Let's say you develop a new technology that could allow many parties to enter into a real estate deal. Parties meet and complete details on timing, special circumstances and funding. How do these parties know that they can trust themselves? They should check their agreement with third parties - banks, legal teams, government registration and so on. This brings them back to the first in terms of using technology to save costs.
In the next step, third parties are now invited to join the real estate offer and give their opinion during the creation of the transaction in real time. This greatly reduces the role of the intermediary. If the agreement is transparent, the intermediary may even be eliminated in some cases. Lawyers are there to prevent miscommunication and judgment. If the terms are communicated in advance, these risks are considerably reduced. If financing arrangements are guaranteed in advance, it is known in advance that the agreement will be paid and the parties will honor their payments. This brings us to the last step of the example. If the terms of the agreement and the arrangements have been completed, how will the agreement be paid? The unit of measurement would be a currency issued by a central bank, which means facing the banks again. If this were to happen, the banks would not allow these agreements to be completed without due diligence, resulting in costs and delays. Is technology useful for creating efficiency so far? This is not likely.
Who is the solution? Create a digital currency that is not only as transparent as the agreement itself, but is actually a part of the terms of the agreement. If this currency is interchangeable with currencies issued by central banks, the only remaining requirement is to convert the currency into a currency known as the Canadian dollar or the US dollar that can be made at any time.
The technology mentioned in the example is block chain technology. Trade is the backbone of the economy. One of the main reasons why the money exists is for negotiation purposes. Trade represents a high percentage of activity, production and taxes for various regions. Any economy in this area that can be applied around the world would be very important. For example, look at the idea of free trade. Prior to free trade, countries would import and export with other countries, but they had a tax system that would force imports to restrict the effect that foreign goods had on the local country. After the free trade, these taxes were eliminated and much more goods were produced. Even a small change in trade rules had a big effect on world trade. Word trade can be broken down into more specific areas such as navigation, real estate, import / export and infrastructure and more obvious how lucrative is the blockchain if you can save still a small percentage of costs in these areas .
In the next step, third parties are now invited to join the real estate offer and give their opinion during the creation of the transaction in real time. This greatly reduces the role of the intermediary. If the agreement is transparent, the intermediary may even be eliminated in some cases. Lawyers are there to prevent miscommunication and judgment. If the terms are communicated in advance, these risks are considerably reduced. If financing arrangements are guaranteed in advance, it is known in advance that the agreement will be paid and the parties will honor their payments. This brings us to the last step of the example. If the terms of the agreement and the arrangements have been completed, how will the agreement be paid? The unit of measurement would be a currency issued by a central bank, which means facing the banks again. If this were to happen, the banks would not allow these agreements to be completed without due diligence, resulting in costs and delays. Is technology useful for creating efficiency so far? This is not likely.
Who is the solution? Create a digital currency that is not only as transparent as the agreement itself, but is actually a part of the terms of the agreement. If this currency is interchangeable with currencies issued by central banks, the only remaining requirement is to convert the currency into a currency known as the Canadian dollar or the US dollar that can be made at any time.
The technology mentioned in the example is block chain technology. Trade is the backbone of the economy. One of the main reasons why the money exists is for negotiation purposes. Trade represents a high percentage of activity, production and taxes for various regions. Any economy in this area that can be applied around the world would be very important. For example, look at the idea of free trade. Prior to free trade, countries would import and export with other countries, but they had a tax system that would force imports to restrict the effect that foreign goods had on the local country. After the free trade, these taxes were eliminated and much more goods were produced. Even a small change in trade rules had a big effect on world trade. Word trade can be broken down into more specific areas such as navigation, real estate, import / export and infrastructure and more obvious how lucrative is the blockchain if you can save still a small percentage of costs in these areas .
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