Blockchain in Real Estate Market – a Chance for Revolution the Industry

Maciej Zieliński

04 Apr 2023
Blockchain in Real Estate Market – a Chance for Revolution the Industry


In recent years, the total value of real estate was estimated to over 200 trillion dollars. In comparison, the value of every ounce of gold ever mined by the humanity across the generations is around 30 times lower. However, despite experiencing such a rapid growth, real estate market fails to introduce meaningful innovations to accommodate and capitalize on its success. Introducing blockchain in real estate market strives to break the mould and end the age of stagnation.

Benefits of Incorporating Blockchain in Real Estate Market

It appears that Blockchain is an answer to many persistent issues with the industry, without the risk of increasing the costs. Its incorporation brings a number of benefits, from which we can single out the most important:

Benefits of Incorporating Blockchain in Real Estate Market
Identical records for many stakeholders
Easily accessible information
Decentralisation and digitalisation of mortgage register
Opening the market for the less affluent
A chance to increase the liquidity of the assets
Clarity of purchase and renting processes
Reducing the risk of fraud or manipulation
The appearance of smart contracts

The Urgency of Introducing Blockchain in Real Estate Market

The appearance of platforms such as Zillow, which allows its users to store and access the real estate lists was a ground-breaking event for the market. Nevertheless, as the time passed by, people noticed the faulty nature of such solutions.

Subscribing to such a service generates additional costs, and so a lengthy period of sale might prove to be a strain for the budget. What is more, there is no standardisation of processes and communication within the services – this can prove detrimental towards the accuracy or even the relevancy of data stored within them.

Innovative Platforms for Real Estate Industry

Decentralized databases, powered by blockchain technology, could potentially address numerous challenges faced by the real estate industry. By distributing data across a peer-to-peer network, brokers can gain more control over the content they offer while minimizing third-party involvement. This would facilitate access to highly reliable information for users without straining their budget.

A prime example of this solution can be seen in Imbrex's real estate market, which operates on the Ethereum platform. Through encryption and data storage within the blockchain, servers have no authority over the real estate agents' sale announcements. Moreover, Imbrex's listings are updated in real time, making them far more efficient at delivering the latest information compared to traditional platforms.

Secure Storage of Land Registry on the Blockchain

Despite increased digitalization worldwide, it is concerning that most mortgage registries are still held in paper form. These important documents are susceptible to theft, manipulation, and physical destruction due to their fragile nature. The Haitian earthquake tragedy serves as a poignant example where disappearing registries led to massive conflicts over property ownership.

The vulnerability of paper forms is not the only issue; centralization of data storage also poses problems if no backup copies are available during unforeseen disasters. Consequently, storing mortgage registries within digital blocks of chain can significantly benefit the real estate industry. Decentralizing the database would lower potential risks associated with destruction or theft, and ensure that server downtime doesn't interfere with operations. Additionally, blockchain technology ensures that information cannot be edited, eliminating possibilities of manipulation and forgery.

Consistency in Real Estate Transactions through Blockchain

A major challenge within the current system is its oversaturation with stakeholders who often lack trust in one another. This leads to significant risks linked to inaccurate and fragmented data concerning real estate assets.

Inconsistency in documentation for parties involved contributes to scams, insecurity, and ambiguity within land management processes. Clients may need to undergo the same procedure multiple times, causing frustration and discouragement. The demand for change has been highlighted through RICS research, focusing on how primary market participants acquire and utilize information.

That is why, the standardisation of documents can be a key to success for the real estate market. The creation of decentralized database has been a longstanding goal of many companies, one of which is Propy. Its platform is based on the technology of database of blocks, which saves the data on a network of millions of nodes. Thanks to this, stakeholders have an access to identical copies of data, the consistency of which is verified in the real time by a software installed to each and every device. In such a model, trust is not a factor effecting the smooth exchange of information as the system forces its users to remain credible.

This and many other similar innovations together with IREDEC (International Real Estate Data Exchange Council) which is focused on standardising the basic set of data needed to enact the processes of real estate, gives us a bright perspective for the future.

Blockchain in Real Estate Market - Co-owning and Democratization Era

Currently one of the biggest obstacles which beginner investors face in the real estate market, is the high entry level. Crowd owning may turn out to be their dream solution. If I cannot afford the funding myself, why wouldn’t I just cooperate with others to achieve it? BitOfProperty is one of the companies which will allow the purchase and division of assets in separate units. The following process Is based on the tokenization – creation of virtual substitutes of real funds, which is perhaps the most revolutionary innovations of blockchain. A potential investor can purchase the individual tokens which are an equivalent of his desiredpart of a real estate. This opens up the market for the investors with smaller financial capacity and provides them with opportunities they didn’t have before.

  • Tokenisation in Practise

Pre-war villas in one of Warsaw’s most prominent districts – Żoliborz are reaching the transaction prices of around 2.5 million zlotys (approx. 650k dollars) which vastly exceeds the monetary capabilities of an average buyer. However, lets imagine that our seller tokenises the house. Then, lets consider that five separate buyers purchase one token whichcosts 500k zlotys (approx. 130k dollars). Such a price is much more affordable for a much larger group of investors. In this particular case, the five of our buyers are going to sign a smart contract with multiple signatures, which is going to make sure that every single decision concerning the house is carried out democratically and without the need of third-party supervision.

  • The Increase in Markets Liquidity

Thanks to the process of tokenisation, the real estate market will cease to be perceived as a “playground” for the richest. It will allow its democratisation. However, its far from being its only benefits.

The tokens could potentially become something of a cryptocurrency, which can be freely traded with the usage of designated platforms. This would reduce the widespread problem of finding a potential buyer. Instead of selling an entire property, its owner could sell a separate token, which could be an equivalent of its separate part.

The Clarity of Leasing

The process of renting is also made easier with Blockchain. It is possible to create a platformwhich gathers the information about the properties and their potential tenants in its decentralised network. It makes the process for both parties – the tenant gets all the information in one place and the landlord gains certainty about their reliability. Such a model would gain a significant advantage in a situation when one property would have many potential clients. The landlord would have an ability to compare the applications of every one of them and choose the most trustworthy and the one who would be willing to pay the most. Rantberry is one of the examples of such an application that allows the long-term rent of property in over 50 countries including Poland.

The Innovative Possibilities of the Smart Contracts

The aforementioned smart contracts allow its users to bring some visible changes to the real estate market. The incorporation of them which is based on the blockchain system will help at automatizing and simplifying even the most tedious and complex procedures.

An example of their usage could the automatized methods of lease agreement, which besidethe ability to secure the interests of both sides could potentially allow for supervision of established terms like monthly payment of rent. The process will be simplified and will be made cheaper because it wont have to involve the third party.


Smaller and bigger investors, the landlords, real estate agencies and even the state institutions could improve their actions thanks to the introduction of the Blockchain technology. Land and building registration held in a scattered database, identical records for many stakeholders, tokenisation of the value of the property is not just a musing on the futurebut a reality which is implemented even today.

You have to think of the blockchain as a new utility. It is a new utility network for moving value, moving assets.

William Mougayar, autor The Business Blockchain : Promise, Practice, and Application of the Next Internet Technology

Thirty years ago, the data was stored on mere floppy discs , which had to be brought to the meetings for sides to exchange the information. Indeed, the internet has allowed to revolutionise the real estate market but it is Blockchain which could potentially provide it with the burst of energy it desperately needs in the ever increasing demand for innovation.

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What is Account Abstraction?


10 Nov 2023
What is Account Abstraction?

Account abstraction is a new way of thinking about how users interact with blockchains. Instead of using traditional externally owned accounts (EOAs), account abstraction allows users to create and manage their accounts using smart contracts. This has a number of potential benefits, including improved security, enhanced privacy, and increased flexibility.

What is account abstraction?

Account abstraction is a concept that, at its core, aims to simplify the user's interaction with blockchain networks. It is a transformative approach that seeks to mask the technicalities of blockchain operations from end-users. It is making transactions as straightforward as sending an email. Account Abstr. allows users to interact with the blockchain without worrying about the underlying technical details.

How does account abstraction differ from the traditional model?

In the traditional account model, each user has an EOA. EOAs are controlled by private keys, which must be kept secret in order to protect the user's funds. Acc. abstraction allows users to create and manage their accounts using smart contracts.

Historical Context

The journey towards acc. abstraction began with the first generation of blockchain technologies, characterized by their "one-size-fits-all" approach to account management. Bitcoin, for instance, introduced the concept of accounts and transactions in a form that was accessible to tech-savvy individuals but remained perplexing to the layperson. Ethereum expanded on this by introducing smart contracts, which opened the door to programmable transactions but did not alter the fundamental account structure. The idea of acc. abstraction has been discussed in the Ethereum community for several years as a part of various Ethereum Improvement Proposals (EIPs), particularly as a feature to be potentially implemented in Ethereum 2.0. It is a direct response to the need for a more versatile and user-centric design that can cater to a broader audience and spur the widespread adoption of blockchain technology.

The Technicalities of Account Abstraction

Account abstraction is not merely a theoretical construct but a technical innovation with specific mechanisms underpinning its operation. In essence, it alters the way transactions are initiated and executed within a blockchain network.

How Account Abstraction Works

Under traditional blockchain models, initiating a transaction involves an externally owned account (EOA) signing a transaction with a private key. This transaction is then broadcast to the network for validation and inclusion in the blockchain. Account abstraction, however, replaces this process with a more flexible one. Here, every account is a smart contract, and transactions are messages sent through these contracts. These smart contracts can encode complex rules for transaction validation, beyond what EOAs can do, such as multi-signature requirements or conditional transactions based on certain triggers.

The technical crux of account abstraction lies in the smart contract’s ability to define its own conditions for transaction execution. This means that user accounts can have unique security protocols or automated operations without the user needing to understand the underlying smart contract code.

Hey! Are you interested in the latest technologies in the blockchain area? be sure to read the article 'Top Zero-Knowledge Proof Projects to watch in 2023'

The Benefits of Account Abstraction

The implications of account abstraction are profound, offering a range of benefits that can enhance the blockchain experience for users and developers alike.

Improved User Experience

One of the most significant advantages of account abstraction is the improvement it brings to user experience. By abstracting away the complexities of key management and transaction rules, it presents a more intuitive interface for users.

Enhanced Security Features

Account abstraction also allows for the implementation of advanced security measures. Since each account can define its own logic, users can tailor their security settings to their specific needs. For instance, one might set up an account that requires additional verification for transactions exceeding a certain value or restricts withdrawals to certain addresses.

Future Implications

The future implications of account abstraction are vast. As the technology matures, it could become a standard feature of blockchain networks, potentially making the current distinction between user accounts and smart contracts obsolete. This could lead to a new wave of blockchain applications that are both powerful and accessible, bringing us closer to the vision of blockchain technology as a seamless part of everyday life.

Challenges and Considerations

Technical Limitations

One of the primary technical challenges of Acc. abstraction lies in its integration with existing blockchain protocols. Current networks are optimized for the EOA model, and introducing a new account structure necessitates significant changes to the core protocol. This includes modifications to the way transactions are propagated in the network, how gas fees are calculated, and how the state of the blockchain is managed. Ensuring that these changes do not compromise the network's performance or security requires careful planning and extensive testing.

Compatibility with Current Systems

Another consideration is the compatibility of account abstr. with the vast ecosystem of existing blockchain applications and services. Wallets, exchanges, and other services have been built around the traditional account model. Transitioning to an acc. abstraction model will require these services to update their infrastructure, which may be a complex and resource-intensive process. Furthermore, there is a need for standardization across the industry to ensure that different implementations of account abstr. can work seamlessly together.


Acc. abstraction represents a significant leap forward in the quest for a more user-friendly blockchain experience. By streamlining the transaction process and offering enhanced security features, acc abstraction has the potential to make blockchain technology more accessible to a broader audience. However, the path to widespread adoption is not without its obstacles. Technical challenges and compatibility issues must be carefully navigated to integrate it into the existing blockchain landscape.

Key Takeaways

How to Add Gnosis Chain to MetaMask: A Simple Tutorial


03 Nov 2023
How to Add Gnosis Chain to MetaMask: A Simple Tutorial

As the cryptocurrency ecosystem expands, there is an increasing need for various blockchains with distinct capabilities. Gnosis Chain enters the scene, offering a selection of unique characteristics. By integrating Gnosis Chain with MetaMask, users can access a more comprehensive array of decentralized services. We will walk you through the steps to add Gnosis Chain to your MetaMask wallet in this tutorial.


Setting up MetaMask

Before exploring the integration of Gnosis Chain, it is crucial to have MetaMask installed and operational:

  • Download and Install: If you have not done so already, visit the official website to download and install the MetaMask browser extension.
  • Setup Account: After completing the installation, create your account and make sure to remember the provided seed phrase. This phrase serves as your primary means for account recovery, so keep it secure.
  • Secure Your Account: Protecting your MetaMask account is of utmost importance. Use a robust password and never disclose your seed phrase to anyone.

Gnosis Chain

It is always helpful to have a basic understanding before incorporating any new blockchain into your wallet:

  • Gnosis Chain Overview: Gnosis Chain, a rising star in the blockchain world, brings a range of decentralized solutions to the table, such as prediction markets and decentralized trading platforms.
  • Benefits & Features: Among Gnosis Chain's main selling points are its accelerated transaction speeds and potentially lower fees when compared to congested networks.

Tutorial: How to Add Gnosis Chain to MetaMask

In the top right-hand corner of your browser, you'll find the wallet. If pinned, click on the MetaMask fox icon; if not, click the three dots in the top-right corner. The following screen will appear:

An option to expand the wallet to a new browser page is available by clicking "Expand view:"

This action will launch MetaMask in a new tab:

By clicking on the ‘Ethereum mainnet’ in the top left corner, you can add another network. Click ‘Add Network’

Choose option ‘Add a network manually’

Then, input the information below:

Network Name: Gnosis Chain formerly xDai


ChainID: 100

Symbol: XDAI

Block Explorer URL:

After saving the settings, Gnosis Chain will be added to your network.

The Benefits of Adding Gnosis Chain to MetaMask

With multiple blockchains becoming more common, integrating Gnosis Chain with MetaMask offers numerous advantages:

Expanded Capabilities: Accessing Gnosis Chain through MetaMask opens up a collection of exclusive applications and features inherent to this particular blockchain, which may include unique dapps or cutting-edge financial products.

Diversification: The crypto domain is extensive and constantly growing. By incorporating various chains like Gnosis into MetaMask, you broaden your potential investment opportunities and decentralized application experiences, ensuring no opportunities are missed.

Speed & Cost-Effectiveness: Network congestion and high gas fees on established platforms like Ethereum can discourage many users. Gnosis Chain's architecture has the potential to provide relief through quicker transaction times and more affordable fees.

In summary, as the possibilities within the crypto sphere continue to evolve, tools like MetaMask grant users access to this expanding world. By adding chains like Gnosis, users can stay ahead in this decentralized revolution.


By bridging platforms like Gnosis Chain with accessible tools like MetaMask, individuals not only amplify their engagement with decentralized applications but also fortify their position in this expansive realm. The integration of Gnosis Chain to MetaMask epitomizes the evolution of the crypto landscape – a testament to its ever-growing diversity and potential. As we continue to delve deeper into the decentralized future, tools and integrations like these will undoubtedly play a pivotal role in shaping our digital experiences and opportunities. Whether you're seeking more efficient transactions, diverse dapp interactions, or simply a broader understanding of the crypto ecosystem, this guide's steps open doors to a new horizon.