Blockchain Home Registry (BHR) launched today to usher in a new era of collaborative innovation in the real estate industry powered by Web3 technology. BHR is a decentralized finance (DeFi) standard and platform that allows homeowners to claim a verified non-fungible token (NFT) of their property, giving them privacy-controlled access to a permanent, transferrable historical record of their home. New data (ownership history, maintenance/renovation records, solar potential, etc.) is added to every property on BHR by integrating organizations across the real estate ecosystem, allowing homeowners to learn more about their home over time. Both homeowners and organizations can monetize the data they each add on their own terms.
BHR is spearheaded by the team at Torii, the fast-growing venture-backed real estate technology company. "We’re thrilled to bring Web3 technology to the entire real estate industry, providing a collaborative standard for all stakeholders, while keeping homeowners at the center of it all. They own their homes, so they should own their data, as well," said James Rogers, CEO of Torii.
The more data that is added to the BHR network, the more homeowners will learn about their most significant asset. This will lead more owners to claim, thereby encouraging even more integrations to be built. "The real estate industry has always been highly fragmented and overly protectionist. It’s time for that to change, and BHR creates a really powerful flywheel effect to achieve that where everybody involved wins," noted Rogers.
Integrations will range from title companies sharing rich historical data with homeowners, to insurance providers streamlining their underwriting process, to lenders building toward a one-click approval process. "The possibilities for innovations on top of BHR are truly endless. Each day we hear about new ideas from organizations that want to be a part of the system, and to help the industry modernize," added Rogers. "We look forward to collaborating with all of the incredible companies and teams out there trying to make it easier to buy, sell, and own homes." BHR is available now for all homes in the US, and eventually will be rolled out globally.
For more details or to claim your home, visit the BHR Website.
