Real Estate & Construction Reimagined Via Blockchain
Athena.Trade Presents: DigiBuild
Athena.Trade Presents DigiBuild
We look forward to welcoming Rob Salvador, CEO of Digibuild, to Athena.Trade and are excited to hear his informative presentation on how transactions in real estate can become streamlined and expedited via the use of smart contracts. Below are two versions of the recording one from Teams and one from Periscope.
Jenny B. @LulaEDUcate
Jenny B. (@LulaEDUcate) from Chicago, IL, United States. Co-Founder & Coach | Educator | Blockchain & Crypto Enthusiast…
DigiBuild: An Overview of Construction Reimagined
“DigiBuild is a construction management software company utilizing blockchain technology and smart contracts to deliver unprecedented value to the global construction industry. Enabled by blockchain, users including, real estate developers, general contractors, subcontractors, and suppliers will realize up to 10% direct cost savings, faster cash flow cycles, and a first-hand reputation management and data insights system. This will de-risk the industry and promote data driven decision making. Collectively these benefits help to significantly increase our users’ profit margins.” 
“…a SaaS platform that is underpinned by the Hyperledger Fabric blockchain. Users will be able to manage project transactions, perform project management functions, monitor projects, and view construction data within the platform.” 
CEO & Industry Expert, Rob Salvador: With a depth of construction experience lending a keen eye to the issues that plague both the real estate market and the construction industry, Rob identifies the key points for disruption to reduce friction and encourage productive collaboration. 
Who should Attend?
- Those interested in Learning the Use of Blockchain in Real Estate Investment
- Contractors and other industry professionals in the construction industry
- Real estate and Industry Professionals
- Legal & Regulatory Professionals
- Crypto & Blockchain Enthusiasts
Deconstructing the Problem: Leveraging Blockchain to Optimize Construction & Real Estate
Construction & Real Estate, Status Quo
The global construction market is growing rapidly. , “[This] market is expected to grow to $24334.9 billion in 2021 at an impressive compound annual growth rate (CAGR).” 
Real estate sales are also expected to rise as cited by the National Association of Realtors (NAR)
NAR expects sales to increase 1 percent to about 5.4 million and the median home price to rise 3.1 percent to around $266,800 in 2019, and $274,000 in 2020. 
Despite this growth, both Real Estate and construction are wrought with multiple trust issues. Why is this?
Perhaps a better question is, How can Blockchain remedy this failure?
Transaction & Settlements, All in Due Time, or Time for Change?
Construction is a slow industry. Subcontractors can wait 30, 60, 90, or even 120 days for payment. This means that the subcontractor must front the cost out of pocket for the materials and TRUST the proverbial check is in the mail.
But general contractors don’t just delegate the responsibility …when they engage subcontractors…
They also pass on the burden of scheduling, securing the lines of credit necessary to supply materials and equipment, staffing the project and paying wages until they receive their first progress payment.
For the biggest subcontractors, this could mean fronting millions of dollars in payroll and other expenses each month.
“Cash flow is a huge topic for a subcontractor,” said Michael Weber, principal at Gaston Electrical in Boston-area Norwood, MA. For this reason, he said, Gaston trains its project managers to keep an open dialogue with customers about invoices, their approval turnaround times and any other expectations around payment. 
Taking this all in stride, is it any wonder that the norm of this industry is over budget and delayed?
Smart Contracts, A ‘Smart’ Choice?
Many people toss around the term smart contract and Blockchain as easy solutions to these oversimplified problems. Yet, we must wonder, If these problems were that simple, would they still be problems? Likely not.
The industry is a complexity that offers nuances such as Inspections, Title Insurance, Due Diligence, and a great deal of collaboration. Albeit in the background. It would be incredibly naive to believe that Blockchain will offer a magical solution.
Deloitte (Deloitte Digital) succinctly describes the sentiment of the industry today, offering a compelling case for becoming Blockchain tolerant if not literate,
“Blockchain is on the agenda of the CEO of almost every real estate company. But blockchain is not necessarily the solution for every item on the agenda.” 
In sum, it is a rarity to find someone that is equally well versed in technology, real estate, and construction. Many conversations lack one expertise or another,and yet, repeatedly fail to address the scope of the problem, the technology, or both. Further, most gloss over the specific mechanisms needed to execute this change in one of the aforementioned facets. Therefore, any solution is usually lost in translation.
With the problem of trust and communication, how can a smart contract remedy, redress, and incentivize? Rob will present on these multifaceted issues, including a complete Question and Answer Session to answer any and every one of your questions.
- What do you need to know?
- How will the industry be disrupted?
- How will this change the experience for all stakeholders?
- How will this impact everyone’s bottom line?
We hope you join us for this presentation! It looks to be a foundational opportunity to build upon your knowledge in Blockchain Real Estate and Construction.
Questions? Email Jb@lulaco.io Jenny Balliet
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Wednesdays, we host Athena.Trade Presents, where we bring in innovative companies and industry experts to present to our members and friends. Click below to request more information.