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Cryptocurrency, Block Chain & Real Estate


The Centre for Digital Assets and Democracy held a first event last week.


The point made was that digital has transformed the world, we are now part of a world community.


In terms of assets, before these were objects and places, tangible things, but now that is not the case, it is more complicated and virtual.


The other point made was that while we maybe based in one democracy based on a place, new systems and currency exists which sits beyond this, there was talk about bitcoin, Dow, block chain, AI, Web3.


When I asked who is accountable and how the governance worked, they said that is the thing, no one knows and governments are now trying to step in, but that may not be correct .


The girl in the photo is Philippa Cummings Cook and a A-level student who spoke.


The Centre for Digital Assets and Democracy


The founder is Claire Cummings, she is a leading solicitor specialising in crypto law and regulations and is the managing partner of Cummings Pepperdine LLD, a London law firm at the forefront of the crypto and blockchain revolution.


Jennifer Ewing leads strategy, she has over two decades experiences in international capital markets, she has worked in corporates as well as institutional and family offices.


Dr. Ann Sofie Cloots is an affiliate lecturer at the University of Cambridge, where she teaches on blockchain and law, she is also general counsel at Summer.fi, a UK based decentralised finance (DeFi) company.


Han Verstraete also spoke at the event he started in traditional finance at Goldman Sachs, which he left in 2001 to start his first ventures in the UK two of which he exited, he has been in Crypto since 2013 .


Cryptocurrency


Bitcoin, often described as a cryptocurrency, a virtual currency or a digital currency - is a type of money that is completely virtual.


It's like an online version of cash. You can use it to buy products and services, but not many shops accept Bitcoin yet and some countries have banned it altogether.


However, some companies are beginning to buy into its growing influence.


In October last year, for example, the online payment service, PayPal, announced that it would be allowing its customers to buy and sell Bitcoin.


Bitcoins are worthless without the private codes printed inside them.


Blockchain


Blockchain powers cryptocurrencies like Bitcoin, the blockchain acts as a universal record of every Bitcoin transaction ever made.


The blockchain is a ledger, or log, of those transactions and users on the network collaborate to verify new transactions when they occur.


They're rewarded financially for this effort - an enterprise known as "Bitcoin mining".


The basic idea, of a ledger of information distributed around lots of different users instead of held centrally, has provoked a lot of interest.


A new way to doing business.


I am not an expert in this area, however, with a world community, that is more transient, having world currency does have appeal such as Bitcoin.


This is not an everyday real estate conversation, although having met people who deal in short and long-term lettings, some people have talked about using Bitcoin as a way for customers to pay.


I expect in the future, Bitcoin to be a developing area in Real Estate and Blockchain may feature more as well.


Sarah Chaudhry

Director

AMSI, Surveyor School and also the Property Practice

by Surveyor Store Ltd

07521 085400

www.surveyorstore.co.uk

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