Millennial Blockchain is bridging the gap between legacy real estate transactions and blockchain innovation; serving as an on/off ramp for KYC compliant clients to transact in USD, stablecoins, and approved cryptocurrencies.
Our solution eliminates friction in the real estate transaction process for buyers, sellers, banks, and lenders making use of digital assets. Millennial Blockchain facilitates insured, secure real estate transactions with cryptocurrency while actively adapting to regulatory standards.
Our Crypto Solutions
The lack of infrastructure for crypto settlement highlights the real estate industry’s need for innovation. Increased transparency, optimized speed, and better security have increased demand for settlement in cryptocurrencies.
Millennial Blockchain is a forward looking service offering settlement in digital assets, in partnership with Millennial Title, an industry leading title company operating in 20 states.
Millennial Blockchain advises clients on transacting in real estate with digital assets. We offer guidance regarding the technology necessary to exchange crypto for fiat during the real estate settlement process.
We also offer insight on the current regulatory environment and compliance standards. Our team bridges the gap between traditional real estate industry experience and technical expertise.
Founded in 2011, BitPay saw the potential cryptocurrencies had to revolutionize the financial industry: making payments faster, more secure, and less expensive. Their solutions transform how businesses and people send, receive, and store money around the globe. They now have plans to use the distributed ledger technology to create more tools and services which anyone can use to enjoy the innovations.
The Crypto Realty Group is a Los Angeles, California-based firm specializing in conducting real estate transactions through cryptocurrency. As a team of internationally-recognized realtors and blockchain experts, The Crypto Realty Group is armed with years of experience with both real estate transactions, blockchain and cryptocurrency, and, crucially, how to complete real estate transaction with cryptocurrency.
Millennial Blockchain is establishing relationships with specific banking institutions that will assist with treasury management for our crypto escrow solution. In the interim, we have onboarded with Bitpay to accept cryptocurrency for real estate settlements.
The Benefits of Cryptocurrency
Cryptocurrencies have native technological advantages over legacy infrastructure for the settlement of funds. Blockchains offer fast and final settlement where proof of funds is verified on a public ledger. Decentralized and transparent authentication of identity stands to reduce wire fraud and due diligence costs. Furthermore, USD-denominated stablecoins allow the utilization of this technology without exposure to the risk profile of crypto assets.
While stablecoins can limit exposure to volatility in the short term, cryptocurrencies have performed exceptionally well over the last decade. Early adopters of cryptocurrency have become overallocated because of its success, meanwhile property owners are underexposed to crypto assets. Millennial Blockchain sees this juxtaposition as an opportunity for both digital asset investors and commercial real estate owners to diversify their holdings.
Mint Your Real Estate Title on the Blockchain
Using our unique process you can mint, store and transfer title on real property using NFT technology!
Frequently Asked Questions
What is Millennial NFT?
Millennial NFT is an immutable record of ownership that has been verified through the traditional title process and recorded or “minted” to the blockchain. It offers the ability to reduce the possibility of outdated, wrongly recorded, or missing records via a comparison to the official record with what is recorded and agreed to, on blockchain.
As the real estate/blockchain ecosystem evolves into transaction and recordation repositories, the Millennial NFT can act as a foundational document to define the asset as it is: sold, partitioned for ownership or investment opportunities, syndicated, defined in a smart contract, or whatever else is on the horizon.
When do you “mint” a Millennial NFT?
The Millennial NFT best represents the informational understanding for the buyer of a property. As such, we only “mint” or produce the Millennial NFT for:
• New “verified” buyers, after they complete a real estate transaction or closing.
• Existing “verified” homeowners, who want digital representation of their real estate asset on the blockchain.
In either case, “verified” is defined as all information being confirmed by Millennial Title, a national, full service, title & escrow company.
What happens to the Millennial NFT when I sell my home?
You have the option to dispose of the NFT yourself via the “burning” process that exists for blocks on the chain, or you can return the NFT to Millennial for disposition via “burning.” This means that the block is sent to an inaccessible address and is removed from circulation and verification on the blockchain. Millennial NFT offers to discount both Traditional Title and NFT Services to returning clients for any subsequent real estate transactions.
How long does the process take, once the Millennial NFT form is submitted?
In most cases, the process and return of a “minted” Millennial NFT to your wallet (client supplied), after submission, verification, and approval is 3 business days (72 hours).
What do I need to get started?
We first recommend you visit and understand the traditional title services offered by Millennial Title (www.millennialtitle.com). We then suggest reviewing our introduction and information regarding real estate and blockchain (www.millennialblockchain.io) Clients need a crypto wallet (not supplied) that is compatible with Open Sea and accepts Ethereum-based digital assets. Once you have established your wallet and have its unique address, all that is needed is the closing information. After you have completed the purchase and closing process, you can go to our transactional website (www.millennialNFT.io) to fill out the informational form and submit for verification and “minting.”
Can I legally transfer property via an NFT on the blockchain?
Not yet, but we believe it’s coming!
Not long ago, stock ownership was defined by a paper stock certificate that needed to be physically exchanged to complete a transaction. Interest bearing bonds were defined by pieces of paper and removable coupons. Seems arcane, doesn’t it?
What do stock certificates and bond agreements have in common? They define ownership in a standardized and accepted manner. Each asset evolved from physical delivery and processing into an electronic repository of exchangeable information.
Take the first step with Millennial NFT to define a new, standardized, and evolving format in digital transformation as it relates to real estate and blockchain understanding.
What is blockchain technology?
Blockchain technology refers to the transparent, publicly accessible ledger that allows for the secure transfer of ownership of units of value using public key encryption and proof of work methods.
What are the differences between blockchain and cryptocurrency?
Cryptocurrencies are an alternative to fiat (traditional paper) money. Blockchain is a distributed database. Blockchain has become closely associated with crypto because it powers the currency: it is used to transfer currency between users. But blockchain can be used to transfer all kinds of things including property ownership rights.
How does blockchain work?
When a transaction occurs on the blockchain, it is grouped in a cryptographically secure “block” with other transactions that occurred within the same time frame. The block is verified and linked to a previously verified block, creating a chain of blocks.
How do I purchase a property with crypto?
First, we’ll need to verify funds. We use a payment processor and escrow company that only accepts BTC, BCH and ETH. There are also collateralized loan options. Most transactions are crypto to cash, unless the seller is willing to accept crypto. The escrow process is the same as a traditional transaction with terms and contingencies agreed to by the buyer and seller.
How is the price determined?
The purchase price is always determined in Fiat (government-backed currency), e.g. if the purchase price is $1,000,000, then the market value of Bitcoin will equal $1,000,000 at the time of closing. If the transaction is written as crypto to crypto, explicit instructions will be written into the purchase agreement stating that the buyer and seller agree to the market fluctuations after the close of escrow and that the buyer is no longer responsible for those fluctuations.
What are the benefits of blockchain?
The most commonly cited benefits of a blockchain are trusted data coordination, attack resistance, shared IT infrastructure, tokenization, and incentivization. Blockchain’s ability to safeguard personal information, reduce intermediaries, unlock digital assets, and potentially open the economy to more participants.
How does blockchain prevent hacking?
While we cannot say blockchain is 100% hack-proof, the information it stores goes across a network of computers, so the task of compromising data becomes much more difficult for hackers. Instead of having to breach just one server, falsifying a balance or making a fraudulent transaction on a blockchain can only be achieved if the majority of the network has been compromised. And because the network can consist of thousands of computers, it is impractical to attack.
If you are interested in conducting your next real estate transaction in crypto we invite you to reach out to us with your questions, thoughts and projects. Fill out the form below and someone from our team will contact you.