of which the Merkle basis is amid into the Bitcoin blockchain. This allows for notarization of abstracts at a abundant cheaper amount than putting abstracts into the Bitcoin blockchain directly. Chainpoint is a amalgamated server for architecture blockchain notarized Merkle trees, which acknowledgment the Merkle affidavit as a receipt. Tierion is currently alive on an upgraded adaptation of the Chainpoint protocol.
Flip Founder and CEO Susannah Vila stated:
There seems to be a growing absorption in blockchain technology from the absolute acreage area as of late. In fact, there will be a appropriate conference in Newport Beach, CA discussing the abeyant use cases for blockchain in absolute estate. This accident is organized by the International Blockchain Absolute Acreage Association, which will booty abode May 17, 2016.
Although the autumn of Flip Reports on the blockchain is a cogent footfall advanced for the validation of this technology, some bodies are attractive at the approaching implications already. Charter administering is cumbersome, and a agenda charter on the blockchain could transform tasks such as renewing dates and adjusting rates into simple notifications, to eliminate paperwork and delays.
Does blockchain technology accept a approaching in absolute estate? Let us apperceive in the comments below!
Source: Cre Tech
Images address of Flip, Shutterstock
