{"id":40174,"date":"2018-04-06T12:45:52","date_gmt":"2018-04-06T11:45:52","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=40174"},"modified":"2022-10-19T15:48:40","modified_gmt":"2022-10-19T14:48:40","slug":"blockchain-the-future-of-housing","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/digital-construction-news\/blockchain-the-future-of-housing\/40174\/","title":{"rendered":"Blockchain: The future of housing?"},"content":{"rendered":"

With the benefits of blockchain technology ever-expanding, people have often asked the facetious question: \u201cYes, but can you live in it?\u201d<\/h2>\n

Unless you manage to upload your consciousness into your laptop next time you are at Starbucks, then the simple answer is no.<\/p>\n

Or is it?<\/p>\n

While it may not be possible to live in the blockchain as a concept, the benefits the technology can provide certainly have the potential to revolutionise the housing market in the UK.<\/p>\n

What is Blockchain?<\/h3>\n

Imagine a world where everyone has to agree something is correct for it to be so. No ifs, buts or maybes.<\/p>\n

Blockchain is a digital record of transactions, where the movement of any asset between owners is logged and distributed across a large network, with identical copies of the information stored over huge numbers of computers in \u2018 blocks\u2019, hence the name. These blocks (and the information inside) are kept safe from tampering by cryptography. It\u2019s also the technology behind the cryptocurrency Bitcoin<\/a>.<\/p>\n

How is safety ensured?<\/h3>\n

Since the information is public, everyone involved benefits from keeping it honest – meaning it\u2019s easier to spot issues as they arise. The example often cited is that of a story.<\/p>\n

Imagine telling a story to 500 people. Over time, the story will often end up being changed, either accidentally or deliberately. However, on the blockchain, everyone is telling the same story, so if 499 people are telling one version and one person has made a few changes to suit their own purposes; it\u2019s obvious who is at fault.<\/p>\n

Effectively this allows the network to act as a trust mechanism without the need for any centrally-housed authority (big banks, government etc). Welcome to decentralisation.<\/p>\n

Smart contracts<\/h3>\n

One of the biggest benefits from the blockchain is the ability to create \u2018smart contracts<\/a>\u2019, which allow for specified cause and effect – if X occurs, then Y should happen. This is automatically enforced by the code and cannot be tampered with by any party. As you might already have guessed, this makes it perfect for selling and buying property.<\/p>\n

Blockchain and housing <\/a><\/h3>\n

It is well known that we are crazy for property here in the UK. The property market is worth around \u00a36,000,000,000,000 (that\u2019s 6 trillion) depending on whose statistics you choose to go by.<\/p>\n

Strangely though, we still have a house -buying process plagued by complication and risk, as well as a challenging system to get mortgages for said homes. That\u2019s why mortgage and housing specialists like Propillo<\/a> are championing the benefits of new technology, with the blockchain being one of the best.<\/p>\n

With the blockchain, buyers and sellers can use the aforementioned \u2018smart contracts\u2019 to carry out a house sale – cutting down on hidden costs. Not only does it ensure complete transparency on both sides, it also limits the risk of either the buyer or seller pulling out of the deal, leaving the other frustrated.<\/p>\n

What\u2019s more, in 2018, more and more companies are expected to embrace the Blockchain and Bitcoin revolution, with one company in New York even allowing tenants to pay their rent in Bitcoin.<\/p>\n

How far this blockchain revolution will go, only time will tell. All we know is, there\u2019s never been a better time to get involved.<\/p>\n

 <\/p>\n

 <\/p>\n

Matthew\u00a0Tansley<\/strong><\/p>\n

Propillo<\/p>\n

www.propillo.com<\/a><\/p>\n

Twitter: @Propillo<\/a><\/p>\n

\n<\/div>","protected":false},"excerpt":{"rendered":"

While it may not be possible to live in the blockchain as a concept, the benefits the technology can provide certainly have the potential to revolutionise the housing market in the UK<\/p>\n","protected":false},"author":16,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[141293],"tags":[172723,656,747],"stakeholder_rel_tag":[],"contributor_rel_tag":[],"class_list":{"0":"post-40174","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-digital-construction-news","7":"tag-blockchain","8":"tag-housing","9":"tag-property"},"acf":[],"yoast_head":"\nBlockchain: The future of housing? | Planning, Building & Construction Today<\/title>\n<meta name=\"description\" content=\"While it may not be possible to live in the blockchain as a concept, the benefits the technology can provide certainly have the potential to revolutionise the housing market in the UK\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.pbctoday.co.uk\/news\/digital-construction-news\/blockchain-the-future-of-housing\/40174\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Blockchain: The future of housing?\" \/>\n<meta property=\"og:description\" content=\"While it may not be possible to live in the blockchain as a concept, the benefits the technology can provide certainly have the potential to revolutionise the housing market in the UK\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.pbctoday.co.uk\/news\/digital-construction-news\/blockchain-the-future-of-housing\/40174\/\" \/>\n<meta property=\"og:site_name\" content=\"Planning, Building & Construction Today\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/PBCToday\/\" \/>\n<meta property=\"article:published_time\" content=\"2018-04-06T11:45:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-10-19T14:48:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.pbctoday.co.uk\/news\/wp-content\/uploads\/2018\/04\/Blockchain-The-Future-of-Housing.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"801\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Steph Blundell\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/Steph_PBCToday\" \/>\n<meta name=\"twitter:site\" content=\"@PBC_Today\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/digital-construction-news\/blockchain-the-future-of-housing\/40174\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/digital-construction-news\/blockchain-the-future-of-housing\/40174\/\"},\"author\":{\"name\":\"Steph Blundell\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/person\/baf6766a43e70a35cada0c600519a2fb\"},\"headline\":\"Blockchain: The future of housing?\",\"datePublished\":\"2018-04-06T11:45:52+00:00\",\"dateModified\":\"2022-10-19T14:48:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/digital-construction-news\/blockchain-the-future-of-housing\/40174\/\"},\"wordCount\":555,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#organization\"},\"keywords\":[\"Blockchain\",\"Housing system\",\"Property Development\"],\"articleSection\":[\"Digital Construction News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.pbctoday.co.uk\/news\/digital-construction-news\/blockchain-the-future-of-housing\/40174\/#respond\"]}],\"copyrightYear\":\"2018\",\"copyrightHolder\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/digital-construction-news\/blockchain-the-future-of-housing\/40174\/\",\"url\":\"https:\/\/www.pbctoday.co.uk\/news\/digital-construction-news\/blockchain-the-future-of-housing\/40174\/\",\"name\":\"Blockchain: The future of housing? | Planning, Building & Construction Today\",\"isPartOf\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#website\"},\"datePublished\":\"2018-04-06T11:45:52+00:00\",\"dateModified\":\"2022-10-19T14:48:40+00:00\",\"description\":\"While it may not be possible to live in the blockchain as a concept, the benefits the technology can provide certainly have the potential to revolutionise the housing market in the UK\",\"breadcrumb\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/digital-construction-news\/blockchain-the-future-of-housing\/40174\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.pbctoday.co.uk\/news\/digital-construction-news\/blockchain-the-future-of-housing\/40174\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/digital-construction-news\/blockchain-the-future-of-housing\/40174\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.pbctoday.co.uk\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Blockchain: The future of housing?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#website\",\"url\":\"https:\/\/www.pbctoday.co.uk\/news\/\",\"name\":\"Planning, Building & Construction Today\",\"description\":\"The Latest Planning, Building & Construction News\",\"publisher\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.pbctoday.co.uk\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#organization\",\"name\":\"Planning, Building & Construction Today\",\"alternateName\":\"PBC Today\",\"url\":\"https:\/\/www.pbctoday.co.uk\/news\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.pbctoday.co.uk\/news\/wp-content\/uploads\/2022\/01\/pbctoday-logo-yoast-seo-organisation-1920-1080-001.jpg\",\"contentUrl\":\"https:\/\/www.pbctoday.co.uk\/news\/wp-content\/uploads\/2022\/01\/pbctoday-logo-yoast-seo-organisation-1920-1080-001.jpg\",\"width\":1920,\"height\":1080,\"caption\":\"Planning, Building & Construction Today\"},\"image\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/PBCToday\/\",\"https:\/\/x.com\/PBC_Today\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/person\/baf6766a43e70a35cada0c600519a2fb\",\"name\":\"Steph Blundell\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/62283f53e7b9ae55cd3516832342b97ce87c86f2c2130dfce68124d194b36df8?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/62283f53e7b9ae55cd3516832342b97ce87c86f2c2130dfce68124d194b36df8?s=96&d=mm&r=g\",\"caption\":\"Steph Blundell\"},\"description\":\"Steph is the Senior Digital Editor here at PBC. When she\u2019s not working hard on cranking out first-class content for our online viewers to enjoy, she\u2019s keeping our social media lively and up to date\u2026 you could call her a social media guru? We\u2019re sure she\u2019d like that. With a BA in English and Journalism, Steph isn\u2019t fazed by attention to detail; on the contrary, she enjoys getting her teeth into a good article. In her downtime Steph loves nothing more than getting together with friends to enjoy a few (several) gin and tonics. Think you\u2019ve got some content Steph would be interested in? You can contact her either by phone on (01270) 502876 or by email at sblundell@pbctoday.co.uk\",\"sameAs\":[\"https:\/\/www.pbctoday.co.uk\",\"https:\/\/www.linkedin.com\/in\/steph-blundell\/\",\"https:\/\/x.com\/https:\/\/twitter.com\/Steph_PBCToday\"],\"url\":\"https:\/\/www.pbctoday.co.uk\/news\/author\/stephblundell\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Blockchain: The future of housing? | Planning, Building & Construction Today","description":"While it may not be possible to live in the blockchain as a concept, the benefits the technology can provide certainly have the potential to revolutionise the housing market in the UK","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.pbctoday.co.uk\/news\/digital-construction-news\/blockchain-the-future-of-housing\/40174\/","og_locale":"en_US","og_type":"article","og_title":"Blockchain: The future of housing?","og_description":"While it may not be possible to live in the blockchain as a concept, the benefits the technology can provide certainly have the potential to revolutionise the housing market in the UK","og_url":"https:\/\/www.pbctoday.co.uk\/news\/digital-construction-news\/blockchain-the-future-of-housing\/40174\/","og_site_name":"Planning, Building & Construction Today","article_publisher":"https:\/\/www.facebook.com\/PBCToday\/","article_published_time":"2018-04-06T11:45:52+00:00","article_modified_time":"2022-10-19T14:48:40+00:00","og_image":[{"width":1200,"height":801,"url":"https:\/\/www.pbctoday.co.uk\/news\/wp-content\/uploads\/2018\/04\/Blockchain-The-Future-of-Housing.jpg","type":"image\/jpeg"}],"author":"Steph Blundell","twitter_card":"summary_large_image","twitter_creator":"@https:\/\/twitter.com\/Steph_PBCToday","twitter_site":"@PBC_Today","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.pbctoday.co.uk\/news\/digital-construction-news\/blockchain-the-future-of-housing\/40174\/#article","isPartOf":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/digital-construction-news\/blockchain-the-future-of-housing\/40174\/"},"author":{"name":"Steph Blundell","@id":"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/person\/baf6766a43e70a35cada0c600519a2fb"},"headline":"Blockchain: The future of housing?","datePublished":"2018-04-06T11:45:52+00:00","dateModified":"2022-10-19T14:48:40+00:00","mainEntityOfPage":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/digital-construction-news\/blockchain-the-future-of-housing\/40174\/"},"wordCount":555,"commentCount":0,"publisher":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/#organization"},"keywords":["Blockchain","Housing system","Property Development"],"articleSection":["Digital Construction News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.pbctoday.co.uk\/news\/digital-construction-news\/blockchain-the-future-of-housing\/40174\/#respond"]}],"copyrightYear":"2018","copyrightHolder":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/#organization"}},{"@type":"WebPage","@id":"https:\/\/www.pbctoday.co.uk\/news\/digital-construction-news\/blockchain-the-future-of-housing\/40174\/","url":"https:\/\/www.pbctoday.co.uk\/news\/digital-construction-news\/blockchain-the-future-of-housing\/40174\/","name":"Blockchain: The future of housing? | Planning, Building & Construction Today","isPartOf":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/#website"},"datePublished":"2018-04-06T11:45:52+00:00","dateModified":"2022-10-19T14:48:40+00:00","description":"While it may not be possible to live in the blockchain as a concept, the benefits the technology can provide certainly have the potential to revolutionise the housing market in the UK","breadcrumb":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/digital-construction-news\/blockchain-the-future-of-housing\/40174\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.pbctoday.co.uk\/news\/digital-construction-news\/blockchain-the-future-of-housing\/40174\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.pbctoday.co.uk\/news\/digital-construction-news\/blockchain-the-future-of-housing\/40174\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.pbctoday.co.uk\/news\/"},{"@type":"ListItem","position":2,"name":"Blockchain: The future of housing?"}]},{"@type":"WebSite","@id":"https:\/\/www.pbctoday.co.uk\/news\/#website","url":"https:\/\/www.pbctoday.co.uk\/news\/","name":"Planning, Building & Construction Today","description":"The Latest Planning, Building & Construction News","publisher":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.pbctoday.co.uk\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.pbctoday.co.uk\/news\/#organization","name":"Planning, Building & Construction Today","alternateName":"PBC Today","url":"https:\/\/www.pbctoday.co.uk\/news\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/logo\/image\/","url":"https:\/\/www.pbctoday.co.uk\/news\/wp-content\/uploads\/2022\/01\/pbctoday-logo-yoast-seo-organisation-1920-1080-001.jpg","contentUrl":"https:\/\/www.pbctoday.co.uk\/news\/wp-content\/uploads\/2022\/01\/pbctoday-logo-yoast-seo-organisation-1920-1080-001.jpg","width":1920,"height":1080,"caption":"Planning, Building & Construction Today"},"image":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/PBCToday\/","https:\/\/x.com\/PBC_Today"]},{"@type":"Person","@id":"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/person\/baf6766a43e70a35cada0c600519a2fb","name":"Steph Blundell","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/62283f53e7b9ae55cd3516832342b97ce87c86f2c2130dfce68124d194b36df8?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/62283f53e7b9ae55cd3516832342b97ce87c86f2c2130dfce68124d194b36df8?s=96&d=mm&r=g","caption":"Steph Blundell"},"description":"Steph is the Senior Digital Editor here at PBC. When she\u2019s not working hard on cranking out first-class content for our online viewers to enjoy, she\u2019s keeping our social media lively and up to date\u2026 you could call her a social media guru? We\u2019re sure she\u2019d like that. With a BA in English and Journalism, Steph isn\u2019t fazed by attention to detail; on the contrary, she enjoys getting her teeth into a good article. In her downtime Steph loves nothing more than getting together with friends to enjoy a few (several) gin and tonics. Think you\u2019ve got some content Steph would be interested in? You can contact her either by phone on (01270) 502876 or by email at sblundell@pbctoday.co.uk","sameAs":["https:\/\/www.pbctoday.co.uk","https:\/\/www.linkedin.com\/in\/steph-blundell\/","https:\/\/x.com\/https:\/\/twitter.com\/Steph_PBCToday"],"url":"https:\/\/www.pbctoday.co.uk\/news\/author\/stephblundell\/"}]}},"publishpress_future_action":{"enabled":false,"date":"2026-10-03 20:54:27","action":"change-status","newStatus":"draft","terms":[],"taxonomy":"category","extraData":[]},"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/posts\/40174","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/comments?post=40174"}],"version-history":[{"count":0,"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/posts\/40174\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/media?parent=40174"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/categories?post=40174"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/tags?post=40174"},{"taxonomy":"stakeholder_rel_tag","embeddable":true,"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/stakeholder_rel_tag?post=40174"},{"taxonomy":"contributor_rel_tag","embeddable":true,"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/contributor_rel_tag?post=40174"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}