A startup called Kinsley Construction is building the world’s first blockchain-powered house.
The company’s CEO, Kiyoshi Kinoshita, has a background in real estate, and has been developing software that makes it easier for people to sell and buy homes.
He says his company’s software is being used to reduce costs and improve quality of life in rural areas, and that’s why he believes it’s a game-changer.
But how does it work?
Kinoshitas team has been working on this project for more than a year.
Their approach is a mixture of blockchain and real estate.
The startup is building an entire house using a blockchain, which is a digital ledger that records the real-world transactions of all the people who live in a property.
This process allows Kinoshitas team to use blockchain to automate the sale of homes in the U.S. without the need for intermediaries.
In order to build the first blockchain house in the United States, Kinoshiys team needed to secure a large chunk of land that was under the jurisdiction of the U, S. government.
They were able to do this by securing an initial loan from the federal government, and then building on top of that with a series of acquisitions.
“The government is one of the most transparent entities on the planet, so we just need to get them on board,” Kinoshima said.
The government has been a big part of Kinoshishis efforts to get the company to scale up.
The first blockchain company to receive a large loan from government was Zillow, which was founded in the early 2000s.
The Zillows loan secured Kinoshis team’s first purchase.
Kinoshishi said that once they secured the loan from Zillower, they were able use ZillOW to build a series and multiple transactions.
The initial transactions are done using blockchain, and when they get approved by the government, they are executed by the blockchain.
The team then goes back to Zillowers own blockchain and builds additional transactions, like the purchase of a second home.
This allows them to reduce the cost of buying a house without having to deal with real estate agents or banks.
“We use the blockchain technology to do things that are much simpler for people and that are faster, but it’s also going to make the process for buying houses a lot more convenient,” Kinishima said, adding that blockchain can also reduce costs by lowering the time it takes to get approvals for a property, as well as the cost for property management companies like real estate boards and real-estate agents.
In the end, Kinishis team hopes to get a blockchain house built in the next three to five years, and hopes to offer the service to people who aren’t able to get traditional financing.
“I think that’s where the blockchain is going,” Kinshima said of the potential for the technology to help.
Kinshita said that the technology will also help the development of the blockchain itself.
For example, the team is working on adding the ability to create a virtual blockchain to allow people to use a shared blockchain to make real-time transactions.
They are also working on ways to make this technology useful to the development community, which includes blockchain developers, and how to integrate it with existing systems like the World Wide Web.