Tokenizing Homeownership to Make It More Achievable for All
Homeownership should be an achievable goal. For many, it sure seems unattainable. The average home price in the U.S. hit a new record in 2022, reaching $348,079. Homebuyers seeking for assistance in reducing costs may find a surprising new ally in blockchain solutions.
As the world increasingly digitizes, blockchain technology and distributed ledger systems continue revolutionizing industries. One such area that has seen significant disruption is the real estate market. In this episode of Gossip about Gossip, Zenobia Godschalk looks at Quarter, a platform that uses distributed ledger technology to enable fractional ownership of real estate properties. Shannon Diesch, Quarter’s CEO, sits in with Godschalk to discuss how Quarter is helping reduce the high costs of home ownership.
How Does It Work?
To ensure the security and transparency of the transactions, Quarter uses blockchain technology to tokenize the assets, converting the property rights into digital tokens that can be traded and tracked on a decentralized ledger. Quarter uses a multi-token ecosystem, which includes asset tokens that entitle the investor to their fair share of rent, appreciation, and sale proceeds, and HPI tokens, which track the overall market performance of the platform and distribute payments to the owners of the asset tokens.
Godschalk and Diesch’s conversation includes the following:
- How Quarter connects homebuyers with investors to purchase a percentage of a property, resulting in 50% cheaper costs than traditional mortgages
- Quarter’s tokenization process of properties on the blockchain allows multiple owners to share in a property’s success while reducing the barriers to entry for new homeowners
- Quarter’s partnerships with TOKO and Hedera, which provide transparency and ease of access to real estate investments
Shannon Diesch is the CEO of Quarter Homes, a company offering a unique homeownership approach. She is a seasoned professional with a background in real estate, finance, and technology, and she leverages this expertise to drive the company’s mission of making homeownership more accessible. Shannon is known for her innovative thinking and commitment to creating sustainable housing solutions.