RESO recently launched a new workgroup to focus specifically on property lifecycle and distributed ledgers. Our very own L.D. Salmanson was featured in Inman’s coverage of the new group.
“A property is a living organism of events”
The data could also be a boon to predictive analytics, indicating which event in a property’s lifecycle is likely to happen next and when, he added. “A building permit was issued for a certain lot, a building was built on a certain date, a unit with certain characteristics was offered for sale, a unit was sold by corporation A to owner B, the annual tax was paid by owner B to County C, and so on and so forth. A property is a living organism of events that have been recorded in a haphazard and non-uniform manner,” said L.D. Salmanson, member of the new workgroup and CEO and founder of Cherre, in a statement.
“Standardizing such events, and recording them in an immutable and decentralized manner, is a giant step in the right direction and will surely be the building blocks for a huge leap in descriptive, predictive and hopefully, prescriptive analytics applications.”