1. Team 6 Diya Mathew, Hunter Rudd, Kevin Gannon, Nandita Beri
PROPCHAIN
Team 6
Diya Mathew, Hunter Rudd, Kevin Gannon, Nandita Beri

2. Current property purchasing process puts the sellers and buyers at risk
Ownership Transfer & Escrow Payments
Steps in Purchase
Hire a real-estate agent
Find the right property
Draft a contract
Inspection & Appraisal
Post Sale Issues
Players Involved
Buyer
Agents
Buyer
Agents
Buyer
Agents
Lawyer
Notary
Buyer
Seller
Agents
Inspector
Appraiser
Buyer
Seller
Agents
Insurer
Lawyer
Buyer
Insurer
Lawyer
5.5 million houses sold last year; market expected to grow at 4%.
1.1 million home buyers wish they had better inspection, prior to purchase.
Keeping track of home improvement, repairs and maintenance is very inefficient, costly and inconvenient.
Misaligned incentives
Superficial knowledge of house
Time consuming
Insufficient information
> $300
Hidden problems undetected
Major Inefficiencies
Managed by 3rd party escrow account
Faults uncovered
Insufficient information for repairs

3. Inspectors & Appraisers
Solution: Private, Permissioned Blockchain
Propchain
Parties to a transaction verify and publish to the chain
Third-parties validate through cryptography to ensure immutability through nested transactions
Trustworthiness provided by consortium members having competing interests and civil and criminal liability
A single blockchain is created for each property thereby serving as an immutable record of relevant activity related to that property
Property Owners
General Contractors
Real Estate Agents
Permissioned, multi-party verification and security
Material Providers
Inspectors & Appraisers
Sub-contractors

4. Monetization Strategy
General Contractors / Builders
Real Estate Agents
Inspectors / Appraisers
Subscription Fee
Decreases admin fees
Reduces expenses attributable to overages
Fee per property
Accurate Pricing
Accelerate deal flow
Reduces time and effort spent on valuing the property
Value Proposition

5. Risk Analysis
RISKS
STEPS TO MITIGATE
Success of platform contingent upon reaching a critical mass of users
Offer services free to buyers
Free access to government/policy makers
Limit to details that can be provided (cannot solely reply upon)
Gain input from multiple stakeholders / multiple perspectives
Complexity of inputs / technology intimidating to inexperienced users
Implement a highly user-friendly, scalable interface (customizable views, filtering capabilities, etc.)

6. APPENDIX

7. Blockchain technology provides the best solution
Home ownership details & Price consensually shared and synchronized across network. Home inventory details shared with permissioned users.
Distributed Ledger
Remote independent writers
Existence in absence of trust
Disinter-mediation
Economic Benefits
Builders: Reduced cost due to lower wastage
Buyers/Sellers: Better info. for decision making
RE Agents: Quick and transparent negotiations
Cryptographically secured transactions by builders, home owners etc. benefit RE agents, home buyers in future.
Degree of inspection needed reduced greatly.
Some administrative staff for builders and suppliers no longer required.
Consensus network with immutable transactions and timestamps to serve as evidence in case of disputes.

8. Example: Private, Permissioned Blockchain
Propchain
Publicly Visible
Property ID or Address
Private, Permissioned
Registration of Title
Real Estate Agents
Ownership Change
Property Owners
Permissions to General Contractor
Permitting for project
General Contractors
Sale
Cycle
Multiparty Verification
Account Setup for project
Sub-contractors
Materials Billing
Permissions to Sub-contractor
Material Providers
Installation Services Rendered
Inspectors
Verification of work
Valuation & Sale Preparation

9. Example: Private, Permissioned Blockchain
Propchain
Property ID or Address
Property ID or Address
Publicly Visible
Private, Permissioned
Registration of Title
Registration of Title
Ownership Change
Encrypted; Hash to Validate
Permissions to General Contractor
Encrypted; Hash to Validate
Permitting for project
Encrypted; Hash to Validate
Owner
View
Account Setup for project
Encrypted; Hash to Validate
Materials Billing
Sub-contractor View
Encrypted; Hash to Validate
Permissions to Sub-contractor
Permissions to Sub-contractor
Installation Services Rendered
Installation Services Rendered
Verification of work
Verification of work
Valuation & Sale Preparation