Real Estate (RE) has traditionally been slow to embrace emerging trends, but things are starting to change. Blockchain technology has been at the forefront of technological advances alongside Virtual Reality, Artificial Intelligence & Machine Learning. These innovations can bring tangible benefits to all parties involved - sellers and buyers and tenants, real estate brokers, agents, and other professionals.
According to Gartner, businesses built on Blockchain technology will be worth $10 billion by 2022. Subsequently, by 2026, the business value added by Blockchain can grow to slightly over $360 billion dollars. The fast-paced digital economy is calling for - Smart Investments in RE, backed by advancements in technology - modern assets with Value Added Service (VAS) - low operating costs with more flexible terms for consumer convenience - space transfer and timeshare. The current real estate ecosystem requires a major facelift to keep up with technological progress.
Rising demand for an all-inclusive space-sharing ecosystem
In the sharing economy, there is an increasing demand for space products that are suited for short term use and with flexible terms and conditions that address the “buyer” market. A niche and fast-growing market are creating a new ecosystem of space products that will address an increasingly mobile world where the demand for ownership based on stringent leases and unfavorable T&C are quickly becoming outdated.
Currently, the demand and supply for Space as a Service are not aligned. The challenge exists in several fronts where Space is defined as a whole in terms of its utilization. Many platforms today are selling blocks of space in Real Estate and/or otherwise through lease and rental options dictated by the “seller”. The “buyer” therefore agrees to the terms and conditions stated by the seller on a fixed price for a specific period of time and space as defined by the owner/seller.
Enter SpaceIt and the Space-Sharing Economy
Based out of the Digital Hub/ICT Centre (City of Novi Sad, Serbia), SpaceIt aims to unlock the full potential of the Sharing Economy by revolutionizing the concept of (Space as a Service) SaaS and bringing a new ecosystem of space services and products not envisioned in this digital economy era.
Space as a Service (SaaS) defines a new paradigm of space products that include VAS, which will address a new ecosystem of space utilization based on increased “buyers” suited needs in the digital sharing economy. SpaceIt brings a new frontier of space products and services modeled towards an increasingly growing demand of the “buyers” suited behavior and needs.
SpaceIt platform allows SaaS customers to precisely tailor their own needs in an increasingly fast-paced evolving and unpredictable digital market and find solutions not limited to the sellers' preference or terms & conditions of space usage.
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About The Author:
Iliya Zaki is the Head of Marketing & Business Development for Moonwhale Ventures. Based in Singapore, Iliya manages the marketing and public relations aspects for Moonwhale as well as clients under advisement. He is also a regular writer for Hackernoon and several other publications such as Investing.com, Daily Hodl, Securities.io, and many more.