(We’re listed in the directory, a featured company in this industry report, and our Founder & CEO Nathan Wosnack is a Regional Chair for Toronto Canada.)
Vienna, July 16th, 2020
FIBREE — the Foundation for International Blockchain Real Estate Expertise, presents today its annual global industry report on how blockchain technology is being implemented in the real estate industry. It is the second year in succession this report is being released by FIBREE. The hype around blockchain that we still felt last year eased off dramatically. This is easily proven with the numbers of blockchain related real estate products we found this year: fewer than 300 compared to last year when we still listed more than 500 products. The upside of this development is that we are now able — with less noise around the technology — to focus on delivering true value to the industry.
The FIBREE Industry Report highlights that blockchain is not just a local phenomenon. Blockchain products for the real estate industry are being offered in 50 different countries across the world. Europe has redeemed North-America as the leading continent in this field, but the USA still remains the country with most initiatives. Other leading countries completing the global top-10 are UK, Switzerland, Germany, Australia, Canada, Netherlands, Spain, China and Singapore. This shows that the action is happening worldwide.
Looking at the most important cities and regions, we can see a slightly different picture to last year’s outcome, but still come to the same conclusion that most products are found in the global financial centers New York, London and Singapore. Just the Swiss city of Zug kicked out the latter of the top-3 ranking. Looking at the remaining cities in a top-20 ranking we can see that they are equally spread between Europe and the USA. Melbourne and Brisbane are the only two cities from the Asia and Pacific region which made it into this years’ ranking.
When compared with last year’s findings, we notice a shift away from solutions to invest and finance (tokenization, from 58% in 2019 to 47% in 2020) towards other use cases for the real estate sector. These other solutions can somehow be categorized and ranked: Offering market and platform services, Building Technologies, Manage and Operate, Research and Valuate, Plan and Build or Smart City solutions. The biggest challenges still lie within the market’s regulatory boundaries and secondly that stakeholders of the real estate industry still need time to really understand the impact of blockchain technology.
Of all product suppliers, 48.1% stated that they are already in a growth stage, which is a significant increase compared to the 7% for this category in last year’s survey. Another 33.3% are currently in a seed-stage, 22.2% see themselves in a start-up stage. A majority of these organizations have their MVP or working Proof of Concept ready and receive positive responses from market authorities or established partnerships with market parties. This shows that step by step these products are entering the market.
The industry report shows the state of blockchain in all the countries where FIBREE is represented. During the last year the organisation of FIBREE managed to further expand relatively fast. Today it is active with 97 regional chairs at 73 locations in 30 countries spread around the world. All regional chairs are carefully selected professionals leading their own networks of dedicated experts in real estate, blockchain/IT-technology, legal, government or academic research. FIBREE started working groups for topics like tokenization, land registry, unique object identifier, legal challenges, governance and COVID-19 response that are being run remotely across time zones and countries. The organization collaborates with associations, governmental bodies, universities, companies and startups around the world on all these topics and share the gained knowledge across our network.
“I’m proud to see that FIBREE is widely acknowledged as a professional and reliable organisation in the field of blockchain technology for the real estate sector,” said Achim Jedelsky, President of FIBREE.
FIBREE — the Foundation for International Blockchain Real Estate Expertise, founded in July 2018 as a non-profit organization, aims to be the leading international network for exchanging knowledge between the real estate industry, the IT sector and blockchain technology. In 2 years, the organization has grown into a global network active in all continents with a team of 97 regional chairs at 73 locations in 30 countries. FIBREE brings together already more than 6,000 dedicated real estate professionals, blockchain specialists, legal experts, governmental representatives and academic or corporate researchers from around the world to exchange their expertise, considerations and best practices. With its Academic Advisory Board and different specific topic-oriented global Working Groups, FIBREE creates comprehensive and realistic expectation patterns that enable the real estate market to gradually discover and exploit the true potential of Blockchain technology.