In this video, I’m going to show you how to use smart contracts to create a transparent and secure real estate transaction.
See how smart contracts can transform the way we do transactions and create a more efficient, cost-effective global economy.
Transcript:
Chris Bounds 00:02
I didn’t even see the use of creative smart contracts, playing out in the tokenization of real estate
Viktor Viktorov 00:10
What do you mean by creating smart contracts?
Chris Bounds 00:12
So, you can put anything you want in the smart contracts, which can include, say you own a very unique piece of historic property in your town. It’s been a rental property forever. I mean, you’re retiring, kind of like downsizing, and you sell it. But you can actually put that in the sauna contract that maybe you get a half a percent of the transaction every single time it’s sold in perpetuity.
Then that could go into a trust and provide for your family. What do you see? What are you seeing? It doesn’t have to be for real estate, because there’s, I mean, there’s a lot of comparisons just in, just the normal business world. Yeah, what do you say?
Viktor Viktorov 00:58
Yeah, yeah, I got it. So basically, smart contracts are gonna allow people to structure deals that weren’t possible today. And I mean, that what you said is a pretty good example, right now, it’s happening in the NFT world where, you know, sponsors or the initial owners or creators are able to benefit long term from the sale of acid depreciation, and so on. So, that could be incorporated in the smart contract.
And easily they can, you know, the initial creators or the owners that are putting the initial deal together, could be really creative and create something that is unique on the market. I think that’s the future. I think, that’s, you know, smart contracts could be designed in a very, very unique ways that there are gonna allow people to benefit much more than that.
We’re gonna seal, so, in my opinion, other youth farming solutions, who are staking solutions for, you know, where people are buying tokenized real estate, and they’re able to stake it to increase the amount of return they’re getting, in a sense, and we’re gonna see plenty of this of those down the road.
I’m pretty sure that, we’re gonna be surprised by very smart people jumping into that space and creating new models. Currently, I’m seeing huge development in that area. And, I’m seeing a lot of people trying to figure out, how to preach defy space, and the defy space and the traditional finance. So I think…
Chris Bounds 02:53
Yeah, it’s a fast, fast, fast moving industry market. I mean, AOL was king before Yahoo was King and like, like, then this Google company came along, so you just never know, like, for all we know, 15 years from now, like people will be thinking of Bitcoin like AOL. We don’t know that. They definitely have a really good reputation today.