Alternative investment firm Colchis Capital has partnered with infrastructure provider Bison Trails to explore potential use cases for Proviance blockchain in enhancing property management services, demonstrating another promising use case for distributed ledger technology.
Bison Trails, through the partnership, is to provide San Francisco-based Colchis Capital with node infrastructure that it can use to advance its investment strategies, the two companies announced Tuesday. As a major provider of Proviance blockchain infrastructure, Bison Trails will also help Colchis Capital use technology to achieve greater efficiency and transparency in the management of real estate investment.
The investment manager is developing his own technology stack to provide interoperability with Provurance. The technologies will work together to provide investors with real-time reports on cash flows and returns without the costs associated with generating large data flows. The partnership also paves the way for Colchis to begin exploring future asset tokens.
Bison Trails has been supporting the Provenance blockchain infrastructure since July. Proviance, an open source ecosystem for developing financial services and DeFi applications, uses Bison Trails’ infrastructure to strengthen its network and provide support for cryptocurrency holders managing validation nodes.
Bison Trails was acquired by Coinbase for an undisclosed amount in January 2021.
Blockchain technology has been touted as a potential solution to many of the challenges affecting the real estate industry – challenges related to trust, transparency, contracting processes, and cost. The technology is being floated as a way to democratize property ownership in an industry that is becoming increasingly restrictive for the general population.
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Real estate coding has been talked about for years but has yet to emerge as a notable use case for blockchain technology. That could change over the next five years as small parts of the global real estate market begin to benefit from blockchain solutions. London-based consultancy Moore Global recently made a conservative prediction about how real estate cryptocurrency could reach $1.4 trillion in the next few years.
