I thought since the crypto market is in the tank (as of the moment I write this) I would give the #CRE industry a bit of visionary leadership and help the Darkstar use the blockchain or what may be left of it to “enhance” the commercial real estate market. Why, because that’s just how I am, kind-hearted, sweet, giving (humble) and always thinking about ways to improve #CRE.
Why help the DarkStar you may ask? Well, why not, they seem to be doing everything they can for #CRE and this is my way of showing them how to add even more value to their amazingly robust products and offerings.
For those that need a bit if refreshing.
Blockchain/ Consensus protocol/ A process, encoded in software, by which computers in a network, called nodes, reach an agreement about a set of data. Cryptocurrency (or crypto-token)/ A scarce digital asset defined by a blockchain protocol and exchanged via that blockchain system. Source- MIT
And to help even further.
Smart contract/ A computer program stored in a blockchain that automatically moves digital assets between accounts if conditions encoded in the program are met. It serves as a way to create a mathematically guaranteed promise between two parties. Source- MIT
The DarkStar Step By Step Guide.
Step 1. Become the defacto source for all market data. Start with listing data then to sales data adding then comps and finally lease data. All data would be geographically specific and defined by each classification. Example: Nashville Class A office. Nashville Class B Office. Nashville Industrial. Nashville Retail. etc. Only registered and verified subscribers with a blockchain account are allowed access to that market. Any other market access is to be determined by the DarkStar and additional markets will, of course, require additional access fees. This will help eliminate any possible non-paying access.
Step 2. Enhance and verify data from all sources now available and input into the proprietary DarkStar blockchain system. Enable users to input market data and gain system tokens as a way to verify and define a value for the data. Only allow access to data via the use or “spending” of the system tokens. This will make the tokens more valuable within the system and also maintain the ability to choose or decide who will be able to access the market data along with incentivizing more use of the system.
Step 3. Create tiers of access and subscribers. That should be defined by the data the subscribers find the most valuable. The more valuable the market data the more it should cost to access. Also, define the data by time. The more timely and or needed the more it should cost to access. Example: A Class A office comp that has been put into the system less than 30 days previous should have more value than a comp that was input into the system 180 days previous. Lease data should be at a premium and should also be tiered depending on the information needed. Example: Class A office actual dollars per square foot would have more value than the names of the parties involved in the transaction of the lease. The lease expiration date would have a premium value.
Step 4. Limit the number of tokens available in the system. Create a limited access marketplace allowing only subscribers that help define the market and have the ability to pay for access. They are the true market makers and will value the exclusivity of the blockchain secured database.
Step 5. Sell access to certain lead generating and opportunity data outside the system. The fact that the lead generating data came from a blockchain verified database will allow the leads to have more value, therefore they will be at a premium. Sell a monthly subscription and allow access to any and all who want to subscribe. Create multiple market subscriptions and tier the pricing by market velocity. More activity in the market means that more of a premium that can be charged.
Step 6. Keep the platform, experience and interface simple. The subscribers and users only want and need certain basic functions. They don’t even need to know how the blockchain portion of the platform works. Just tell them you are doing “blockchain as a service.” Tell them their data is secured and only accessible by users you allow within the system. Show them a simple example, they won’t recognize any difference in the usability or function of the platform, therefore, making it seamless for them to use.
Step 7. The most important and crucial part of the DarkStar Blockchain Platform will be the pricing and enhancement of the data. Execute this part of the platform flawlessly and there will be no other Blockchain platform that will be able to compete.
How The DarkStar Could And Should Use The Blockchain. A Step By Step Guide.
+1 And Then…