Let’s state that a new technology is developed that can enable several parties to transact a property deal. The parties get together and finish the details regarding timing, special conditions and finances. How can these parties know that they could trust each other? They’d need to confirm their arrangement with third parties – banks, authorized teams, government registration and so forth. This brings them back to square one in terms of using the Ledger Nano IOTA technology to conserve costs.
At another phase, the third parties are now invited to join the real estate agreement and supply their input signal while the trade is being made in real time. This lessens the use of the middleman significantly. If the price is that translucent, the middleman may even be removed sometimes. The attorneys are there to reduce miscommunication and suits. If the conditions are revealed upfront, these dangers are significantly decreased. In case the financing agreements are procured upfront, it’ll be understood beforehand that the deal is going to be compensated for and the parties will honor their obligations. This brings us into the final stage of this case. In the event the conditions of the deal along with the agreements are completed, how will the deal have been compensated for? The unit of measure is a money issued by a central bank, so coping with all the banks once more. If this occur, the banks wouldn’t permit these deals to be finished without some type of due diligence in their end, which would suggest delays and costs. Is the tech that helpful in generating efficacy up to this stage? It isn’t likely.
What is the alternative? Produce an digital currency that isn’t just as translucent as the bargain itself, but is in reality part of the details of the offer. Whether this money is synonymous with currencies issued by central banks, then the only requirement remaining would be to convert the digital money into a popular currency such as the currency or the U.S. dollar that may be achieved at any moment.