Interview with: DJ Van Keuren, Vice President, Hayman Family Office

1. Interview with: DJ Van Keuren, Vice
President, Hayman Family Office
“Blockchain has the potential to
revolutionise how the real estate sector
operates, lowering transaction costs and
providing investors easier access to
international listings,” says DJ Van
Keuren, Vice President, Hayman Family
Office. “There will be pushback from
various parties whose businesses will be
impacted, so a number of issues must
be addressed. Real estate professionals,
lawmakers, regulators and technology
developers will have to work together to
confront the difficulties,” he suggests.
Van Keuren is a keynote speaker at the
marcus evans Real Estate Investors
Summit 2018, taking place in London,
United Kingdom, 19 – 20 November.
What is the future of cryptocurren-
cies? How will Blockchain and smart
contracts impact real estate
investing?
From a Blockchain perspective,
cryptocurrency data is stored in a peer-
to-peer network and decentralised.
Every new transaction or information
added is immediately visible. Currently,
real estate is full of registrations. In the
US, records are kept by individual
counties, each with different standards
and protocols, making interoperability a
problem. Brokers keep a registry of
investors, landlords a registry of
tenants. These are uncoordinated, slow
and often paper-heavy.
Blockchain and smart contracts can
revolutionise this outdated model. This
requires data providers, appraisers, due
diligence providers, notaries and
brokers to collaborate. A Blockchain-
based land registry would enhance and
streamline the way real estate
transactions are logged and executed. It
has the potential to make investment
transactions and renting cheaper to
facilitate and more transparent. Smart
contracts will be able to be executed
without the need for human interaction,
so transfer of ownership and other
transactions can be commoditised.
Transactions that used to take weeks
can be completed in a few hours.
However, these reduce or even
eliminate the need for lawyers, title
companies and other intermediaries, so
there will be pushback. Blockchain will
be taking people out of the process.
What real estate investment
opportunities does this translate to?
Blockchain will allow greater opportunity
to purchase real estate on a global
basis, because with cryptocurrencies,
there is no need to deal with different
banking systems. They can be
converted to cash easily. Blockchain in
general increases efficiency, transpar-
ency and transaction security, reducing
fraud. Blockchain-based land registries
would appeal to overseas investors from
countries with less mature central
registries.
Many countries are embracing or
exploring Blockchain and smart
contracts. Sweden has taken this to the
next level and has made a commitment
to adopting Blockchain for its real
estate. Dubai has a Blockchain 2020
initiative and will be recording all real
estate contracts on a Blockchain.
England and Wales have an established
and well-developed central land
registry, yet the HM Land Registry is
considering implementing Blockchain.
Japan is tracking a new land registration
system, while Singapore has decided
not to implement the technology at all.
In the US all counties have to come
together into one main data centre.
Some European countries have been
cautious. If everybody works on the
same level, speaks the same language,
this technology would have a huge
impact on the sector internationally.
There is a company looking into
developing a Blockchain-based multiple
listings service, to give investors access
to international listings, and the ability
to buy properties with cryptocurrency.
Transaction costs would be lower, the
process more efficient and accurate.
The first global REIT also came out in
Dubai, allowing investors to use any
form of currency to buy into different
types of funds without worrying about
exchange rates. Not only can Blockchain
provide transparency, but also a means
to buy real estate on a global basis, in a
much easier fashion, instantaneously.
What risks should investors be
aware of?
Some cryptocurrencies have gone
under, and there has been fraud
associated with a few of them. Investors
need to consider: Is it a secure
environment? What is the credibility of
the company? What is the track record
of the team? Investors still have to go
back to the fundamentals of investing in
real estate and evaluate the operator
and investment.
Transactions
that used to
take weeks can
be completed
in a few hours
How Cryptocurrencies and Blockchain
Will Impact Real Estate Investing

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About the Real Estate Investors Summit 2018
The Real Estate Investors Summit is the ultimate meeting point, bringing elite
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drivers shaping real estate asset allocations. Taking place at The Chelsea Harbour
Hotel, London, United Kingdom, 19 - 20 November, the Summit includes
presentations on long-term investment opportunities, real estate diversification,
taking advantage of future market trends, and understanding real estate cycles.
http://reinvestors.marcusevans-summits.com
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