Ex-Lawyer Unveils Blockchain Powered Real Estate Platform
The new real estate platform MoveGenius, which was based on blockchain technology, has been released with the intention of speeding up the process of purchasing and selling homes. Hannah Nicholson, who previously worked as a lawyer, established the platform. In 2017, Hannah made her first real estate purchase, and over the course of the legal procedure, she found herself upset by the lack of up-front information that was accessible to home buyers and sellers.
Fast forward to the year 2022, and Hannah has to the conclusion that a paradigm shift in approach is necessary in order to favorably affect the experience of millions of individuals who are engaged in the process of purchasing a house.
The goal of MoveGenius is to make the conveyancing process more open and accessible to house movers by providing information that is both more straightforward and more well researched. This is in line with the new law that is about to be enacted, which was explained in the white paper that the government released not too long ago titled “Levelling Up,” and it ensures that potential house buyers have access to more information upfront. According to the findings of the research, eighty percent of purchasers are looking for this.
The platform intends to provide a streamlined onboarding procedure that would, among other things, offer improved information at the moment of sale and give upfront legal packets. This will attempt to establish a “single source of truth” by harnessing the advantages of blockchain technology, with the goal of decreasing the administrative strain on property professionals in the process, as well as minimizing instances of inaccuracy and fraud.
Need for blockchain:
- A single point of truth from which all ownership records and title information may be recorded.
- Transparency among homebuyers, home sellers, real estate agents, and legal professionals
- A passport that cannot be altered for the homeowner.
Of late Hannah applied to and was welcomed into the Satoshi Block Dojo incubator in order to assist in the acceleration of MoveGenius. The Satoshi Block Dojo incubator is a 12-week intensive blockchain-focused program with the goal of helping start-ups to refine their product offering and build their first MVPs on the BSV blockchain. Hannah is excited to participate in the program because she believes it will help MoveGenius.
In “Cohort Two,” the Dojo’s second-ever Cohort, Hannah is one of nine start-ups that have been accepted. Each of the start-up teams receives an initial investment of ten thousand pounds (£10,000), access to an additional hundred thousand pounds worth of services, such as legal contracts and blockchain development time, is introduced to Mentors, and is put through their paces with a new topic focus each week.
All of this will come to a head at the conclusion of the 12 weeks when Hannah and the other teams will present their pitches to potential investors for investments ranging from 150 thousand pounds and above. Craig Massey, a serial entrepreneur, is the one who came up with the idea for Satoshi Block Dojo, which was his 8th start-up overall. Additionally, Craig was the founder of YourKeys, which was later acquired by Zoopla for an unknown sum that was in the multi-millions of pounds.
“We believe that investors will be eager to grab a slice of that pie and are thrilled to have Hannah participate in the program with MoveGenius. This is a wonderful use of blockchain systems and we are certain that investors will want to get involved.”
James Marchant, who was just named Global CEO of the organization, added:
“Because Hannah has a degree in law and extensive expertise in the field, we are certain that MoveGenius is in excellent hands. We are excited to see the first full transactions carried out on the platform as it is a terrific product with enormous potential and we look forward to doing so.”
MoveGenius has recently started its first pilot, which involves cooperating with companies that offer ID verification, as well as surveyors, legal firms, and real estate brokers.