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Why Blockchain Asset Tracking Is Not Just for the Super-Rich

Category : Blockchain

By Sarah Rothrie  This article is originally published at Coincentral.com

diamonds

An Aboriginal community in rural Australia.

A diamond dealer in Antwerp, Belgium.

A used car salesman in the UK.

A pharmaceutical company headquartered in Switzerland.

What could they possibly all have in common?

The answer is the far-reaching benefits of blockchain asset tracking.

One of the most fundamental features of blockchain is its ability to store value – essentially, to create a digital asset. What started off with Bitcoin has now grown into an ever-expanding list of use cases. Some are more tenuous than others.

Those blockchain use cases likely to weather the test of time are the ones that best exploit the most basic functions of the blockchain. Asset tracking, using the ability of blockchain to create stored value and create an immutable record of ownership for that value, is one of those use cases. This article will look more closely at the application of blockchain asset tracking in some different scenarios.

Cases for Blockchain Asset Tracking

Land Registries

There are plenty of opportunities for blockchain within real estate management, mostly based around reducing or eliminating the role of the numerous middlemen. Reduced friction and quicker sales of real estate are clear benefits for day-to-day property trading. Additionally, blockchain-based land registries can create efficiencies within local governments, reducing the spend of tax dollars.

However, the benefits of tracking real estate assets on the blockchain could also have significant benefits for indigenous groups. It would create a legal means by which anyone can prove their land ownership. Land rights are an ongoing struggle for aboriginal people across the world, including developed countries such as Canada.

Indigen is a blockchain platform aimed at protecting rights and property of indigenous groups around the world. The platform token will serve as a donation currency. The company will direct a portion of mined coins to help poor indigenous populations across the globe. Blockchain asset tracking of land occupied by indigenous people is one of the aims of the project.

Indigen

The Indigen homepage

Supply Chains

Supply Chains

Walmart is one example of a big company which has already recognized the potential for blockchain in its supply chain. Supply chains are traditionally highly fragmented. Many companies cannot identify precisely how much product they have in any given place at any one moment in time. This results in inefficiencies, and wasted product due to spoilage or theft.

Some industries have worse problems than losing product. The pharmaceutical industry, for example, is one that suffers from counterfeit products entering the supply chain, usually between manufacturer and consumer.

Governments across the developing world are now clamping down on this. However, it is the developing world that bears the brunt. In Africa, some reports say that up to 70% of drugs sold are counterfeit.

Pharmaceuticals

Problem is, they all look the same…

Blockchain asset tracking can combat counterfeits entering the market. Digital tags can track and trace products throughout the entire supply chain until they reach the consumer’s hands. The tag can contain all necessary attributes. In the case of drugs, it could include the ingredients, date /place of manufacturer and quality control checks. It can update in real time with the route the product has taken through the supply chain.

Vehicle Trading

Car crime has been around as long as the car. From stolen vehicles and parts to getaway cars used in heists to “cut-and-shuts” where two halves of different vehicles (that have usually been written off due to accidents) are dangerously welded together and passed off as one car.

Car accident

The front may be ruined, but the back half is still fine, right?

This goes alongside some of the unethical or illegal practices adopted by used car dealerships like “bait-and-switch” and manipulation of the odometer to reduce the mileage shown on the clock. Buying a car, particularly a used one can be fraught with issues. The buyer has no choice but to trust that the papers presented with the vehicle are genuine.

However, blockchain asset tracking could make the process of buying a used car far more secure. With a blockchain-based record of each vehicle including its parts, maintenance, accident and ownership history, buyers could place far greater trust in the process. They would know that their new car is a genuine model with a clean maintenance history.

Further, AI technology could determine a fair and consistent value for each vehicle, reducing the incidence of used car traders overpricing vehicles.

Gemstone Tracking

The gemstone industry is worth $23bn annually, with diamonds responsible for the most significant proportion of that. However, conflict or “blood” diamonds are a problem that continues to plague gemstone traders. Rough diamonds are sold in conflict zones such as Angola or the Central African Republic. They are smuggled out of the country, cut and polished up and passed off as legitimate.

Many governments in the developing world have passed legislation to prevent the sale of conflict diamonds within their jurisdictions. Therefore, jewelers and traders have an interest in making sure that they are not purchasing blood diamonds.

Diamond ring

How could the happy couple tell if their diamond is legit?

De Beers, is the worlds biggest producer of diamonds, is now looking to blockchain asset tracking to stop blood diamonds from entering the market. The company reported in May that they had successfully trialed blockchain to track ten gems from the mine to cutter and polisher, and then to the jeweler for sale. De Beers plans to make the system available across the entire diamond industry, to eliminate the illegal trade of blood diamonds.

Further Considerations

Two other common elements feature across all of this. They are instant transfers and tokenization of assets.

Instant Transfers

Assets registers on the blockchain will be transferable between parties at the push of a button – and without the need for intermediaries. Smart contracts could also feature – holding funds in escrow until full payment is made. On receipt of payment, the new ownership would be effected immediately. This could cover ownership rights of a car, a piece of real estate, a gemstone, or a consignment of pharmaceuticals between the parties to the smart contract.

Tokenization of Assets

The creation of security tokens representing fractional ownership of physical assets offers exciting possibilities. Some tangible assets that could appreciate over time, such as real estate, are too costly for one individual or even family to afford to invest in an entire unit.

For example, someone wanting to invest in a gemstone has to choose a stone of a size that is within their budget. But the bigger the jewel, the higher the value per carat. What if you could invest in a fraction of a large, highly valuable gemstone? Tokenization makes that possible.

The world is only just starting to explore the art of the possible for blockchain asset tracking. This article has outlined just a few of the opportunities that are opening up. It is beginning to become believable that within the next ten or twenty years, blockchain will be the only foolproof means of proving ownership and recording value.


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Miami Luxury Race Track – The Concours Club

Miami Luxury Race Track – The Concours Club is a $220 million racetrack that will also feature a spa, restaurant, and bar.

Miami Luxury Race Track - The Concours Club

Miami Luxury Race Track - The Concours Club

Miami Luxury Race Track - The Concours Club

 


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Brickell Heights Condo For Sale & Rentals by Brosda and Bentley Realtors

Brickell Heights Condo For Sale & Rentals by Brosda and Bentley Realtors

Brickell Heights Condo For Sale & Rentals by Brosda and Bentley Realtors


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Brickell Heights Condo For Sale & Rentals by Brosda and Bentley

Brickell Heights condos are located at 850 South Miami Avenue in Downtown Miami, Florida 33130 in the heart of Miami’s dynamic Brickell neighborhood at the crossroads of Southwest 9th Street and South Miami Avenue directly across from Brickell City Centre, a 5 million square foot luxury retail and lifestyle destination.

Miami has never been hotter, more glamorous, or more exciting than it is today and Brickell is at the center of it all. From ultra-luxe boutiques and premier restaurants to prestigious corporate office towers, Brickell offers the ultimate urban lifestyle.

Brickell Heights Building Feature:

  • 2 Breathtaking towers designed by internationally renowned architectural firm Arquitectonica features expansive glass terraces in every residence
  • Dramatic double-height lobby designed by award-winning architect David Rockwell highlights original art installations
  • Commissioned façade installation by renowned Argentinean artist Fabian Burgos
  • Sophisticated condominium residences with captivating skyline views
  • Limited collection of penthouse residences on uppermost floors

Brickell Highst Elite Services and Amenities:

  • Equinox Fitness Club & Spa with high-performance fitness programs
  • 3,500 square foot SoulCycle studio, the first in Miami
  • Exclusive residents-only rooftop Sky Pool Deck with panoramic Biscayne Bay and City views
  • Luxuriously landscaped 9th floor Pool Terrace with swimming pool and lap pool
  • Urban Garden planted with a variety of seasonal vegetables and herbs
  • Elegantly appointed Screening Room available for private film screenings
  • Two beautifully designed Entertainment Rooms available for private events
  • State-of-the-art Business Center with complimentary coffee and tea bar
  • Engaging Kids’ Club programmed for children’s activities
  • 35,000 square feet of Class A office space
  • 24/7 Concierge service includes multilingual staff, security, and mail receiving desk
  • 24-hour valet parking available
  • High-speed Internet access in all amenity areas

Equinox Fitness center & Spa:

  • Beautifully designed three-story, 35,000 square foot fitness center featuring state-of-the-art equipment
  • Customized fitness regimes designed by innovative personal trainers and expert nutritionists based on individual health and wellness goals
  • Elite team of personal trainers who are experts in developing creative programs to ensure extraordinary results
  • Studio fitness programming created by internationally renowned talent offers a range of innovative classes
  • Luxuriously designed full-service spa offering signature massage, facial, and body treatments
  • Juice Bar with a healthy selection of juices and snacks for pre- and post-workout SOULCYCLE
  • State-of-the-art 3,500 square foot indoor cycling studio with high-energy music
  • Inspiring SoulCycle® Method classes that help riders work their core and tone their upper bodies
  • Top instructors and staff deliver unique services and personal attention to all levels of riders

Brickell Heights Are Highly Sophisticated Residences:

  • Contemporary floor plans with floor-to-ceiling tinted windows in most rooms emphasize spacious interiors and breathtaking views
  • Residences delivered in move-in condition with carpet in living areas and imported designer porcelain tile floors in bathrooms and kitchens
  • Expansive terraces with sleek glass and aluminum railings are directly accessible from every room through floor-to-ceiling sliding glass doors
  • All corner residences feature dramatic wrap-around terraces
  • Nine-foot high smooth-finish ceilings in living areas of mos residences
  • Elegant entry foyers in select residences
  • High-efficiency central air conditioning and heating systems
  • Pre-wired for high-speed communications, multiple telephone lines, and cable
  • Stackable washer/dryer in every residence

Original works of contemporary art enhance the elegance of Brickell Heights’ breathtaking lobby and speak to Miami’s internationally renowned reputation as the ultimate destination for today’s most exciting art and artists.

Brickell Heights’ mezzanine pool terrace has been designed as a stylish resort-style destination where you can take in the sun or relax in the shade above the hustle of the city streets.

Brickell Heights’ sustainable community garden, designed by seed-to-table pioneer Dylan Terry as an edible work of art, brings the finest herbs and vegetables to your doorstep. Dylan has designed for restaurants, including the Mandolin, Essensia, The Dome, and The Broken Shaker, high profile clients, including the Vizcaya Museum & Gardens, Arquitectonica, and the Miami’s Children’s Hospital, as well as many schools and private homes.

Suspended within the lights of the Miami skyline, residents of Brickell Heights enjoy an experience of residential luxury unlike any other in the city. Panoramic views surround exquisitely designed residences, natural light enhances sleek contemporary interiors, every personal service that makes life truly pleasurable is available on request.

Soaring ceilings and glass walls accentuate the natural light of Miami and surround every

residence with dramatic views. Private balconies offer an elegant venue for quiet conversation or entertaining guests.

High above the heart of <em>Brickell</em>, with views of the skyline and the Atlantic Ocean, the private rooftop pool and amenity terrace offers an elegantly designed escape for socializing with friends and neighbors.

SLEEK KITCHENS
  • Contemporary European cabinetry in premium finishes and imported stone counters
  • Imported designer porcelain tile floors
  • GE Monogram 36” refrigerator with bottom freezer and 24” stainless steel interior dishwasher with concealed controls
  • GE Monogram 30” electric cooktop and electric single oven and GE Monogram Advantium

30” speed-cooking oven

  • Zero-radius single-well stainless steel under mount sink with single-lever European-style chrome faucet and GE garbage disposer
FINE BATHROOMS
  • Beautifully detailed European cabinetry
  • Elegant imported stone vanity countertops
  • Generously sized vanity mirrors with flattering designer lighting
  • Floors and wet walls clad in imported designer porcelain tile
  • Designer bathroom fixtures and accessories

All information is subject to change without notice.

For more information on Brickell Heights condos for sale call Brosda & Bentley at +1 (305) 788-9393.


Katerina Brosda

Katerina Brosda
(305) 788-9393
info@MiamiJustListed.com
Miami's #1 Broker
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