The Urbit Ecosystem, a Space for the Real Estate Market

We constantly hear about an ecosystem within the world of cryptocurrencies, but do we know why this term is used? For starters we will tell you that it is a digital ecosystem. The digital ecosystem is a concept that is used as a metaphor to exemplify the way in which the different elements and tools function within a digital strategy. It is called an ecosystem because it is compared to the natural systems that describe biology and ecology.

Kevin Kelly, founder and executive director of Wired magazine, in an interview for the newspaper El Economista de España, during the digital fair “Aldea digital 3” commented on this concept: “The digital ecosystem is not a living organism, it is an entire ecosystem that is always changing and growing; and the more it grows, the more it improves. The Internet and technology constitute an ecosystem that has no limits. “

In the case of cryptocurrencies, the digital ecosystem integrates the term blockchain, which is an open source technology in which everyone can participate and exchange estates and services without the need of third parties. This has become an Internet revolution because it involves a paradigm shift when it comes to sharing information.

The real estate sector is one of the application areas of this technology, where information on all real estate can be stored, evaluated and transferred digitally, this is the goal of the Urbit ecosystem. In this ecosystem, any person, company or institution can access property information, make the valuation of a property, search for rental offers or buy and offer properties for sale or rent.

In the Urbit ecosystem there are two economic roles:

1. Information and service providers, who provide valuable information or services to the ecosystem and are economically rewarded with Urbit currencies.

2. Consumers of information and services, those who must contribute coins for receiving data or ecosystem services.

The main use of the Urbit ecosystem would be for owners, who could make valuations of their properties; tenants, looking for rental offers; buyers, exploring properties to buy; and owners, offering properties to sell or rent. It is important to note that most requests in the Urbit ecosystem, that is, the search for properties to buy or rent, or request a price assessment from the system are free.

The Urbit ecosystem will be built with servers around the world (miners) where the blockchain will be stored and the services will be executed, in exchange currencies will be offered as compensation, approximately 150 million coins are kept in a reserve from which they will be distributed among the miners proportionally as they contribute to the ecosystem.

With the ecosystem, the aim is not only to improve efficiency and transparency in developed markets, but also to offer an alternative to carry out transactions in developing markets, especially in countries where cadastral systems are not available or are not reliable.

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