The fundamental truth of blockchain technology lies in its ability to promote relative change in human behavior through internet-based collaboration and the secure and democratic sharing and access of data.

This change in behavior creates mutually beneficial results for all stakeholders, ensuring the creation of fairer and more democratic markets and societies.

To achieve this goal on a large scale, an incentive is needed to motivate stakeholders to share their information, with due reliability, called a token. This essential element has always been absent in well-known traditional business blockchains, which focused primarily on improving the quality of real-world data.

Business blockchains emerged as a solution to this issue, and in this case, of European real estate markets, to make them more transparent, secure, reliable and efficient, but for that to happen, we must stop having this approach where, the vast majority of players, due to a narrative sold over the last 40 (forty) years, that information must be stored in closed information silos.

Well, this was true ten years ago, and today people, citizens seek and demand transparency, and businesses will have to adapt to this new reality and demand on the part of citizens.

So let's get to know better the type of networks within this new concept, which are decentralized and distributed networks, so that later we can draw parallels about what is the best solution for European real estate markets:

1. Public

Public blockchains allow anyone to be part of them;
The operation of the network is completely transparent and open;
There are no centralized entities.
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2. Private

Access to the network is restricted to entities that are accepted by the central control unit;
Access to the transaction book or any other information medium generated is private;
The economic maintenance of the network is generally dependent on the company that supports the project.
This type of blockchain generally has the same elements as a public blockchain, but unlike these, permissioned blockchains depend on a central unit that controls all actions within it.

3. Hybrid or Federated Blockchain.

Access to the network is restricted to items that can only be authorized by other control units.
Access to the transaction book or any other means of information generated by the network is public.
The network's consensus is given by other means that guarantee that the data is correct. There's no mining or cryptocurrency.
The ecosystem is partially decentralized, which leads to a better level of information security and transparency.
This type of blockchain is a fusion between public and private blockchains. It's an attempt to get the best of both worlds. In these blockchains, participation in the network is private. That is to say, access to network resources is controlled by one or more entities. However, the ledger (or rather, the only source of truth) can be publicly accessed, if this is information of public interest. If the information is private, those with the right and with that interest should request access to it, in a very simple way. This means that anyone can explore block by block everything that happens in this type of network, taking into account the importance and privacy of the information in question.

These types of blockchain networks are very useful for European governments and regulators, or business organizations that want to securely store or share their data, obtaining a financial benefit by participating in the construction and maintenance of a database that will serve as the only source of truth for any sector or ecosystem of society. In the case of the real estate market, I can say that due to its context, and the fact that there are countless, too many, players with completely conflicting motivations, that this concept makes perfect sense and will make it more reliable for everyone.

For this reason, the future of the real estate market and the vision that I have brought in these last 12 months will be based on blockchain technology, so that once and for all we can unlock the transparency of information in this market that is of public interest, protecting the rest of the information that cannot be public in a way never thought before, creating a single source of truth and creating a financial incentive for all stakeholders to feel motivated to collaborate in this new paradigm where the citizen is placed at the center of the entire ecosystem. And note, I am also referring to the regulator and the governmental institutions that participate in this market.

Unlike analytics companies, Unlockit decided to solve the problem in the bud. We have, all those who intend to change the market, to place the citizen at the center of our thinking, and collaboratively make the market fairer, more efficient and transparent. Since entering the market, we promote empowering all players, without exception, and that is how we will behave. I know that this market is very prone to radical mistrust about everything and everyone, but we will be the forerunners of a different attitude, always honest and honest.

I leave a small question.

Why doesn't any citizen have access to the selling price of houses? What strong reason is there for this information not to be available to any citizen, with a few simple clicks away?

Someone who can explain to me, because to this day, I still haven't found any reason and this is one of my first missions as an entrepreneur, because I know that by doing so I will be improving the market and making society better. In 2019, the difference between the asking sale price and the actual sale price was 22% in Lisbon and 30% in Porto, and so this is where real estate speculation begins.

Don't think of blockchain technology as just a tool. They can think of it as a tool with the right capacity and requirements to offer better governance to business and to the management, maintenance, and provision of information. We deserve more and better, because at the end of the day, we're all citizens.

In addition to all the innovation that we are creating in terms of the digitalization and automation of any process of a European real estate transaction, we want and will create financial instruments that attack one of the major problems of this market: the lack of liquidity, and we want once and for all to try to create a product for the European rental market.

Our mission is right, completely right. Maybe that's why public and governmental institutions in Portugal and Spain are willing and very interested to sit down and talk with us and create short/medium term action plans so that this change can happen through co-innovation partnerships.