028 – Omid Malekan – Blockchain Explainer-in-Chief

Explainer-in-Chief

Blockchain explanation, applications, and possibilities…

Explainer-in-ChiefOmid Malekan, author of “The Story of the Blockchain: A Beginner’s Guide to the Technology Nobody Understands“, blogger, and Explainer-in-Chief at Triple Smoke Stack (a publishing, consulting and educational firm that specializes in bringing the latest advancements in blockchain technology to traditional companies) joins Thomas Kutzman and Scott Pollack in the MouthMedia Network studios powered by Sennheiser. Presented by Prevu.

In this episode:

  • Malekan on Blockchain – technology that gives digital items physical propertiesExplainer-in-Chief
  • Physical things can only exist in one place at one moment in time
  • Because of crypto tokens big public blockchains epxploded in value
  • More and more industries are looking at blockchain, including real estate
  • There are many applications beyond crypto currency
  • Before the Internet, restrictions of physical existence worked but blockchain reduces friction or restrictions
  • Digital items are replicable
  • Music is a great example of an application of blockchain that can be of value
  • Blockchain exists on a spectrum, with varying degrees of how to apply it, and is by nature often decentralized
  • A process to keep you honest
  • A consensus mechanism
  • Bitcoin is slow (only a few transaction per second)
  • Losing a key/passowrd to access, the value is lostExplainer-in-Chief
  • Real Estate doesn’t change hands without people knowing about it, likely a blockchain run by government for property in the future
  • Using blcokchain to potentially democratize ownership and mortgages
  • How REITs were like an early tokenization, good step in that direction
  • While REITS are cumbersome and expensive, can take the REIT model and issue tokensi instead, a tradeable avatar
  • A lot of creativity possible
  • Like a co-op model, real estate distilled down to shares
  • A home is an indivisible asset, tokenization can enable that, financing aspect – you go to one bank, one loan, future can offer breaking debt into pieces each with other people
  • Fractional ownership, fractional debt
  • Nomadic lifestyles enabled by fractional ownership shares in properties to live in places not regular residence, like a timeshare
  • Creatively applied can improve on good parts, lose bad parts
  • Airbnb a perfect example of Web 2.0 kind of business, someone builds platform, people use it, and most of value goes to owner of platform.
  • Whether a value of Blockchain can be to mediate disputes
  • How you can determine cryptocoin has value despite being digital
  • Becoming The Explainer in Chief
  • Model United Nations, learning to debate, valuable life lessons that it was a popularity contest, not all about substance, from moment you walk into the room relationships
  • Artifical Intelligence replacing jobs

006 – Richard White of Goodlord – A New Set of Rental Rules

Goodlord

A platform for transactions and “paperwork” for UK home rentals…

GoodlordRichard White, CEO/Co-Founder of Goodlord (the first digital system that pulls together the whole tenancy setup process) joins hosts Thomas Kutzman and Scott Pollack from the United Kingdom. Recorded in the MouthMedia Network studios powered by Sennheiser. Presented by Prevu. Special thanks to Tom Lambert of Global Founders Capital.

Overcoming industry fragmentation, whether the UK market is more receptive to innovation, and umbrella agencies vs. agents

White discusses taking on a great opportunity, and initiating what he believes can be a global movement, the nature of the rental market in the UK, the changing rental experience, what he saw as an estate agent, how in this day and age so much of the rental market is “super fragmented”, the continuing use of antiquated processes such as fax machines, questioning why the industry is not more modern, and his determination to do something about this. He reveals how he looked at discovery, how to find property, how manage it, but no one making transaction easy or tying it all together. He and his co-founder figured it was the right place to start, from signing, to exchange of cash, to due diligence. Why the UK may be more receptive of real estate tech than other markets. The Goodlord software platform, its segments including emerging (1-3 offices), then 3-13 offices, and 13+, and the division based on how big the agency is and how many transactions. White describes how in the UK there are more umbrella companies, not individual agents.

Building a new set of rules, creating ease and transparency, and finding a co-founder

Next, White reviews the goal, how Goodlord can’t sell product only to estate agents, how they need to take key stakeholders and establish an understanding of a new set of rules. Plus, the challenge of having to convince people that electronic signing was legal. The impact on the industry, driving things forward, and the effort to making people raise their game, making renting as easy and transparent as possible for everyone, going from 11-130+ people in the business, how scaling a business is difficult, finding his co-founder via serendipity from renting a house together, and the dynamics of friends vs. family as business partners.

Working with investors, selling the vision, and cryotherapy

How a large investment changes the dynamics of business operations and focus. Selling the vision, getting the MVP out the door, and dealing with potential investors. Personal questions cover struggles with school, learning problem solving, a surprising app on his phone, cryotherapy, football and cricket, Outward Bound, and white water canoeing. And, taking stock of assets, how a business owner is the biggest asset, and the importance of developing an arsenal of thing you know.