FIBREE INDUSTRY REPORT · 4 CONTENTS FIBREE INDUSTRY REPORT 2019 IMPRINT The FIBREE Industry Report...
Transcript of FIBREE INDUSTRY REPORT · 4 CONTENTS FIBREE INDUSTRY REPORT 2019 IMPRINT The FIBREE Industry Report...
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EDITORIALAchim Jedelsky
Dear Reader,
One year ago - July 2018 - FIBREE was only an idea of
a few blockchain enthusiast and real estate professionals.
The idea was born in Vienna, and established as a not-for-
profit foundation in Amsterdam. From day one FIBREE
was active in 8 countries and could build on a solid
network of international experts. Thanks to this, and the
ever growing interest in how blockchain technology can
be used in the built environment, FIBREE grew within 12
month to a global organisation that is today present in 42
locations in 23 countries across five continents.
By growing this network, FIBREE gained the means to
produce this unique industry report which you are reading
3EDITORIAL
right now. We aggregated the feedback from 55 regional
chairs (at some locations there is more than one regional
chair) and are now able to offer you a global view on the
status of blockchain in real estate.
We also were able to collect the input of some of the
brightest minds in the blockchain / real estate universe.
Thanks to their efforts we hope that we can give you
insight into how the industry works and what prospects
and challenges we face in the next years.
To achieve all this in such a short period of time was only
possible because of the huge enthusiasm and engagement
of the FIBREE participants, and thanks to the support
of our sponsors and partners. At a time where we had
nothing to show for but an ambitious vision, we could
still count on the trust of both regional and international
players who enabled us to get to the point where we are
today.
With all of this in mind, I am looking with excitement and
confidence in the future of FIBREE. I am also aware that
we still have a long way to go, and that this report is only
the beginning - a line in the sand, nothing more - and that
we still have a lot of work in front of us. But as a strong
community we will embrace this, and are eager to actively
shape the future of our industry!
With the best wishes,
Achim Jedelsky
President of FIBREE
PS: If you read this and share our vision and want to
support us, please get in touch!
4 CONTENTS FIBREE INDUSTRY REPORT 2019
IMPRINTThe FIBREE Industry Report is the most important yearly contribution of FIBREE to the market. It gives some in depth articles and a worldwide overview of the latest developments in the field of Blockchain and Real Estate.
For the creation of this 2019 edition a working group has been formed within FIBREE,
consisting of the following people:
Achim Jedelsky (Germany)
Alexander Appelmans (Belgium)
Alex dell’Orto (Italy)
Denis Petrovcic (Slovenia)
Florian Huber (Austria)
Jo Bronckers (Netherlands)
Jan Veuger (Netherlands)
Mariam Turashvili (Georgia)
Pete Su (USA)
Sebastian Hewing (Taiwan)
Sagar Brahmbhatt (Australia)
Tomica Cesar (Croatia)
Walter Strametz (Austria / Switzerland)
Also special thanks for their contribution and effort to the editorial team: Eric Bryant, John Dean Markunas, Kevin O’Grady,
Ranga Krishnan and Stephen Inscoe.
Design and layout
Maximilian Huber / www.eracht.at
Get in touch with FIBREE
FIBREE aims to continue the research and knowledge exchange about blockchain and real estate developments. FIBREE
invites product-suppliers, real estate organisations, legal firms, startups, research organizations, press or other interested
organizations that want to get in touch with FIBREE to reach out to us by sending your request to: [email protected]
If you’d like to become a participant and eventually take an active role within FIBREE, or if you want to put your startup
in the spotlight, please check the connect-part at our website www.fibree.org and subscribe to the engagement of your
preference.
Nothing of this publication may be reproduced without the prior written consent of FIBREE or without clear
acknowledgement of the source.
© July 2019, FIBREE, all rights reserved
CONTENTS
Introduction to Real Estate for Technologists
The State of Blockchain in Real Estate, 2019
Our Sponsors
What is Blockchain and why it fits to Real Estate
Global Network
Our Partners
Chairs
Top 3 Blockchain Use Cases in Real Estate Industry
Product Database
Board
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11
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08
20
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87
09
68
86
5CONTENTS
Real estate is the largest investment class in the world.
Investment in real estate usually involves large sums
of money and is usually for a long period of time. Processes
and property registrations are time-consuming and
generally well documented, but are still far from sufficient
in some countries. Real estate is seen by investors as
a relatively non-transparent and illiquid investment
category compared to equities and bonds. Today, as more
information is recorded to provide greater transparency,
liquidity is gained through new forms of real estate
investment such as crowdfunding and crowdinvesting. In
this context, the lack of information necessary to facilitate
transparency is seen as an increased risk by all investors.
In general, the real estate chain has a wide variety of
information domains. These domains are generally well
developed in advanced real estate markets. However,
in many of these domains, data is siloed and not shared
with other domains, resulting in a highly fragmented data
landscape.
Introduction to Real Estate for Technologists
6 INTRODUCTION TO REAL ESTATE FOR TECHNOLOGISTS
Usage
Finan
ce
Transfer
Maintenance Con
stru
ctio
n
Redev
elop
men
t
Building ID
Division ID
FIBREE INDUSTRY REPORT 2019
An integrated approach is not (yet) in place and progress
towards integration is mainly visible in property sales
and the financing thereof. Professionals are now looking
towards a more integrated approach leveraging Blockchain
technology. If we look at PropTech‘s developments in the
periods before 1985, between 1985-2005, between
2005-2015 and from 2015 to the present day, designated
by Prof. Andrew Baum as prior to 1.0, 2.0 and 3.0 periods
respectively, we see a relatively slow development of
digitization, especially compared with the adoption of
technology in the finance industry (Fintech).
In the PropTech 2.0 period, more and higher quality data
and processes became available in the form of Building
Information Modeling (BIM). In our current PropTech 3.0
period the addition of new technologies such as Blockchain
and artificial intelligence (AI), increasingly enable us to
perform processes remotely and autonomously. This will
require some new legislation and regulations, but it is also
clearly developing as new technologies respond to the
possibilities of Blockchain.
Real estate as a service and the circular economy are
also themes in the PropTech 3.0 period. In a more
service-oriented real estate future, short cyclical (rental)
agreements and international owners are trends to note.
The classic model of a property with bare space and no
services on a long-term lease has low administrative
complexity, but requires large financial commitments.
There is a growing trend away from the classic model
towards short-lived rentals such as flex-offices, pop-up
stores, co-living, etc.and partly as a result of this, inclusion
of flexible, tailor-made services. As a result, there are
many more leasing transactions and the financial interest
per transaction is much smaller than in the classic model.
This however comes with an explosion in administrative
complexity. Moreover, on the ownership side there is
a trend towards multiple, short-lived and potentially
international owners as a result of crowd investing.
Blockchain can add a great deal of value in managing this
leasing and ownership complexity.
Making real estate processes more efficient and
transparent will not only grow the industry and open it up
to new markets, but also has the potential to save resources
or reduce carbon-emissions and make internal processes
more sustainable. A building is not a construction on its
own, but a large long term investment that impacts and
is impacted by its surroundings. Imagine the impact it can
have on common markets like Cities, Energy, Property,
Transport or Water. According to scientific research,
the built environment is responsible for 40% of the total
energy use and the manufacturing of buildings represents
50% of the total flow of raw materials. The industry is
going from linear processes - where a building lasts for
eternity, to sustainable real estate - with BREEAM, WELL
or ESG performance assessments, environmental labels
and circular solutions that focus on reuse, limited spoiling
of materials and reduction of resource usage and CO2
footprint. These mechanisms and processes can be made
more efficient using blockchain technology, because it can
help manage complexities of the circular economy. •
7INTRODUCTION TO REAL ESTATE FOR TECHNOLOGISTS
1985
Linear2010
Sustainable2020
Circular2030
PropTech 1.0 PropTech 2.0 PropTech 3.0
2005 2015
• blockchain• artificial intelligence
• online real estate info• smart real estate• sharing economy• BIM
• Software to support real estate processes
• Traditional processes with many intermediaries
source: Prof. Andrew Baum, Oxford University / Said Business School
Prior to PropTech 1.0
Authors: Jo Bronckers, Jan Veuger, Alexander Appelmans,
Tomica Cesar, Sagar Brahmbhatt
We are increasingly hearing that Blockchain
technology is being compared to the Internet
thirty years ago, both from the point of view of its potential
and the way in which it is entering the market and in some
cases changing the very concept of the sector in which it
wants to operate.
It has been observed that in the financial sector this
technology has had a deep effect on the development of
recent years and it is natural to ask where this technology
can still be implemented and the changes that will follow
these applications.
The purpose of Blockchain is the creation and management
of distributed databases for peer-to-peer transactions,
shared between the nodes of a network. An infrastructure
that therefore proves to be ideal for managing data
precisely, representing the will of the community in which
it is adopted and in which shared rules are set and able
to create liquid value, value that can be exchanged within
the infrastructure in an incensurable, immutable and
recognizable way.
As the internet has profoundly modified our way of
conceiving data and creating values, the blockchain
is changing how we intend to exchange these values,
bringing with it not only different visions but also the need
to adapt existing models, the need for a new paradigm, for
this technology cannot be applied to old models of value
management.
Precisely because of the essential characteristics of
Blockchain, it can be applied very effectively and efficiently
to the Real Estate sector, where for more and more time
it is clear the need to be able to manage values, data and
rights in a transparent and optimized way, reducing the
problems of a contractual nature and the frictions related
to them.
By Alex Dell’Orto
Authors: Alexander Appelmans,Mariam Turashvili
What is Blockchain and why it fits to Real Estate
8 WHAT IS BLOCKCHAIN AND WHY IT FITS TO REAL ESTATE
The transparency of the data and the possibility of
verifying it from within the infrastructure allows users
to have confidence and opens up the possibility of new
processes, for example by changing the conception of
what is now considered real estate within a global market
through the process of tokenization. Having a global value
and recording events in a certain, immutable and verifiable
way, it is possible to transfer currencies and rights in total
security and without intermediaries, meaning an evolution
and a revolution for real estate.
There are countless sectors where this technology
can change many aspects for the better; from energy
management to transport or from applications in cities,
to value management. When applied to the real estate
sector it is possible to benefit from the management
and exchange of the value of the property. During the
development of this technology it is necessary to build a
new paradigm, in which machines and humans have the
possibility to communicate, and above all, to carry out
safe and efficient transactions.
To date, the construction of a decentralized infrastructure
used for transactions, characterized by interoperability
and regulated by common standards, is therefore the first
challenge to be addressed.
Thanks to this technology and through automation
processes and smart contracts it is possible to eliminate
non-valuable tasks of intermediaries and their related
costs, increase the efficiency of operations and their
speed, but above all reduce the risk of fraud and scams
thanks to the possibility of verification in the distributed
register.
In conclusion, the application of Blockchain to real estate
will certainly bring many benefits, but on the other hand
also challenges that will require new expertise to better
understand and guide this evolution and revolution. •
FIBREE INDUSTRY REPORT 2019
Blockchain technology affects the real estate sector
in different ways. Although blockchain technology,
as a public medium for conveyance without third party
intervention, seems to be by its very nature a “next step”
within the world of building contracts and real estate
transactions. There is often a powerful tension between
the basic foundations of these concepts and the features
of blockchain technology. Around the world; start-
ups, banks, governments, academics, and blockchain
enthusiasts are working to overcome these tensions. We
discuss three main use cases that stand out:
1° REAL ESTATE TRANSACTIONS
Blockchain applications often tend to focus on eliminating
trusted third parties. In the case of real estate transaction
these middlemen have long been under scrutiny. They
are considered slow, expensive and ineffective. There
is obviously a difference depending on the specific legal
framework, but in general we observe applications that
focus on banks, notaries and land registries. Countries
such as Sweden, the UK, the Netherlands, Estonia, Dubai,
Ghana and Georgia have developed applications to
facilitate more efficient and smooth transaction process.
Top 3 Blockchain Use Cases in Real Estate Industry
9TOP 3 BLOCKCHAIN USE CASES IN REAL ESTATE INDUSTRY
The Georgian use case sheds light on the potential impact
blockchain can have on real estate transactions. The
Georgian National Agency for Public Registry (NAPR)
has built a blockchain add-on to their existing system. In
doing so, they want to guarantee the authenticity of a
land title. Since February 2017 information on 2 million
extracts has already been “authenticated” and stored in
a public blockchain. For every title a unique hash code is
generated. These hashes are then uploaded on the Bitcoin
blockchain. An identical hash on both the blockchain and
the NAPR website confirms authenticity of the title. After
completing this proof of concept phase, NAPR is now
moving forward to implement a new service they dubbed
“TRUSTcontracts”.
By blending smart contracts into the transaction
infrastructure, they aim to provide a digitally performant
system that allows citizens to receive certified documents
via a platform that bundles information now still siloed
within the different government agencies. Smart
contracts will allow the closing of an agreement between
two or more parties, the registration of this transaction
in the property register, and the transfer of the purchase
price. Automating these steps should address financial
risks or fraud associated with registration of property
when selling and buying.
2° REAL ESTATE TOKENIZATION
Real estate is the biggest asset class in the world. At the
same time, it is also one of the most illiquid investments
one can make. Generally, investing in real estate is
hard to access, time-consuming and capital intensive.
Tokenization of real estate assets intend to disrupt these
obstacles, by taking us from a world where a property
is transferred infrequently like several years or even
decades, to a new reality where hundreds of transactions
are executed within minutes. Tokenization is a broad
concept. It might refer to either representing shares in a
real estate investment trust with tokens; using a unique
non-fungible token to represent a single property, or
converting a single property into e.g. 100,000 tokens.
All these approaches of real estate tokenization could
be more commonly referred to as the “digitalization of
assets”. Once a real estate asset is represented by a digital
token(s) and governed by the transactional rules of a
blockchain, some frictions of transacting between two or
more parties could be considerably reduced.
Analyzing established co-investment solutions like REITs,
syndications or crowdfunding, we notice that certain
features are important to investors: e.g. diversification,
online convenience, and investor control. The problem
is that these solutions have technical limitations.
Tokenization offers investors a solution that allows
customizable diversification, no investment lock-ups,
transactional efficiency, low fees, online secondary market
trading, fractional stakes, risk control, more transparency,
portfolio automation, and last but not least higher liquidity
due to the fact that the tokenized assets have the potential
to become exposed to a global economy. Higher liquidity
doesn’t make sense in every market. Prime real estate
markets, like San Francisco, have no liquidity problems.
These markets have enough buyers for properties of any
size. But in hundreds of smaller markets around the world,
properties of a bigger size have only few potential buyers.
Even though the real estate tokenization industry is still
in the early stages, tokenized properties of various sizes
and types are already coming to the online markets. So
how big is the potential here? If we look at commercial
real estate alone, globally it is valued at 50 trillion. Out of
that, 2.8 trillion is considered as professionally managed.
If we project that in 10 years time, 1% of that value will be
tokenized, that creates a market worth 28 billion.
10 TOP 3 BLOCKCHAIN USE CASES IN REAL ESTATE INDUSTRY
3° DECENTRALIZED INFRASTRUCTURE
Building a transactional infrastructure brings the
question of harmonization again to the forefront. This
could be considered as one of the first ‚lessons learned‘
by the real estate and blockchain community. Building
a new infrastructure requires common standards and
definitions. Blockchain is in that regard creating a new
momentum for international cooperation. Increased
liquidity or seamless transactions require a legal
framework that is based on uniform transaction-
information systems (sale and purchase as well as
rental) and improved transparency with digital property-
passports. Different blockchain related organisations,
such as FIBREE, are now leading the effort to create a
decentralised infrastructure based on common standards
for interoperability. •
FIBREE INDUSTRY REPORT 2019
In Q3 2018, a working group was set up within FIBREE
with the aim of taking stock worldwide of the state of
blockchain in the real estate world and investigating what
the current challenges and best practices are, in order to
feed back the findings to the market. The working group
consisted of 13 FIBREE participants from 11 different
countries around the world, from Australia to the west
coast of the USA. It is FIBREE‘s intention to repeat this
survey annually in order to keep the market informed
about the latest developments in blockchain and real
estate worldwide.
The next introduction and description of the research
methodology used are followed by feedback on the main
findings of the research. The following topics are dealt with
successively: geographical spread of blockchain products
for the real estate market, year of incorporation and
growth phase, the real estate solutions with blockchain,
blockchain platforms used, challenges experienced by
blockchain startups and finally milestones and funding.
INTRODUCTION: NO BLOCKCHAIN WITHOUT
DIGITIZATION OF REAL ESTATE INFORMATION
A common misconception is that ‚real estate information‘
is stored in blockchain. In fact, no real estate information at
all will be stored in a blockchain, but a blockchain solution
in an existing information flow adds an extremely limited
amount of information in relevant places, making existing
information completely reliable for all stakeholders.
Blockchain alone can never be the solution to a problem,
it is at most, a relatively limited part of the entire digital
solution - a small, but an important part. Information
flows can be made far more efficient with it. This makes
it a business model enabler with the potential to add a lot
of value in processes where reliability of information is
important!
The State of Blockchain in Real Estate, 2019
11THE STATE OF BLOCKCHAIN IN REAL ESTATE, 2019
It is important that the data infrastructure is in order and
quality of data is at an acceptable level, because only then
blockchain will be able to really add value. Traditionally,
the real estate industry is not the most digitized industry.
The real estate life cycle generally extends over several
decades. In the various successive phases in the chain,
from design, through realization, use and management to
demolition or redevelopment, information is often kept
in silos. A lot of information is lost during the life cycle as
soon as the real estate in the chain moves from one link
to another. At the same time, it provides a revenue model
for several intermediaries in the existing real estate chain,
who find their work in tracing, updating or reproducing
missing information. These intermediaries therefore have
an interest in maintaining data silos. Better registration
and divisibility of digital information is to some extent
a threat to (part of) their current business operations.
At the same time, clients are familiar with the fact that
carrying out a real estate transaction involves relatively
high costs in order to put the information base in order.
However, the question is not whether, but when, re-
engineering such outdated processes will take place, since
digitization is a mega trend that is leading to new business
models in every industry. More and better information is
becoming available around us, making the maintenance of
information silos an untenable model.
In fact, the currently known ‚blockchain & real estate‘
producers are the first pioneers who see opportunities to
realize new forms of value creation with a decentralized
digital information infrastructure. These are best
practices from which the entire real estate industry can
learn a lot. These pioneers can also learn a great deal from
the specific complexities in many real estate processes. It
is therefore very interesting to analyze where the issues
and opportunities are seen from both sides and where
digitization, blockchain in particular, can add value. And
that is exactly what FIBREE has in mind and why it wants
FIBREE Survey by Jo Bronckers
to research and show the latest developments to the
market by means of an annually recurring Industry Report
for blockchain and real estate.
RESEARCH METHODOLOGY
The FIBREE Industry Report workgroup has collected
input in a number of ways in parallel to each other in order
to obtain the most complete possible picture of the status
of Blockchain for global real estate.
At the end of 2018, the working group started desk
research by its members in order to get an overview of
the different blockchain and real estate startups that
are currently known throughout the world. The input
to the research was derived from different sources; via
Linkedin and various specific blockchain-related listing
sites (ICO Bench, Crunchbase, etc.) where we searched
for blockchain products and services specific to the real
estate industry. As of December 31, 2018, 501 blockchain
and real estate initiatives have been found worldwide. This
has been defined as the product database. The population
that is the basis for further analyses in this study.
12 THE STATE OF BLOCKCHAIN IN REAL ESTATE, 2019
At the beginning of 2019, the working group used desk
research to make a first in-depth analysis of the total
product database based on the information that could
be found on the Internet. A useable email-address of
approximately 300 of these product-suppliers was
found, which was used to invite them to participate in the
FIBREE INDUSTRY REPORT 2019 13THE STATE OF BLOCKCHAIN IN REAL ESTATE, 2019
Consulted sources for composition of the
FIBREE product database
174Linkedin
29Other
169ICO Bench
Crunchbase
44
FIBREENetwork
39
Own inputfrom company
32
CV Competition
14
REIN
FIBREE-Survey that took place in April 2019. This survey
has resulted in first-hand input of 39 initiatives directly
from the company in question and is of sufficiently high
quality to be able to make validated further substantive
analyses. The quality of the information on the other
441 initiatives was insufficiently reliable for in-depth
substantive analyses, but it was sufficient, to be able to
make a few statistical analyses on it. The main insights
obtained are presented and described below.
GEOGRAPHICAL DISTRIBUTION
The 501 products or services found come from 66
different countries and from all continents of the world.
With a number of 235, most of the companies in the
database (47%) have their headquarters in Europe.
Latin America is the least represented with only 4% of all
products.
In itself, this does not say much about the geographical
markets the products are targeting, as many blockchain
products are targeting multinational or fully global
markets. Nor does this rough division show where in the
world the real ‚hotspots‘ are located or which countries
are at the forefront of the development of blockchain
products for the real estate industry.
Further analysis provides a top-10 of countries that are at
the forefront of the development of blockchain products
for real estate. The result of this top-10 is not really a
surprise. Perhaps the presence of Singapore, Switzerland,
the Netherlands and the United Arab Emirates is most
striking in this top-10, as they are relatively small
countries. However, their leading position is not surprising
from a blockchain perspective, since these countries have
been developing state-of-the-art digital infrastructure
and are well known for their open mindset towards
digital innovations. Additionally, each of these countries,
show strong support for their respective governments.
The Canton of Zug in Switzerland, for example, is known
throughout the world for its liberal approach to blockchain
on the part of its government infrastructure. This has
contributed to the fact that this region, which is often
called Crypto Valley, has been able to attract the largest
concentration of blockchain companies and investors in
the world.
When zooming in on the most important cities and regions,
it becomes clear that there is a limited but clear group of
‚blockchain & real estate capitals‘ in the world. London,
New York and Singapore share the top 3 positions,
which leads to the conclusion that these blockchain and
real estate capitals are equally spread around the world.
The graph below shows the top 22 cities on the basis
of the number of headquarters of blockchain and real
estate companies located there. This graph shows that
in addition to London, New York and Singapore, there
are several urban regions that can also be qualified
as ‚blockchain & real estate capital‘. Silicon Valley (the
Cities of San Francisco and San Jose combined) or the
aforementioned Crypto Valley in Switzerland (Zurich,
Zug and Baar together) are at almost the same level as
Singapore.
GROWTH PHASE OF PRODUCTS
Of the 501 companies surveyed, an attempt was made via
the various sources to find out the year of incorporation
and the current growth phase. For 27% it was not possible
to find out the year of incorporation and for 36% of these it
was not possible to find an indication of the growth phase.
In 363 cases it was possible to find both an indication of
the growth phase and the year of incorporation.
Rank 2019
CountryNumber of listed BC/RE-
product-supply
1 USA 124
2 UK 53
3 Singapore 28
4 Switzerland 27
5 Netherlands 26
6 Russia 23
7 Australia 19
8 UAE 17
9 Germany 17
10 Spain 15
235Europe
75
Asia &
30
Middle East & Africa
22
Latin America
139
North America
Geographical distribution of used
product database for research
Top 10 countries in used product database
Top 22 blockchain & real estate capitals in the world according to the used product database
0 5 10 15 20 25 30 35 40 45 50
Hong Kong
Paris
Vancouver
San Jose (Ca)
Zurich
Saint Petersburg
Madrid
Prague
Melbourne
Talinn
Berlin
Zug
Moscow
San Francisco (Ca)
Dubai
Singapore
New York (NY)
London
Los Angeles (Ca)
Gibraltar
Rotterdam
Amsterdam
etc.
Most startups are still very young. Only 21% of the
companies whose founding year is known, existed in
2017. It is therefore not surprising that more than half of
the startups are still in a seed or startup phase. There are
only 35 companies, 7% of which a growth phase could be
traced, that are in the growth or expansion phase. Only 6
of them (1%) seem to have reached the most advanced
stage of growth, the expansion phase. Almost all of these
are companies that already existed in 2016 and have
started to develop the blockchain solution as a by-product
or extension of the existing product.
14 THE STATE OF BLOCKCHAIN IN REAL ESTATE, 2019 FIBREE INDUSTRY REPORT 2019 15THE STATE OF BLOCKCHAIN IN REAL ESTATE, 2019
This analysis also shows that 119 (24%) of the 501
products found no longer seem to be active. In almost
half of the cases, the year of incorporation has not been
found either. Of the 365 products for which the year of
incorporation was found, an average of 16% are no longer
active. In addition, there are approximately 50 products
of which it was not possible to determine the growth
phase and the year in which they were founded. If about
half of these products were no longer active, almost 1 in
3 startups with blockchain products for the real estate
industry would cease their activities within a few years.
THE REAL ESTATE SOLUTIONS WITH BLOCKCHAIN
In 101 of the 501 blockchain products found, it was not
possible to determine with sufficient certainty via desk
research which problem or opportunity the product
specifically offers a solution. The 400 remaining products
that have been analysed together offer 493 solutions
to various problems and opportunities in the real estate
market. It becomes clear that for at least 26% of the
products, the solution in question focuses on more than
one problem or opportunity.
For example, it is often decided through tokenization to
develop a digital twin. Using MLS solutions, this digital twin
can be offered to potential buyers in a marketplace where
due diligence information and purchase documents can
be accessed and updated from the relevant information
sources in a completely reliable manner via blockchain. At
the time of purchase, information such as property and
financing registration can be directly linked to this, which
in turn can be the trigger for additional functionality.
Similarly, the token can also be used to give voting rights
to (partial) owners for major decisions regarding the
physical asset, or form the dynamic key that gives all
(partial) owners real-time access to all updates of relevant
information regarding their asset when updated.
Seed Stage
Start Up Stage
Growth Stage
Expansion Stage
Other
Seems discontinued
Unknown
Before2016
2016 2017 2018 Unknown
10
20
30
40
50
60
70
80
90
0
Blockchain products in database by year of incorporation and growth phase
Comparative overview of applied real estate solutions in used product database and in FIBREE survey
Product Database (n=400)
FIBREE Survey(n=39)
10%
20%
30%
40%
50%
60%
70%
0
Invest (Investment in Real Estate)
Market (e.g. listing of properties)
Data Exchange
Manage & Operate (e.g. facility / property management)
Technology Providing
Land title / Smart Cities (e.g. zoning, permits)
Plan & Build
Other
Of the 400 products found, 58% have a solution that
facilitates investment in real estate. Approximately 20%
of the products have a solution for a marketplace or data
exchange. Other solutions are available in 10% or less of
the products.
In order to analyse the solutions in greater depth,
the feedback obtained from the FIBREE-Survey of
39 products is used. The composition of the group of
products in the FIBREE-Survey differs slightly from the
composition of the product database. In the FIBREE-
Survey, there are fewer ‚Data-exchange‘ solutions and
no ‚Technology Providing‘ solutions. The ‘Market’ and
‘Manage & Operate’ categories, on the other hand, are
more represented in the FIBREE Survey than in the
product database.
The 25 products in the FIBREE-Survey that fall into the
‘Invest’ category have proven to be quite diverse when
analysed in greater depth. Most products are asset-
backed security tokens, There are also solutions for
financing project developments or facilitating flexible
ownership between renting or purchasing. The table
below gives a more detailed overview of the real estate
solutions provided by the 39 blockchain products from
the FIBREE-Survey.
16 THE STATE OF BLOCKCHAIN IN REAL ESTATE, 2019 FIBREE INDUSTRY REPORT 2019 17THE STATE OF BLOCKCHAIN IN REAL ESTATE, 2019
Half of the solutions in the FIBREE Survey use asset-
backed security tokens to enable real estate investments.
Approximately 20% are real estate data exchange
platforms or property management solutions. The rest
consist of a large variety of solutions, which shows how
widely applicable, in theory, blockchain use in the real
estate industry is possible.
Asset-backed securities use blockchain technology to
manage (partial) transactions of real estate properties or
portfolios and to track asset ownership. With tokens, a real
estate investment object or portfolio can be divided into
small fractions, making it possible to invest in small shares
of the asset as well. This is interesting for investors who
are looking for exposure to real estate in small amounts
or who are striving for a better spread of their real
estate investments in this way. Thanks to full automation,
transaction costs are kept relatively low, even in the case
of small investments.
Most solutions offer real estate companies a system
with tools and modules for creating, publishing, selling,
distributing, managing, tracking and trading tokenized
properties. Regulatory compliance is already ensured by
design in the case of professional solutions and can be
demonstrated via an audit report. The costs of marketing
are reduced compared to existing solutions and the
products offer the possibility to reach a wider potential
investor market while the administrative complexity
decreases. This can create extra value and liquidity for
real estate.
Real Estate Data-Exchange platforms include data
platforms where data about a real estate can be collected
from various sources and structured in accordance with
industry standards. It enables verification of the data by
(certified) professionals, with the principle of one-time
verification and multiple re-use being pursued. Recording
data at source and sharing data on a machine-2-machine
basis between applications to prevent manual data entry
and transfer should lead to a significant reduction in the
administrative burden. Existing solutions have been
developed to support due diligence processes or to
manage and secure data from IoT in the „Black Box“ of
smart buildings and infrastructures. Another example is a
solution that creates digital fingerprints of files that can be
accessed by third parties via an API or not, if not granted
access to it. In this way everyone can see that information
is present, but only those who have access via the API can
see the actual information.
Blockchain and additional techniques ensure that the
authenticity and content of data, for example, in data
rooms, can be guaranteed. Blockchain is sometimes also
applied in these data-exchange platforms to regulate data
privacy and compliance with data access policies.
Property management solutions are systems that
automate the administration, control and payment of
contractors and suppliers in the real estate sector, such
as cleaning staff, craftsmen and the like. These processes
are often decentralised but in the current set-up, they are
centrally administered and managed. Think of a platform
to enable direct processes such as communication,
service supply and charging. Sustainable building use
between landlord, property manager, tenants and
service providers including; real time and decentralized
administration of information and payment flows. One
could also think of a kind of CRM system intended for
Homeowner Associations and real estate management
organizations. Blockchain provides security, traceability
and transparency for the users and makes it possible
to achieve up to 70% administrative cost reduction
compared to current processes.
Other noteworthy applications include the possibility of
creating a unique digital address for each building, even
before the building is granted a real address, which can
then be used to store all the related information about
that building. Or a real estate marketplace where parties
can directly negotiate rental or purchase transactions,
including the administration of counter-proposals and
the closing of the transaction by the selected partie(s).
There are also reasonable basic solutions aimed at easy
digital coordination between owner and tenant. Think of
a solution to handle lease contracts completely digitally
and completely reliably. Or the aforementioned solution
in which the tenant facilitates the gradual acquisition of
property from a rental situation.
USED BLOCKCHAIN PLATFORMS
By far the most widely used blockchain platform is
Ethereum. No less than 90% of the 25 ‚Investment‘
solutions say they use Ethereum. Bitcoin and Hyperledger
follow as the second and third most used platforms. A
small percentage indicated that they use proprietary
distributed ledger technology. Out of 39 products,
23% say they use multiple blockchain platforms in their
solution.
The reason for choosing Ethereum is that the ERC20
standard is generally the most widely used tokenization
standard. This will have great advantages in the long
run when the market for tradable tokens becomes more
mature, because ERC20 tokens are expected to be the
most widely used standard and therefore the largest
group of investors can be reached. The combination of
ERC20 tokens and the Solidity programming language
is also appreciated for its easy applicability to smart
contracts. Finally, it is stated that Ethereum was chosen
because the use of a different protocol that has yet to
prove itself, is seen as an extra risk that one tries to avoid
as a startup.
The reasons for choosing to use the Bitcoin platform
include its robustness and widespread adoption and
industry standards.
Hyperledger is chosen as soon as a semi-public or fully
authorized network solution is required. Hyperledger
Fabric provides an easily applicable modular solution in an
enterprise environment that is widely used in the market.
Asset backed security tokens 20
Real Estate data exchange platform 4
Property Management 4
Location Intelligence 2
MLS 2
Transactions 2
Contract life cycles 1
Flexible ownership 1
Development financing 1
Land registry 1
Audit trail for data 1
Result of an in-depth analysis of the real estate solu-tions in FIBREE-Survey
Used blockchain platforms in
FIBREE Survey
56Ethereum
10
Bitcoin
6
Hyperledger
8
Own DLT
20
Other
Reasons given for choosing other blockchain platforms
relate to the cost and speed of transactions, the desired
functionalities that better meet the specific requirements
of real estate tokenization, the consensus protocol used,
or because of specific requirements with regard to
information anonymity.
CHALLENGES FOR BLOCKCHAIN START-UPS
In the development of blockchain products for the real
estate market, almost every initiative is faced with several
challenges. In the FIBREE survey, participants were asked
about the challenges they face. The 39 participants indicate
a total of 46 challenges. Compliance with regulations,
timing for adoption in the market, finding funding or
development partners(,) and knowledge development in
the market are the most frequently mentioned challenges
and are all mentioned approximately as often (all between
21% and 25%).
18 THE STATE OF BLOCKCHAIN IN REAL ESTATE, 2019 FIBREE INDUSTRY REPORT 2019 19THE STATE OF BLOCKCHAIN IN REAL ESTATE, 2019
Differentiating the various challenges according to the
solution that is being achieved will make it possible to
identify more precisely the challenges that arise and
where they arise.
Regulatory compliance appears to be of particular
importance in the case of ‚Invest‘ and ‚Market‘ solutions.
In the case of the other solutions, it appears that there is
little to be gained from compliance with regulations.
Challenges regarding ‘Market education’ and ‘Fundraising/
development partners’ seem to go hand in hand and are
widely identified in ‘Manage & Operate’, ‘Market’, ‘Invest’,
and ‘Land Title/Smart Cities’ solutions.
Challenges on how to ‘apply Distributed Ledger
Technology’ exactly in the solution are most common with
‘Land Title/Smart Cities’ solutions and to a greater extent
with ‘Market’ and ‘Invest’ solutions.
Finally, ‘Performance’ related challenges are relatively
most common in ‘Manage and Operate’ solutions.
MILESTONES AND FUNDING
As a final part of the FIBREE Survey, participants were
asked about the most important milestones achieved so
far and the way in which their company is funded. The
results confirm once again that the development and
application of blockchain solutions in the real estate
industry is only just beginning, as only a limited number
of product providers have ample funding resources for
further product development. Of the 39 participants
in the FIBREE survey, 23% do not give an indication of
the funding they have received so far. With 36% of the
answers, the majority of the participants say they have
less than USD 200,000 in funding. Another 18% say
they have between USD 200k and USD 1 million. The
remaining 23% replied that they have more than USD 1
million in funding.
When asked about the origin of the funding, 53% indicated
that it came from their own sources. 28% indicated that
funding comes from investment firms and/or private
equity. It is striking that only 10% of the real estate
blockchain-products in the study made only limited use of
ICOs. Friends and family also have a limited share in the
origin of funding at 8%.
It is also striking that no fewer than 12 of the 14 companies
with less than USD 200k in funding have indicated that
they have been financed exclusively from their own
sources. The opposite picture can be seen in companies
with more than USD 1 million in funding. Of these all but
one indicate that they have several sources of funding,
Other
Plan & Build
Data Exchange
Land title / Smart Cities (e.g. zoning, permits)
Manage & Operate (e.g. facility / property management
Market (e.g. listing of properties)
Invest (Investment in real estate)
30%25%20%15%10%5%0%
Timing / Market adoption
Apply to regulations
How to deploy DLT
Market education
Performance
Other
Fundraising / Development partners
Overview of experienced challenges in the different blockchain solutions for real estate
> USD 1 Million
< USD 1 Million
< USD 200.000
Noanswer
10%
15%
5%
20%
25%
30%
35%
40%
0
Funding of participants FIBREE-Survey
including at least investment firms and/or private equity.
Only one organization with more than 1 million in funding
indicates that it is exclusively funded by friends and family.
Origin of funding for FIBREE Survey participants
Ownsources
Invest-
private equity
ICOFirends
and Family
None
20%
30%
10%
40%
50%
60%
0
As regards to the key milestones achieved so far, the
participants have responded in a variety of ways. The
answers to this question gives a good indication of the
current status of blockchain solutions for the real estate
market. From the responses received, it can be cautiously
concluded that less than half of the products say they
are ready for actual use in the market. The big question
remains to what extent they are applicable. If they are
applied at all, they are only in their first beta versions or
being used on a small scale. Most products are still in a
PoC phase. The figure below illustrates this. •
Main milestones achieved according to participants in FIBREE Survey
None
Development partner found
First mover in the market
Winning of awards
Steady growth of user base for product
Completion of funding round(s)
MVP ready
First market application
0% 5% 10% 15% 20% 25% 30% 35%
The data for the FIBREE country report has been aggregated by the regional chairs of the specific country based on their knowledge of the industry. This data has no claim to be representative, but should give an indication of where the current state of the industry is.
20 GLOBAL NETWORK
GLOBAL NETWORK
Canada
Brazil
USA
Chile
FIBREE INDUSTRY REPORT 2019 21GLOBAL NETWORK
India
United Arab Emirates
Kenya
Hungary
Georgia
Taiwan
Russia
Spain
Australia
Switzerland
Israel
Italy
Slovenia
Croatia
Belgium
UK
Netherlands
Germany
Poland
Austria
22 AUSTRALIA FIBREE INDUSTRY REPORT 2019 23AUSTRALIA
Level of engagement with blockchain
12345
LowSlightly engaged
MediumMostly engaged
High
Locations
Use of blockchain in real estate
MelbourneSagar Brahmbhatt
Agnes WaterGordon Christian
GARTNER HYPE CYCLE
REGIONAL CHAIRS
AUSTRALIA
Melbourne
Agnes Water
COUNTRY MAP REAL ESTATE SECTOR
1
2
3
4
5
Pla
n a
nd
Bu
ild
Manage and Opera
te
Market
Next C
ity Solutions
Bui
ldin
g Te
chno
logi
es
Invest and Finance
Research and Valuate
Time
Exp
ecta
tio
ns
Inn
ovat
ion
Tri
gger
Exp
ecta
tio
ns
Tro
ugh
of
Dis
illu
sio
nm
ent
Slo
pe
of
En
ligh
ten
men
t
Pla
teau
of
Pro
du
ctiv
ity
Overall activity in blockchain & real estate
Canberra
English
25.324.713
CAPITAL
LANGUAGE
POPULATION
CURRENCY
GROSS DOMESTIC PRODUCT
Australian Dollar
$1.500 trillion
FIBREE FACTS
COUNTRY FACTS
First chapter established: 12/2018
Source: Wikipedia
Get in touch:
2,5%
Government cilbuPAuthorities
10%
Corporate>200employees
10%
SME<200employees
77,5Start-Ups
SECTOR ACTIVITY
SIZE OF COMMUNITY
CONTACT
for blockchain applications
Ethereum»
MOST USED TECHNOLOGY
for blockchain & real estate
Konkrete
BuildSort
House Coin Australia
1.
2.
3.
MOST PROMISSING STARTUPS
<50 <100 <500 <1000 >1000
How far is the country moving from paper-based
business to a digital economy in the real estate industry?
ANALOG TO DIGITAL
Still mostly paperbased
Partly digital, but mostly
paperbased
Mostlydigital
100%digital
Activity in blockchain &
real estate
24 AUSTRIA FIBREE INDUSTRY REPORT 2019 25AUSTRIA
Level of engagement with blockchain
12345
LowSlightly engaged
MediumMostly engaged
High
Locations
Use of blockchain in real estate
ViennaFlorian Huber
ViennaDominik Alphart
GrazWalter Strametz
GARTNER HYPE CYCLE
REGIONAL CHAIRS
AUSTRIA
Graz
Vienna
COUNTRY MAP REAL ESTATE SECTOR
1
2
3
4
5
Pla
n a
nd
Bu
ild
Manage and Opera
te
Market
Next C
ity Solutions
Bui
ldin
g Te
chno
logi
es
Invest and Finance
Research and Valuate
Time
Exp
ecta
tio
ns
Inn
ovat
ion
Tri
gger
Exp
ecta
tio
ns
Tro
ugh
of
Dis
illu
sio
nm
ent
Slo
pe
of
En
ligh
ten
men
t
Pla
teau
of
Pro
du
ctiv
ity
Overall activity in blockchain & real estate
Vienna
German
8.858.775
CAPITAL
LANGUAGE
POPULATION
CURRENCY
GROSS DOMESTIC PRODUCT
Euro
$477.672 billion
FIBREE FACTS
COUNTRY FACTS
First chapter established: 07/2018
Get in touch:
52,5%
Start-Ups
14%
Corporate>200 employees
15,5%
GovernmentPublicauthorities
18%
SME<200 employees
SECTOR ACTIVITY
SIZE OF COMMUNITY
CONTACT
for blockchain applications
Ethereum»
MOST USED TECHNOLOGY
for blockchain & real estate
Realest8/ Avinoc
Salamantex
Conda
1.
2.
3.
MOST PROMISSING STARTUPS
<50 <100 <500 <1000 >1000
How far is the country moving from paper-based
business to a digital economy in the real estate industry?
ANALOG TO DIGITAL
Still mostly paperbased
Partly digital, but mostly
paperbased
Mostlydigital
100%digital
Activity in blockchain &
real estate
Source: Wikipedia
26 BELGIUM FIBREE INDUSTRY REPORT 2019 27BELGIUM
Level of engagement with blockchain
12345
LowSlightly engaged
MediumMostly engaged
High
Locations
Use of blockchain in real estate
BrusselsAlexander Appelmans
GARTNER HYPE CYCLE
REGIONAL CHAIRS
BELGIUM
Brussels
COUNTRY MAP REAL ESTATE SECTOR
1
2
3
4
5
Pla
n a
nd
Bu
ild
Manage and Opera
te
Market
Next C
ity Solutions
Bui
ldin
g Te
chno
logi
es
Invest and Finance
Research and Valuate
Time
Exp
ecta
tio
ns
Inn
ovat
ion
Tri
gger
Exp
ecta
tio
ns
Tro
ugh
of
Dis
illu
sio
nm
ent
Slo
pe
of
En
ligh
ten
men
t
Pla
teau
of
Pro
du
ctiv
ity
Overall activity in blockchain & real estate
Brussels
Dutch, French & German
11,420,163
CAPITAL
LANGUAGE
POPULATION
CURRENCY
GROSS DOMESTIC PRODUCT
Euro
$533 billion
FIBREE FACTS
COUNTRY FACTS
First chapter established: 03/2019
Get in touch:
50%
GovernmentPublic authorities
14%
SME<200 employees
20 %
Start-Ups
25%
Corporate>200 employees
SECTOR ACTIVITY
SIZE OF COMMUNITY
CONTACT
for blockchain applications
Hyperledger»
MOST USED TECHNOLOGY
for blockchain & real estate
The Ledger
Estate Share
Settle Mint
1.
2.
3.
MOST PROMISSING STARTUPS
<50 <100 <500 <1000 >1000
How far is the country moving from paper-based
business to a digital economy in the real estate industry?
ANALOG TO DIGITAL
Still mostly paperbased
Partly digital, but mostly
paperbased
Mostlydigital
100%digital
Activity in blockchain &
real estate
Source: Wikipedia
28 BRAZIL FIBREE INDUSTRY REPORT 2019 29BRAZIL
Level of engagement with blockchain
12345
LowSlightly engaged
MediumMostly engaged
High
Locations
Use of blockchain in real estate
São PauloRafael Stocco
GARTNER HYPE CYCLE
REGIONAL CHAIRS
BRAZIL
COUNTRY MAP REAL ESTATE SECTOR
1
2
3
4
5
Pla
n a
nd
Bu
ild
Manage and Opera
te
Market
Next C
ity Solutions
Bui
ldin
g Te
chno
logi
es
Invest and Finance
Research and Valuate
Time
Exp
ecta
tio
ns
Inn
ovat
ion
Tri
gger
Exp
ecta
tio
ns
Tro
ugh
of
Dis
illu
sio
nm
ent
Slo
pe
of
En
ligh
ten
men
t
Pla
teau
of
Pro
du
ctiv
ity
Overall activity in blockchain & real estate
Brasília
Portuguese
210,147,125
CAPITAL
LANGUAGE
POPULATION
CURRENCY
GROSS DOMESTIC PRODUCT
Real
$1.960 trillion
FIBREE FACTS
COUNTRY FACTS
First chapter established: 11/2018
Get in touch:
5%
Governmentpublic authorities
5%
Corporate>200 employees
10%
SME<200employees
80%
Start-Ups
SECTOR ACTIVITY
SIZE OF COMMUNITY
CONTACT
for blockchain applications
Hyperledger»
MOST USED TECHNOLOGY
for blockchain & real estate
-
-
-
1.
2.
3.
MOST PROMISSING STARTUPS
<50 <100 <500 <1000 >1000
How far is the country moving from paper-based
business to a digital economy in the real estate industry?
ANALOG TO DIGITAL
Still mostly paperbased
Partly digital, but mostly
paperbased
Mostlydigital
100%digital
Activity in blockchain &
real estate
Source: Wikipedia
São Paulo
30 CANADA FIBREE INDUSTRY REPORT 2019 31CANADA
Level of engagement with blockchain
12345
LowSlightly engaged
MediumMostly engaged
High
Locations
Use of blockchain in real estate
CalgaryCody Weiss
GARTNER HYPE CYCLE
REGIONAL CHAIRS
CANADA
Calgary
COUNTRY MAP REAL ESTATE SECTOR
1
2
3
4
5
Pla
n a
nd
Bu
ild
Manage and Opera
te
Market
Next C
ity Solutions
Bui
ldin
g Te
chno
logi
es
Invest and Finance
Research and Valuate
Time
Exp
ecta
tio
ns
Inn
ovat
ion
Trig
ger
Exp
ecta
tio
ns
Tro
ugh
of
Dis
illu
sio
nm
ent
Slo
pe
of
En
ligh
ten
men
t
Pla
teau
of
Pro
du
ctiv
ity
Overall activity in blockchain & real estate
Ottawa
English, French
37,314,442
CAPITAL
LANGUAGE
POPULATION
CURRENCY
GROSS DOMESTIC PRODUCT
Canadian Dollar
$1.820 trillion
FIBREE FACTS
COUNTRY FACTS
First chapter established: 03/2019
Get in touch:
33,3%
Start-Ups
19,1%
Corporate>200 employees
19,1%
GovernmentPublicauthorities 28,5%
SME<200 employees
SECTOR ACTIVITY
SIZE OF COMMUNITY
CONTACT
for blockchain applications
Ethereum»
MOST USED TECHNOLOGY
for blockchain & real estate
Reitium
-
-
1.
2.
3.
MOST PROMISSING STARTUPS
<50 <100 <500 <1000 >1000
How far is the country moving from paper-based
business to a digital economy in the real estate industry?
ANALOG TO DIGITAL
Still mostly paperbased
Partly digital, but mostly
paperbased
Mostlydigital
100%digital
Activity in blockchain &
real estate
Source: Wikipedia
32 CHILE FIBREE INDUSTRY REPORT 2019 33CHILE
Santiago
Level of engagement with blockchain
12345
LowSlightly engaged
MediumMostly engaged
High
Locations
Use of blockchain in real estate
SantiagoNathan Wosnack
GARTNER HYPE CYCLE
REGIONAL CHAIRS
CHILE
COUNTRY MAP REAL ESTATE SECTOR
1
2
3
4
5
Pla
n a
nd
Bu
ild
Manage and Opera
te
Market
Next C
ity Solutions
Bui
ldin
g Te
chno
logi
es
Invest and Finance
Research and Valuate
Time
Exp
ecta
tio
ns
Inn
ovat
ion
Tri
gger
Exp
ecta
tio
ns
Tro
ugh
of
Dis
illu
sio
nm
ent
Slo
pe
of
En
ligh
ten
men
t
Pla
teau
of
Pro
du
ctiv
ity
Overall activity in blockchain & real estate
Santiago
Spanish
17,574,003
CAPITAL
LANGUAGE
POPULATION
CURRENCY
GROSS DOMESTIC PRODUCT
Peso
$305 billion
FIBREE FACTS
COUNTRY FACTS
First chapter established: 01/2019
Get in touch:
60%
Start-Ups
10%
Corporate>200 employees
10%
GovernmentPublicauthorities
20 %
SME<200 employees
SECTOR ACTIVITY
SIZE OF COMMUNITY
CONTACT
for blockchain applications
Bitcoin»
MOST USED TECHNOLOGY
for blockchain & real estate
-
-
-
1.
2.
3.
MOST PROMISSING STARTUPS
<50 <100 <500 <1000 >1000
How far is the country moving from paper-based
business to a digital economy in the real estate industry?
ANALOG TO DIGITAL
Still mostly paperbased
Partly digital, but mostly
paperbased
Mostlydigital
100%digital
Activity in blockchain &
real estate
Source: Wikipedia
34 CROATIA FIBREE INDUSTRY REPORT 2019 35CROATIA
Level of engagement with blockchain
12345
LowSlightly engaged
MediumMostly engaged
High
Locations
Use of blockchain in real estate
ZagrebTomica Cesar
GARTNER HYPE CYCLE
REGIONAL CHAIRS
CROATIA
Zagreb
COUNTRY MAP REAL ESTATE SECTOR
1
2
3
4
5
Pla
n a
nd
Bu
ild
Manage and Opera
te
Market
Next C
ity Solutions
Bui
ldin
g Te
chno
logi
es
Invest and Finance
Research and Valuate
Time
Exp
ecta
tio
ns
Inn
ovat
ion
Tri
gger
Exp
ecta
tio
ns
Tro
ugh
of
Dis
illu
sio
nm
ent
Slo
pe
of
En
ligh
ten
men
t
Pla
teau
of
Pro
du
ctiv
ity
Overall activity in blockchain & real estate
Zagreb
Croatian
4,154,200
CAPITAL
LANGUAGE
POPULATION
CURRENCY
GROSS DOMESTIC PRODUCT
Kuna
$61.586 billion
FIBREE FACTS
COUNTRY FACTS
First chapter established: 07/2018
Get in touch:
3%
SME>200 employees
7%
Start-Ups
20 %
Corporate>200employees
70%
GovernmentPublic authorities
SECTOR ACTIVITY
SIZE OF COMMUNITY
CONTACT
for blockchain applications
Ethereum»
MOST USED TECHNOLOGY
for blockchain & real estate
-
-
-
1.
2.
3.
MOST PROMISSING STARTUPS
<50 <100 <500 <1000 >1000
How far is the country moving from paper-based
business to a digital economy in the real estate industry?
ANALOG TO DIGITAL
Still mostly paperbased
Partly digital, but mostly
paperbased
Mostlydigital
100%digital
Activity in blockchain &
real estate
Source: Wikipedia
36 GEORGIA FIBREE INDUSTRY REPORT 2019 37GEORGIA
Level of engagement with blockchain
12345
LowSlightly engaged
MediumMostly engaged
High
Locations
Use of blockchain in real estate
TibilisiMariam Turashvili
GARTNER HYPE CYCLE
REGIONAL CHAIRS
GEORGIA
Tibilisi
COUNTRY MAP REAL ESTATE SECTOR
1
2
3
4
5
Pla
n a
nd
Bu
ild
Manage and Opera
te
Market
Next C
ity Solutions
Bui
ldin
g Te
chno
logi
es
Invest and Finance
Research and Valuate
Time
Exp
ecta
tio
ns
Inn
ovat
ion
Tri
gger
Exp
ecta
tio
ns
Tro
ugh
of
Dis
illu
sio
nm
ent
Slo
pe
of
En
ligh
ten
men
t
Pla
teau
of
Pro
du
ctiv
ity
Overall activity in blockchain & real estate
Tbilisi
Georgian, Abkhazian
3,723,500
CAPITAL
LANGUAGE
POPULATION
CURRENCY
GROSS DOMESTIC PRODUCT
Georgian Lari
$17.836 billion
FIBREE FACTS
COUNTRY FACTS
First chapter established: 07/2018
Get in touch:
10%
SME<200 employees
70%
GovernmentPublic authorities
10%
Corporate>200employees
10%
Start-Ups
SECTOR ACTIVITY
SIZE OF COMMUNITY
CONTACT
for blockchain applications
Bitcoin»
MOST USED TECHNOLOGY
for blockchain & real estate
-
-
-
1.
2.
3.
MOST PROMISSING STARTUPS
<50 <100 <500 <1000 >1000
How far is the country moving from paper-based
business to a digital economy in the real estate industry?
ANALOG TO DIGITAL
Still mostly paperbased
Partly digital, but mostly
paperbased
Mostlydigital
100%digital
Activity in blockchain &
real estate
Source: Wikipedia
38 GERMANY FIBREE INDUSTRY REPORT 2019 39GERMANY
Level of engagement with blockchain
12345
LowSlightly engaged
MediumMostly engaged
High
Locations
Use of blockchain in real estate
BerlinAchim Jedelsky
HamburgMarc Driessen
Coordinator GermanyAxel von Goldbeck
RegensburgSandor Horvath
FrankfurtRoland Farhat
StuttgartFabian Süß
HamburgPaul Huelsmann
StuttgartSebastian Steimer
GARTNER HYPE CYCLE
REGIONAL CHAIRS
GERMANY
Berlin
Hamburg
StuttgartRegensburg
Frankfurt
COUNTRY MAP REAL ESTATE SECTOR
1
2
3
4
5
Pla
n a
nd
Bu
ild
Manage and Opera
te
Market
Next C
ity Solutions
Bui
ldin
g Te
chno
logi
es
Invest and Finance
Research and Valuate
Time
Exp
ecta
tio
ns
Inn
ova
tio
nT
rigg
er
Exp
ecta
tio
ns
Tro
ugh
of
Dis
illu
sio
nm
ent
Slo
pe
of
En
ligh
ten
men
t
Pla
teau
of
Pro
du
ctiv
ity
Overall activity in blockchain & real estate
Berlin
German
83.000.000
CAPITAL
LANGUAGE
POPULATION
CURRENCY
GROSS DOMESTIC PRODUCT
Euro
$4.117 trillion
FIBREE FACTS
COUNTRY FACTS
First chapter established: 07/2018
Get in touch:
43,5%
Start-Ups
14,2%
GovernmentPublicauthorities
16,3%
SME<200employees
26%
Corporate>200 employees
SECTOR ACTIVITY
SIZE OF COMMUNITY
CONTACT
for blockchain applications
Ethereum»
MOST USED TECHNOLOGY
for blockchain & real estate
Brickblock
Brickmark
Finexity AG
1.
2.
3.
MOST PROMISSING STARTUPS
<50 <100 <500 <1000 >1000
How far is the country moving from paper-based
business to a digital economy in the real estate industry?
ANALOG TO DIGITAL
Still mostly paperbased
Partly digital, but mostly
paperbased
Mostlydigital
100%digital
Activity in blockchain &
real estate
Source: Wikipedia
40 HUNGARY FIBREE INDUSTRY REPORT 2019 41HUNGARY
Level of engagement with blockchain
12345
LowSlightly engaged
MediumMostly engaged
High
Locations
Use of blockchain in real estate
BudapestKornel Kalocsai
GARTNER HYPE CYCLE
REGIONAL CHAIRS
HUNGARY
Budapest
COUNTRY MAP REAL ESTATE SECTOR
1
2
3
4
5
Pla
n a
nd
Bu
ild
Manage and Opera
te
Market
Next C
ity Solutions
Bui
ldin
g Te
chno
logi
es
Invest and Finance
Research and Valuate
Time
Exp
ecta
tio
ns
Inn
ovat
ion
Tri
gger
Exp
ecta
tio
ns
Tro
ugh
of
Dis
illu
sio
nm
ent
Slo
pe
of
En
ligh
ten
men
t
Pla
teau
of
Pro
du
ctiv
ity
Overall activity in blockchain & real estate
Budapest
Hungarian
9,797,561
CAPITAL
LANGUAGE
POPULATION
CURRENCY
GROSS DOMESTIC PRODUCT
Forint
$164.527 billion
FIBREE FACTS
COUNTRY FACTS
First chapter established: 05/2019
Get in touch:
52,5%
Start-Ups
14%
Corporate>200 employees
15,5%
GovernmentPublicauthorities
18%
SME<200 employees
SECTOR ACTIVITY
SIZE OF COMMUNITY
CONTACT
for blockchain applications
Ethereum»
MOST USED TECHNOLOGY
for blockchain & real estate
SmartDeposit
WarrantIQ
-
1.
2.
3.
MOST PROMISSING STARTUPS
<50 <100 <500 <1000 >1000
How far is the country moving from paper-based
business to a digital economy in the real estate industry?
ANALOG TO DIGITAL
Still mostly paperbased
Partly digital, but mostly
paperbased
Mostlydigital
100%digital
Activity in blockchain &
real estate
Source: Wikipedia
42 INDIA FIBREE INDUSTRY REPORT 2019 43INDIA
Level of engagement with blockchain
12345
LowSlightly engaged
MediumMostly engaged
High
Locations
Use of blockchain in real estate
BangaloreRajesh Dsouza
KolkataArnab Paul
GARTNER HYPE CYCLE
REGIONAL CHAIRS
INDIA
COUNTRY MAP REAL ESTATE SECTOR
1
2
3
4
5
Pla
n a
nd
Bu
ild
Manage and Opera
te
Market
Next C
ity Solutions
Bui
ldin
g Te
chno
logi
es
Invest and Finance
Research and Valuate
Time
Exp
ecta
tio
ns
Inn
ovat
ion
Tri
gger
Exp
ecta
tio
ns
Tro
ugh
of
Dis
illu
sio
nm
ent
Slo
pe
of
En
ligh
ten
men
t
Pla
teau
of
Pro
du
ctiv
ity
Overall activity in blockchain & real estate
New Delhi
Hindi, English
1,324,171,354
CAPITAL
LANGUAGE
POPULATION
CURRENCY
GROSS DOMESTIC PRODUCT
Indian Rupee
$2.971 trillion
FIBREE FACTS
COUNTRY FACTS
First chapter established: 10/2018
Get in touch:
35%
Start-Ups
15%
Government public authorities
20 %
Corporate>200employees
30 %
SME<200 employees
SECTOR ACTIVITY
SIZE OF COMMUNITY
CONTACT
for blockchain applications
Bitcoin»
MOST USED TECHNOLOGY
for blockchain & real estate
PropertyShare
RealX
Blockchain Developments.io
1.
2.
3.
MOST PROMISSING STARTUPS
<50 <100 <500 <1000 >1000
How far is the country moving from paper-based
business to a digital economy in the real estate industry?
ANALOG TO DIGITAL
Still mostly paperbased
Partly digital, but mostly
paperbased
Mostlydigital
100%digital
Activity in blockchain &
real estate
Source: Wikipedia
Kolkata
Bangalore
44 ISRAEL FIBREE INDUSTRY REPORT 2019 45ISRAEL
Level of engagement with blockchain
12345
LowSlightly engaged
MediumMostly engaged
High
Locations
Use of blockchain in real estate
Tel AvivOr Perelman
Tel AvivYael Tamar
Tel AvivIdo Shacham
GARTNER HYPE CYCLE
REGIONAL CHAIRS
ISRAEL
Tel Aviv
COUNTRY MAP REAL ESTATE SECTOR
1
2
3
4
5
Pla
n a
nd
Bu
ild
Manage and Opera
te
Market
Next C
ity Solutions
Bui
ldin
g Te
chno
logi
es
Invest and Finance
Research and Valuate
Time
Exp
ecta
tio
ns
Inn
ovat
ion
Tri
gger
Exp
ecta
tio
ns
Tro
ugh
of
Dis
illu
sio
nm
ent
Slo
pe
of
En
ligh
ten
men
t
Pla
teau
of
Pro
du
ctiv
ity
Overall activity in blockchain & real estate
Jerusalem
Hebrew
9,044,440
CAPITAL
LANGUAGE
POPULATION
CURRENCY
GROSS DOMESTIC PRODUCT
New Shekel
$390.656 billion
FIBREE FACTS
COUNTRY FACTS
First chapter established: 08/2018
Get in touch:
57,5%
Start-Ups
7,5%
GovernmentPublicauthorities
15%
Corporate>200employees
20 %
SME<200 employees
SECTOR ACTIVITY
SIZE OF COMMUNITY
CONTACT
for blockchain applications
Ethereum»
MOST USED TECHNOLOGY
for blockchain & real estate
Solidblock
Chromaway
Agora
1.
2.
3.
MOST PROMISSING STARTUPS
<50 <100 <500 <1000 >1000
How far is the country moving from paper-based
business to a digital economy in the real estate industry?
ANALOG TO DIGITAL
Still mostly paperbased
Partly digital, but mostly
paperbased
Mostlydigital
100%digital
Activity in blockchain &
real estate
Source: Wikipedia
46 ITALY FIBREE INDUSTRY REPORT 2019 47ITALY
Level of engagement with blockchain
12345
LowSlightly engaged
MediumMostly engaged
High
Locations
Use of blockchain in real estate
MilanoAlex dell Orto
MilanoFrancesco Filippo Bruno
MilanoEmanuele Rizzardi
RomePatrizia Giannini
GARTNER HYPE CYCLE
REGIONAL CHAIRS
ITALY
COUNTRY MAP REAL ESTATE SECTOR
1
2
3
4
5
Pla
n a
nd
Bu
ild
Manage and Opera
te
Market
Next C
ity Solutions
Bui
ldin
g Te
chno
logi
es
Invest and Finance
Research and Valuate
Time
Exp
ecta
tio
ns
Inn
ovat
ion
Tri
gger
Exp
ecta
tio
ns
Tro
ugh
of
Dis
illu
sio
nm
ent
Slo
pe
of
En
ligh
ten
men
t
Pla
teau
of
Pro
du
ctiv
ity
Overall activity in blockchain & real estate
Rome
Italian
60,483,973
CAPITAL
LANGUAGE
POPULATION
CURRENCY
GROSS DOMESTIC PRODUCT
Euro
$2.026 trillion
FIBREE FACTS
COUNTRY FACTS
First chapter established: 07/2018
Get in touch:
66,7%
Start-Ups
9,3%
GovernmentPublicauthorities
11,7%
SME<200employees
12,3%
Corporate>200 employees
SECTOR ACTIVITY
SIZE OF COMMUNITY
CONTACT
for blockchain applications
Bitcoin»
MOST USED TECHNOLOGY
for blockchain & real estate
Walliance
Mangrovia
Casavo
1.
2.
3.
MOST PROMISSING STARTUPS
<50 <100 <500 <1000 >1000
How far is the country moving from paper-based
business to a digital economy in the real estate industry?
ANALOG TO DIGITAL
Still mostly paperbased
Partly digital, but mostly
paperbased
Mostlydigital
100%digital
Activity in blockchain &
real estate
Source: Wikipedia
Milano
Rome
48 KENYA FIBREE INDUSTRY REPORT 2019 49KENYA
Level of engagement with blockchain
12345
LowSlightly engaged
MediumMostly engaged
High
Locations
Use of blockchain in real estate
NairobiSamuel Ouko
GARTNER HYPE CYCLE
REGIONAL CHAIRS
KENYA
Nairobi
COUNTRY MAP REAL ESTATE SECTOR
1
2
3
4
5
Pla
n a
nd
Bu
ild
Manage and Opera
te
Market
Next C
ity Solutions
Bui
ldin
g Te
chno
logi
es
Invest and Finance
Research and Valuate
Time
Exp
ecta
tio
ns
Inn
ovat
ion
Tri
gger
Exp
ecta
tio
ns
Tro
ugh
of
Dis
illu
sio
nm
ent
Slo
pe
of
En
ligh
ten
men
t
Pla
teau
of
Pro
du
ctiv
ity
Overall activity in blockchain & real estate
Nairobi
English, Swahili
49,364,325
CAPITAL
LANGUAGE
POPULATION
CURRENCY
GROSS DOMESTIC PRODUCT
Kenyan Shilling
$99.246 billion
FIBREE FACTS
COUNTRY FACTS
First chapter established: 01/2019
Get in touch:
5%
SME<200 employees
10%
Corporate>200 employees
25%
GovernmentPublicauthorities 60%
Start-Ups
SECTOR ACTIVITY
SIZE OF COMMUNITY
CONTACT
for blockchain applications
Bitcoin»
MOST USED TECHNOLOGY
for blockchain & real estate
-
-
-
1.
2.
3.
MOST PROMISSING STARTUPS
<50 <100 <500 <1000 >1000
How far is the country moving from paper-based
business to a digital economy in the real estate industry?
ANALOG TO DIGITAL
Still mostly paperbased
Partly digital, but mostly
paperbased
Mostlydigital
100%digital
Activity in blockchain &
real estate
Source: Wikipedia
50 NETHERLANDS FIBREE INDUSTRY REPORT 2019 51NETHERLANDS
Level of engagement with blockchain
12345
LowSlightly engaged
MediumMostly engaged
High
Locations
Use of blockchain in real estate
AmsterdamJo Bronckers
EnschedeJan Veuger
GARTNER HYPE CYCLE
REGIONAL CHAIRS
NETHERLANDS
Amsterdam
Enschede
COUNTRY MAP REAL ESTATE SECTOR
1
2
3
4
5
Pla
n a
nd
Bu
ild
Manage and Opera
te
Market
Next C
ity Solutions
Bui
ldin
g Te
chno
logi
es
Invest and Finance
Research and Valuate
Time
Exp
ecta
tio
ns
Inn
ovat
ion
Tri
gger
Exp
ecta
tio
ns
Tro
ugh
of
Dis
illu
sio
nm
ent
Slo
pe
of
En
ligh
ten
men
t
Pla
teau
of
Pro
du
ctiv
ity
Overall activity in blockchain & real estate
Amsterdam
Dutch
17.261.622
CAPITAL
LANGUAGE
POPULATION
CURRENCY
GROSS DOMESTIC PRODUCT
Euro
$914 billion
FIBREE FACTS
COUNTRY FACTS
First chapter established: 07/2018
Working group: Unique property identinty
Get in touch:
35%
Government cilbuPAuthorities
24,5%
Start-Ups
11,5%
SME<200 employees
29%
Corporate>200 employees
SECTOR ACTIVITY
SIZE OF COMMUNITY
CONTACT
for blockchain applications
Ethereum»
MOST USED TECHNOLOGY
for blockchain & real estate
Axiom (Deloitte)
Loek!
Legal Things One
1.
2.
3.
MOST PROMISSING STARTUPS
<50 <100 <500 <1000 >1000
How far is the country moving from paper-based
business to a digital economy in the real estate industry?
ANALOG TO DIGITAL
Still mostly paperbased
Partly digital, but mostly
paperbased
Mostlydigital
100%digital
Activity in blockchain &
real estate
Source: Wikipedia
52 POLAND FIBREE INDUSTRY REPORT 2019 53POLAND
Level of engagement with blockchain
12345
LowSlightly engaged
MediumMostly engaged
High
Locations
Use of blockchain in real estate
WarsawAlexander Morari
WarsawAdrian Karczewicz
WarsawSylwia Toczyska
GARTNER HYPE CYCLE
REGIONAL CHAIRS
POLAND
Warsaw
COUNTRY MAP REAL ESTATE SECTOR
1
2
3
4
5
Pla
n a
nd
Bu
ild
Manage and Opera
te
Market
Next C
ity Solutions
Bui
ldin
g Te
chno
logi
es
Invest and Finance
Research and Valuate
Time
Exp
ecta
tio
ns
Inn
ovat
ion
Tri
gger
Exp
ecta
tio
ns
Tro
ugh
of
Dis
illu
sio
nm
ent
Slo
pe
of
En
ligh
ten
men
t
Pla
teau
of
Pro
du
ctiv
ity
Overall activity in blockchain & real estate
Warsaw
Polish
38,433,600
CAPITAL
LANGUAGE
POPULATION
CURRENCY
GROSS DOMESTIC PRODUCT
$593.295 billion
FIBREE FACTS
COUNTRY FACTS
First chapter established: 01/2019
Get in touch:
50%
Start-Ups
25%
GovernmentPublic authorities
25%
Corporate>200 employees
SECTOR ACTIVITY
SIZE OF COMMUNITY
CONTACT
for blockchain applications
Ethereum»
MOST USED TECHNOLOGY
for blockchain & real estate
ShareSpace
AzurSea
1.
2.
MOST PROMISSING STARTUPS
<50 <100 <500 <1000 >1000
How far is the country moving from paper-based
business to a digital economy in the real estate industry?
ANALOG TO DIGITAL
Still mostly paperbased
Partly digital, but mostly
paperbased
Mostlydigital
100%digital
Activity in blockchain &
real estate
Source: Wikipedia
-3.
54 RUSSIA FIBREE INDUSTRY REPORT 2019 55RUSSIA
Level of engagement with blockchain
12345
LowSlightly engaged
MediumMostly engaged
High
Locations
Use of blockchain in real estate
MoscowStephen Inscoe
GARTNER HYPE CYCLE
REGIONAL CHAIRS
RUSSIA
COUNTRY MAP REAL ESTATE SECTOR
1
2
3
4
5
Pla
n a
nd
Bu
ild
Manage and Opera
te
Market
Next C
ity Solutions
Bui
ldin
g Te
chno
logi
es
Invest and Finance
Research and Valuate
Time
Exp
ecta
tio
ns
Inn
ovat
ion
Trig
ger
Exp
ecta
tio
ns
Tro
ugh
of
Dis
illu
sio
nm
ent
Slo
pe
of
En
ligh
ten
men
t
Pla
teau
of
Pro
du
ctiv
ity
Overall activity in blockchain & real estate
Moscow
Russian
146,793,744
CAPITAL
LANGUAGE
POPULATION
CURRENCY
GROSS DOMESTIC PRODUCT
Russian Ruble
$1.610 trillion
FIBREE FACTS
COUNTRY FACTS
First chapter established: 05/2019
Get in touch:
40%
Start-Ups
5%
GovernmentPublic authorities
15%
Corporate>200employees
40%
SME<200 employees
SECTOR ACTIVITY
SIZE OF COMMUNITY
CONTACT
for blockchain applications
Ethereum»
MOST USED TECHNOLOGY
for blockchain & real estate
Waves/Vostok
LAToken
1.
2.
MOST PROMISSING STARTUPS
<50 <100 <500 <1000 >1000
How far is the country moving from paper-based
business to a digital economy in the real estate industry?
ANALOG TO DIGITAL
Still mostly paperbased
Partly digital, but mostly
paperbased
Mostlydigital
100%digital
Activity in blockchain &
real estate
Source: Wikipedia
Universa3.
Moscow
56 SLOVENIA FIBREE INDUSTRY REPORT 2019 57SLOVENIA
Level of engagement with blockchain
12345
LowSlightly engaged
MediumMostly engaged
High
Locations
Use of blockchain in real estate
LjubljanaDenis Petrovcic
GARTNER HYPE CYCLE
REGIONAL CHAIRS
SLOVENIA
Ljubljana
COUNTRY MAP REAL ESTATE SECTOR
1
2
3
4
5
Pla
n a
nd
Bu
ild
Manage and Opera
te
Market
Next C
ity Solutions
Bui
ldin
g Te
chno
logi
es
Invest and Finance
Research and Valuate
Time
Exp
ecta
tio
ns
Inn
ovat
ion
Tri
gger
Exp
ecta
tio
ns
Tro
ugh
of
Dis
illu
sio
nm
ent
Slo
pe
of
En
ligh
ten
men
t
Pla
teau
of
Pro
du
ctiv
ity
Overall activity in blockchain & real estate
Ljubljana
Slovene
2,080,908
CAPITAL
LANGUAGE
POPULATION
CURRENCY
GROSS DOMESTIC PRODUCT
Euro
$55 billion
FIBREE FACTS
COUNTRY FACTS
First chapter established: 07/2018
Get in touch:
5%Government
Public authorities
5%
Corporate>200employees
20 %
SME<200employees
SECTOR ACTIVITY
SIZE OF COMMUNITY
CONTACT
for blockchain applications
Ethereum»
MOST USED TECHNOLOGY
for blockchain & real estate
Blocksquare.io
Elements Estates
-
1.
2.
3.
MOST PROMISSING STARTUPS
<50 <100 <500 <1000 >1000
How far is the country moving from paper-based
business to a digital economy in the real estate industry?
ANALOG TO DIGITAL
Still mostly paperbased
Partly digital, but mostly
paperbased
Mostlydigital
100%digital
Activity in blockchain &
real estate
Source: Wikipedia
70%
Start-Ups
58 SPAIN FIBREE INDUSTRY REPORT 2019 59SPAIN
Level of engagement with blockchain
12345
LowSlightly engaged
MediumMostly engaged
High
Locations
Use of blockchain in real estate
MadridMiguel Linera Alperi
MadridAlfredo Diaz-Araque Moro
MálagaAli Parandeh Zandpour
MálagaVicente Ortiz Alonso
GARTNER HYPE CYCLE
REGIONAL CHAIRS
SPAIN
Málaga
Madrid
COUNTRY MAP REAL ESTATE SECTOR
1
2
3
4
5
Pla
n a
nd
Bu
ild
Manage and Opera
te
Market
Next C
ity Solutions
Bui
ldin
g Te
chno
logi
es
Invest and Finance
Research and Valuate
Time
Exp
ecta
tio
ns
Inn
ovat
ion
Tri
gger
Exp
ecta
tio
ns
Tro
ugh
of
Dis
illu
sio
nm
ent
Slo
pe
of
En
ligh
ten
men
t
Pla
teau
of
Pro
du
ctiv
ity
Overall activity in blockchain & real estate
Madrid
Spanish
46,733,038
CAPITAL
LANGUAGE
POPULATION
CURRENCY
GROSS DOMESTIC PRODUCT
Euro
$1.506 trillion
FIBREE FACTS
COUNTRY FACTS
First chapter established: 01/2019
Get in touch:
SECTOR ACTIVITY
SIZE OF COMMUNITY
CONTACT
for blockchain applications
Ethereum»
MOST USED TECHNOLOGY
for blockchain & real estate
Arex
-
-
1.
2.
3.
MOST PROMISSING STARTUPS
<50 <100 <500 <1000 >1000
How far is the country moving from paper-based
business to a digital economy in the real estate industry?
ANALOG TO DIGITAL
Still mostly paperbased
Partly digital, but mostly
paperbased
Mostlydigital
100%digital
Source: Wikipedia
54,3%
Start-Ups
11%
Corporate>200employees
13,3%
SME<200employees
21,3%
GovernmentPublicauthorities
Activity in blockchain &
real estate
60 SWITZERLAND FIBREE INDUSTRY REPORT 2019 61SWITZERLAND
Level of engagement with blockchain
12345
LowSlightly engaged
MediumMostly engaged
High
Locations
Use of blockchain in real estate
GARTNER HYPE CYCLE
SWITZERLAND
COUNTRY MAP REAL ESTATE SECTOR
1
2
3
4
5
Time
Exp
ecta
tio
ns
Inn
ovat
ion
Trig
ger
Pea
k o
f in
flat
ed
Exp
ecta
tio
ns
Tro
ugh
of
Dis
illu
sio
nm
ent
Slo
pe
of
En
ligh
ten
men
t
Pla
teau
of
Pro
du
ctiv
ity
Overall activity in blockchain & real estate
Bern
German, French,Italian, Romansh
8,508,898
CAPITAL
LANGUAGE
POPULATION
FIBREE FACTS
COUNTRY FACTS
First chapter established: 07/2018
Get in touch:
SECTOR ACTIVITY
SIZE OF COMMUNITY
CONTACT
for blockchain applications
Ethereum, Tezos, Polkadot»
MOST USED TECHNOLOGY
for blockchain & real estate
Crowdlitoken
element36
Elea Labs
1.
2.
3.
MOST PROMISSING STARTUPS
<50 <100 <500 <1000 >1000
How far is the country moving from paper-based
business to a digital economy in the real estate industry?
ANALOG TO DIGITAL
Still mostly paperbased
Partly digital, but mostly
paperbased
Mostlydigital
100%digital
CURRENCY
Swiss Franc (CHF)
GROSS DOMESTIC PRODUCT
$704 billion
Source: Wikipedia
Pla
n a
nd
Bu
ild
Manage and Opera
te
Market
Next C
ity Solutions
Bui
ldin
g Te
chno
logi
es
Invest and Finance
Research and Valuate
50%
Start-Ups
15%
Corporate>200 employees
15%
SME<200 employees
20 %
GovernmentPublic authorities
Activity in blockchain &
real estate
Zug, Zurich & GenevaMichael TruebesteinLutz ThelenWalter Strametz
REGIONAL CHAIRS
Zug
Geneva
Zurich
Level of engagement with blockchain
12345
LowSlightly engaged
MediumMostly engaged
High
Locations
Use of blockchain in real estate
TaipeiSebastian Hewing
GARTNER HYPE CYCLE
REGIONAL CHAIRS
62 TAIWAN
TAIWAN
Taipei
COUNTRY MAP REAL ESTATE SECTOR
1
2
3
4
5
Pla
n a
nd
Bu
ild
Manage and Opera
te
Market
Next C
ity Solutions
Bui
ldin
g Te
chno
logi
es
Invest and Finance
Research and Valuate
Time
Exp
ecta
tio
ns
Inn
ovat
ion
Trig
ger
Pea
k o
f in
flat
ed
Exp
ecta
tio
ns
Tro
ugh
of
Dis
illu
sio
nm
ent
Slo
pe
of
En
ligh
ten
men
t
Pla
teau
of
Pro
du
ctiv
ity
FIBREE INDUSTRY REPORT 2019
Overall activity in blockchain & real estate
Teipei
Mandarin, Chinese
23,577,271
CAPITAL
LANGUAGE
POPULATION
CURRENCY
GROSS DOMESTIC PRODUCT
New Taiwan Dollar
$603 billion
FIBREE FACTS
COUNTRY FACTS
First chapter established: 11/2018
Get in touch:
50%
GovernmentPublic authorities
15%
Corporate>200 employees
15%
SME<200 employees
20%
Start-Ups
SECTOR ACTIVITY
SIZE OF COMMUNITY
CONTACT
for blockchain applications
Ethereum»
MOST USED TECHNOLOGY
for blockchain & real estate
-
-
-
1.
2.
3.
MOST PROMISSING STARTUPS
<50 <100 <500 <1000 >1000
63TAIWAN
How far is the country moving from paper-based
business to a digital economy in the real estate industry?
ANALOG TO DIGITAL
Still mostly paperbased
Partly digital, but mostly
paperbased
Mostlydigital
100%digital
Activity in blockchain &
real estate
Source: Wikipedia
Level of engagement with blockchain
12345
LowSlightly engaged
MediumMostly engaged
High
Locations
Use of blockchain in real estate
LondonKevin O‘Grady
GARTNER HYPE CYCLE
REGIONAL CHAIRS
64 UNITED KINGDOM
UNITED KINGDOM
London
COUNTRY MAP REAL ESTATE SECTOR
1
2
3
4
5
Pla
n a
nd
Bu
ild
Manage and Opera
te
Market
Next C
ity Solutions
Bui
ldin
g Te
chno
logi
es
Invest and Finance
Research and Valuate
Time
Exp
ecta
tio
ns
Inn
ovat
ion
Trig
ger
Pea
k o
f in
flat
ed
Exp
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tio
ns
Tro
ugh
of
Dis
illu
sio
nm
ent
Slo
pe
of
En
ligh
ten
men
t
Pla
teau
of
Pro
du
ctiv
ity
FIBREE INDUSTRY REPORT 2019
Overall activity in blockchain & real estate
London
English
66,921,307
CAPITAL
LANGUAGE
POPULATION
CURRENCY
GROSS DOMESTIC PRODUCT
Pound Sterling
$2.936 trillion
FIBREE FACTS
COUNTRY FACTS
First chapter established: 05/2019
Get in touch:
45%
Start-Ups
15%
Corporate>200 employees
20%
GovernmentPublicauthorities
20%
SME<200 employees
SECTOR ACTIVITY
SIZE OF COMMUNITY
CONTACT
for blockchain applications
Ethereum»
MOST USED TECHNOLOGY
for blockchain & real estate
Electron
Aztec
Qadre
1.
2.
3.
MOST PROMISSING STARTUPS
<50 <100 <500 <1000 >1000
65UNITED KINGDOM
How far is the country moving from paper-based
business to a digital economy in the real estate industry?
ANALOG TO DIGITAL
Still mostly paperbased
Partly digital, but mostly
paperbased
Mostlydigital
100%digital
Activity in blockchain &
real estate
Source: Wikipedia
Use of blockchain in real estate
Coordinator USAAlexandra Sasha Kramer
ChicagoGeoffrey Kasselman
New YorkJohn Dean Markunas
New YorkAnthony Elia
Silicon ValleyPeter Su
Silicon ValleyRanganathan Krishnan
Los AngelesEric Bryant
SeattleBrock Freeman
PhiladelphiaGary Brandeis
DenverGarratt Hasenstab
GARTNER HYPE CYCLE
REGIONAL CHAIRS
66 USA
USA
New York
PhiladelphiaSan Francisco
COUNTRY MAP REAL ESTATE SECTOR
1
2
3
4
5
Pla
n a
nd
Bu
ild
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te
Market
Next C
ity Solutions
Bui
ldin
g Te
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logi
es
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Research and Valuate
Time
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ecta
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ns
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ovat
ion
Trig
ger
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k o
f in
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ed
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ecta
tio
ns
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ugh
of
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illu
sio
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ent
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pe
of
En
ligh
ten
men
t
Pla
teau
of
Pro
du
ctiv
ity
Seattle
Denver
Los Angeles
Chicago
FIBREE INDUSTRY REPORT 2019
Overall activity in blockchain & real estate
Washington
English
327,167,434
CAPITAL
LANGUAGE
POPULATION
CURRENCY
GROSS DOMESTIC PRODUCT
United States Dollar
$20.891 trillion
FIBREE FACTS
COUNTRY FACTS
First chapter established: 09/2018
Get in touch:
40%
Start-Ups
16,3%
GovernmentPublicauthorities
17,5%
SME<200employees
26,3%
Corporate>200 employees
SECTOR ACTIVITY
SIZE OF COMMUNITY
CONTACT
for blockchain applications
Multiple Technologies»
MOST USED TECHNOLOGY
for blockchain & real estate
Harbor
Leasera.com
Bloq
Securitize
1.
2.
2.
2.
MOST PROMISSING STARTUPS
<50 <100 <500 <1000 >1000
67USA
How far is the country moving from paper-based
business to a digital economy in the real estate industry?
ANALOG TO DIGITAL
Still mostly paperbased
Partly digital, but mostly
paperbased
Mostlydigital
100%digital
Activity in blockchain &
real estate
Source: Wikipedia
PRODUCT DATABASE
68 PRODUCT DATABASE FIBREE INDUSTRY REPORT 2019
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69PRODUCT DATABASE
This product database was created by a FIBREE working group based on desktop research (see page
11 for details). Products that were public available by December 31, 2018 have been recognized
to the best of our effort. As the industry is constantly changing this can only be a snapshot and has
no claim to be complete. So please be aware that some of the products listed, might in the period in
between have ceased their activities.
Via the FIBREE website you can add products / startups to this database or let us know in case
projects that are listed here ceased meanwhile.
70 PRODUCT DATABASE FIBREE INDUSTRY REPORT 2019 71PRODUCT DATABASE
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84 OUR SPONSORS FIBREE INDUSTRY REPORT 2019 85OUR PARTNERS
OUR SPONSORSSupport in bringing together the expertise of pioneers and exchanging knowledge and insights thathave already been gained.
OUR PARTNERS
CBRE
cbre.com
DLA PIPER
dlapiper.com
ODYSSEY
odyssey.org
PROVADA
provada.nl
STEKADEMY
stekademy.nl
INATBA
inatba.org
WTIA
washingtontechnology.org
GLOBAL PROPTECH
globalproptech.online
REAL ESTATE
INNOVATION NETWORK
real-estate-innovation.net
GOVERNMENT BLOCKCHAIN
ASSOCIATION
gbaglobal.org
HOLLAND CONTECH &
PROPTECH
contechproptech.nl
VESTEDA
vesteda.com
RABOBANK
rabobank.com
BOUWINVEST
bouwinvest.com
GLOBAL SPONSOR
REGIONAL SPONSORS
CHAIRS
Florian Huber / Vienna
Walter Strametz / Graz
Dominik Alphart / Vienna
Jo Bronckers / Amsterdam
Jan Veuger / Enschede
Denis Petrovcic / Ljubliana
Stephen Inscoe / Moscow
Michael Truebestein / Zug
Kevin O‘Grady / London
Alexander Morari / Warsaw
Adrian Karczewicz / Warsaw
Sylwia Toczyska / Warsaw
Ali Parandeh Zandpour / Malaga
Miguel Linera Alperi / Madrid
Alfredo Diaz-Araque Moro / Madrid
Vicente Ortiz Alonso / Malaga
Alexander Appelmans / Brussels
Tomica Cesar / Zagreb
Mariam Turashvili / Tibilisi
Achim Jedelsky / Berlin
Fabian Süß / Stuttgart
Roland Farhat / Frankfurt
Sandor Horvath / Regensburg
Paul Huelsmann / Hamburg
Marc Driessen / Hamburg
Axel von Goldbeck / Berlin
Sebastian Steimer / Stuttgart
Alex dell Orto / Milano
Francesco Filippo Bruno / Milano
Emanuele Rizzardi / Milano
Patrizia Giannini / Rome
Kornel Kalocsai / Budapest
AUSTRIA NETHERLANDS
SLOVENIA
RUSSIA
SWITZERLAND
UNITED KINGDOM
POLAND
SPAIN
BELGIUM
CROATIA
GEORGIA
GERMANY
ITALY
HUNGARY
87CHAIRS
By bringing together the expertise of pioneers in this field and sharing knowledge and insights already gained, FIBREE wants to make an important contribution to the adoption and implementation of this technology in the real estate market in the coming years.
BOARD
ACHIM JEDELSKY
President
ALEX DELL ORTO‘
Secretary
FLORIAN HUBER
Community Engagement
WALTER STRAMETZ
Treasurer
JO BRONCKERS
Vice President
PR / Corporate Relations
DENIS PETROVCIC
Governance Structure and Ethics
TOMICA CESAR
Product and Content
MICHAEL TRÜBESTEIN
Regional Development and Events
Berlin, Germany
Milano, Italy
Vienna, Austria
Graz, Austria
Amsterdam, Netherlands
Lublijana, Slovenia
Zagreb, Croatia
Zug, Switzerland
86 BOARD
EUROPE
FIBREE INDUSTRY REPORT 2019
88 CHAIRS 89NOTES
Or Perelman / Tel Aviv
Yael Tamar / Tel Aviv
Ido Shacham / Tel Aviv
Sagar Brahmbhatt / Melbourne
Gordon Christian / Agnes Water
John Dean Markunas / New York
Alexandra Sasha Kramer / New York
Ranganathan Krishnan / Silcon Valley
Brock Freeman / Seattle
Geoffrey Kasselman / Chicago
Peter Su / Silcon Valley
Eric Bryant / Los Angeles
Gary Brandeis / Philadelphia
Anthony Elia / New York
Garratt Hasenstab / Denver
Rafael Stocco / Sao Paulo Nathan Wosnack / Santiago
Rajesh Dsouza / Bangalore
Arnab Paul / Kolkata
Samuel Ouko / Nairobi
Sebastian Hewing / Teipei
Cody Weiss / Calgary
Mustafa Shinnar / Dubai
ISRAEL
AUSTRALIA
USA
BRAZIL CHILE
INDIA
KENYA
TAIWAN
CANADA
UNITED ARAB EMIRATES
MIDDLE EAST AND AFRICA
ASIA AND PACIFIC
NORTH AMERICA
SOUTH AMERICA
NOTES
FIBREE INDUSTRY REPORT 2019