:

Blockchaining Real Estate Records

:
A collaboration between America's oldest real estate company and a Grand Cayman software developer that utilises public blockchains is set to revolutionise commercial building records management.

 

Helmsley Spear manages over $7 billion of New York Real Estate. The company is scheduled to collaborate with Hercules SEZC, a George Town, Grand Cayman engineered software developer that develops supply chain management solutions utilising public blockchains. Under the agreement, Hercules will document rent rolls for Helmsley’s commercial leases in a move that is set to bring greater confidentiality to the management and storage of historic building documentation at two properties in Lower Manhattan.



How does the collaboration work?

We all know how secure blockchain technology is, therefore, the collaboration has the potential to change rent roll procedures. The aim is to improve privacy and security. It will also ensure there is a smart contract flow framework that will leave a digital audit trail making things more visible.

 

Helmsley Spear president, Kent M. Swig, believes new technologies can transform the real estate industry, intensify competition, and also crack the complex financial considerations which require an understanding of managing risk, investment and the risks involved. 



So how does Hercules SEZC come in?

Helmsley believes that bringing in Hercules' blockchain-based protocols will allow real estate companies to improve property search processes, record property transactions, maintaining lease and property management information.

 

Helmsley Spear’s Executive, Oliver Swig, believes that the blockchain technology is going to be a critical connection between real estate technology systems and other participants involved in leasing and property management transactions.  This will even be more effective because there will be an open and shared database for all the parties involved.



How will these commands be beneficial?

According to Anthem Blanchard, the CEO OF Hercules SEZC, he believes that once they incorporate these commands into Hercules protocol, the data quality will improve tremendously and ensure that real-time recording and retrieval is possible.



How does this move help Helmsley Spear?

Just as we know, competition is healthy, and it helps companies get more creative in their service delivery. Such blockchain protocols as Hercules are augmented by an open source community which ensures smooth management of value chains which makes companies that use them have a competitive advantage over their competitors.

 

This management protocol makes data management easy to trust and exchanged in the global market at a price of $.32 for every 10,000 data entries which makes it 98% more efficient than other software.

 

 

Other ways of using the Hercules software

As much as the software will be for making shared databases more effective, it has other uses. The software can be used as lease and tenancy solution. How? It will be a secure way to stabilize and improve rental income in a tenancy mix.

 

There are other projected future goals such as stabilising expenditure control functions on taxes, maintenance, rates, risk management, lease document recording rules and strategies, capital improvements, and forecasted cash flow opportunities - which suggest the software may one day become the tool of choice for real estate industry professionals seeking a single-source solution to document management, asset monitoring and financial reporting.



About Helmsley Spear

Helmsley Spear is America’s oldest, continuously operating real estate company and has been a leader in commercial real estate since 1866, evolving from a real estate appraisal company to a full-service firm providing highly-professional performance and bottom-line profitability for its clients. Originally founded as L.B. Goodale, the company underwent three ownership changes with new partners added in the first two decades of the twentieth century.

 

In 2007, an investment group led by Kent M. Swig purchased the firm and began a re- branding and redevelopment of the HelmsleySpear brand name and company as the firm had declined in stature following the death of Harry Helmsley in 1997. Founded by Kent Swig in 1994, Swig Equities, LLC, is a full service real estate development, investment and management company with a proven track record in the development of over $3 billion of residential and commercial properties, and operating companies. Swig Equities provides Helmsley Spear with logistical and operational support.

 

 

About Hercules SEZC

Based in Grand Cayman, Hercules is a Special Economic Zone Company (SEZC) whose work is developing supply chain management software that utilizes public blockchains. The company makes use of HERC tokens to decentralize and power the platform. These tokens are needed to record and validate the supply chain data. It offers transparency as it enables its users to identify the items they need tracking with all data entered such as time and date. It is also easy to insert data modules that have information such as audit reports and legal opinions stored in the blockchain. Evidently, it is a great way to identify any discrepancies to eliminate any fraudulent activities such as intentional errors. The CEO IS Anthem Blanchard while the president is Cynthia Blanchard.

 

Article rating:

vote(s).

0 Comments

Write a Comment

:
BakerHicks Restructures and Rebrands DACH Subsidiary BakerHicks has rebranded its European Life Sciences division after integrating it with its operat...

0 Comments | Read more +
:
The Drains of Christmas Future UK wastewater and drainage solutions provider Lanes Group has reimagined "A Christmas Carol" into...

0 Comments | Read more +
:
University of Manchester Clean Room Contract SPIE UK has won an 18-month design, supply, install and commission contract for a clean room at T...

0 Comments | Read more +
:
Solar Power Northeast Annual Conference 2020 (19-20 February, Boston) Siemens Business and manufacturer of power control systems and automatic transfer switches, Russe...

0 Comments | Read more +
:
Circor to Open New Facility in China Control valves specialist CIRCOR International, Inc., has announced the opening of a new centrifu...

0 Comments | Read more +
:
Happy Employees Make for Happy Results Uri Bar-Joseph, Mindspace's Vice-President for Marketing, discusses recent data linking company p...

0 Comments | Read more +
Paul Bradbury:
A New Opportunity for Facilities Managers Tim Barclay, Appello CEO and former COO of BT’s Global Government & Health organisation, present...

0 Comments | Read more +
:
Bringing Intelligence to Buildings the Smart Way Byron BeMiller, director of the Smart Building vertical market with LoRa Alliance IoT ecosystem s...

0 Comments | Read more +
:
Planning for the Future of Data Centers Tim Connor, Principal at Chicago and London based Sheehan Nagle Hartray Architects (SNHA), addres...

0 Comments | Read more +
Oleg Magni:
From Service Provider to Strategic Partner Yunusa Aminu, FM consultant with Dubai-based Gregory & Jones Consultants, makes the case for the ...

0 Comments | Read more +
Buro Millennial:
Consolidating Building Data Under One Roof Matthias Mosig, Real Estate Consulting & Advisory for TÜV SÜD Advimo, looks at how one elite Euro...

0 Comments | Read more +
:
Keeping the Lights On Richard Kirkman, Chief Technology and Innovation Officer with Veolia, explains why a sea change i...

0 Comments | Read more +
Rafael Soldi (www.rafaelsoldi.com):
New Athletic Space Opens in Seattle's Columbia Center Best Practice Architecture reimagined several former retail storefront spaces to design WORKout, ...

0 Comments | Read more +
:
Making Millions Safer G4S is delivering emergency first aid, fire and evacuation safety training to 10,000 employees of...

0 Comments | Read more +
Arlington Research:
The Perfect Video Conferencing Space Rene Buhay, Vice President of Sales & Marketing, EMEA and APAC for AVer Europe, provides advice f...

0 Comments | Read more +
:
Enhancing JW Marriott Singapore’s Food and Beverage Operations A collaboration between JW Marriott Singapore South Beach and Ecolab has helped the hotel, alread...

0 Comments | Read more +
: Rob Charlton.
‘BIM for Good’ in the Spotlight Visitors to BIM Show Live 2020 (Newcastle, 26-27 February, 2020) will be treated to a series of d...

0 Comments | Read more +
:
Recruitment at Teknologia 19 (5-7 November, Helsinki) Leading Nordic technology event Teknologia 19 will open with an "Employer of the Future" day allo...

0 Comments | Read more +
:
Record Numbers Attend CIFF Shanghai Hongqiao The 44th edition of FM Industry partner event, the China International Furniture Fair (CIFF), has...

0 Comments | Read more +
: Sheikh Ahmed at today's opening ceremony at the Dubai World Trade Centre (DWTC).
FM Expo 2019 FM Expo, the largest event dedicated to the Middle East's facilities management industry, has off...

0 Comments | Read more +
:
Destructive Workplace Paper Waste Mark Harper of HSM UK provides insight into how and why businesses need to introduce and maintain...

0 Comments | Read more +
:
Tips for Digital Marketers in 2020 Cathy Spears explains why modern businesses require a clearly defined digital marketing strategy,...

0 Comments | Read more +
:
The Impact of Brexit on Future Workspaces Steve Marsden, Co-founder of flexible workspace search agency Domain Office Search considers the ...

0 Comments | Read more +
: PricewaterhouseCoopers (PwC) headquarters building at 7 More London Riverside near Tower Bridge.
What Property Owners Can Learn from London’s Most Sustainable Office Spaces With sustainability on everyone’s minds, more and more businesses and large companies are making ...

0 Comments | Read more +
Brexit

0 Comments | Read more +
Property Management Officer, P3 UNITED NATIONS

0 Comments | Read more +
Service Delivery Manager MINISTRY OF JUSTICE (MOJ)

0 Comments | Read more +