AgentTechnology

Blockchain made relevant to real estate by Silicon Valley startup

The Chain Open Standard is said to improve virtual transactions in privacy, safety and speed
  • Chain Open Standard 1 (Chain OS 1), an open source blockchain protocol, was released May 2 after 18 months of development and collaboration
  • Chain, Inc. partnered with global financial service firms including CitiGroup, Visa and Capitol One during the process
  • The blockchain network connects multiple institutions and individuals to provide safe, efficient and unique transactions.

Remember when the idea of paying for everything with a plastic card seemed so out-there and unrealistic? Naysayers of virtual payment platforms like Bitcoin and blockchain have made the same argument. Blockchain is a database that is neutral and accessible to anyone with a computer. It's secure and enables participants to issue, transact and store financial assets digitally and in nearly an instant. Up until May 2, the relevance of blockchain was perhaps its most obvious argument among real estate professionals, but a new partnership could change that. Chain Open Standard 1 (Chain OS 1), an open source blockchain protocol, was released May 2 after more than a year of development and collaboration between Silicon Valley-based Chain, Inc. and multiple global financial services firms, including Visa, CitiGroup and Capitol One. "Chain is a dynamic collaborative partner in both our investment and innovation portfolios, enabling Citi to explore blockchain applications for o...