The newly formed “International Bitcoin Real Estate Association” (IBREA) intends to “take real estate from the 17th to the 21st century” with the help of Bitcoin. “By using Bitcoin, we can reduce costs, stamp out fraud, speed up transactions, democratize investing, increase financial privacy, internationalize markets, reemphasize equity, and make real estate a liquid asset,” explained the founders.
The association will work to establish new standards for the real estate industry, and to implement solutions for payments, escrow, and titles on the blockchain. IBREA’s first corporate member is iNation, a company created earlier this year in order to allow the storage of legal documents inside the blockchain. The company’s co-founders are members of the IBREA board.