The Journey From Economics To Cryptoeconomics
The current setting of property brokerages has meant that property brokers have no incentive to act in a consumer-centric manner but rather as rent seekers who target one of the most important decisions a human being will ever make. Fortunately, software is eating their lunch too, we’re building a next-generation marketplace to enable real estate transactions with the click of a button through peer to peer transactions. We believe cryptoeconomics will play a massive role in encouraging property brokers to act in a more consumer-centric manner to better serve buyers and sellers in real estate transactions.
“Cryptoeconomics is the use of incentives and cryptography to design new kinds of systems, applications, and networks. Cryptoeconomics is specifically about building things, and has most in common with mechanism design — an area of mathematics and economic theory” — Coindesk
Today, some countries in Africa still lack even paper based title deeds, for those sort of countries we believe the decentralized web provides a great opportunity to leapfrog the majority of developed nations that are still reliant on paper title deeds mediated by property brokers in order to execute real estate transactions. To deliver a product that’ll find market fit in each of the various markets which make up the global property market, a great deal of research will be directed towards understanding the various economic models underlying the role of a property broker and we’re excited to be welcoming a research intern to our team.
Peter is a proactive spirit, takes initiative, advocates for risk but values tangible results. His interest span across economics, law and finance and he’s gained work experience with some of the top law firms in South Africa.
In the work place — he envisions himself engaging customers and researching product related topics — all feeding to his proactive approach to life. He communicates efficiently, believing structured and easily understood communication is essential both internally, for business function performance and externally for connections and relationships with the community. Peter specializes in Economics, and has also been introduced to Commercial Law and Applied Mathematics. He is currently in the last semester of his undergraduate program at the University of Cape Town. It must be noted that this means his full focus until end of year will thus be balanced, with higher weighting towards the “UCT paper”, he just couldn’t wait to find out more about crypto-economics and the blockchain ecosystem, never mind the bear market.
Peter’s first assignment will be a research paper quantifying the global property brokerage market with heavy emphasis on the African market which currently lacks conclusive data. If he’s not digging down on interesting topics, Peter enjoys creating conscious sounds on the piano and of course, meditation.
Please join us in welcoming Peter to the team !
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