Blockchain
Canadian real estate companies are still cautious when it comes to investing in PropTech
Canadian real estate companies have been slow to embrace property technology, or “PropTech”, putting them at risk of losing market share or falling behind their global peers, finds a new KPMG in Canada report.
Canada’s PropTech Journey: How Canadian Real Estate Companies Are Faring in the Digital Age reports that only 36 per cent of companies surveyed have a digital strategy, compared to 58 per cent globally.
“All industries are experiencing some form of disruption; Canada’s real estate industry is no exception,” says Lorne Burns, Partner and National Industry Leader for KPMG’s Building, Construction and Real Estate group. “Historically, it’s been a conservative industry, but companies can no longer afford a wait-and-see approach. If you’re not already embracing digital technology and leveraging data, you run the risk of either losing market share or experiencing revenue income erosion or both.”
Technology – from blockchain, green tech, the Internet of Things, deep data, artificial intelligence and augmented reality applications – is disrupting and improving how real estate companies buy, rent, sell, design, construct, and manage residential and commercial property.
“There are several ways to try out PropTech solutions, whether on a large or a small scale,” says Burns. “You won’t be successful with everything you try, but that’s what innovation is all about. Like any significant change, it will feel uncomfortable.”
The report notes that all of the real estate companies surveyed in Canada have appointed a digital leader to oversee their technology efforts, which encouragingly demonstrates that they understand the importance of a digital approach. However, only 28 per cent come from a technology background, comparatively similar to 30 per cent globally.
In terms of cyber preparedness, while 70 per cent say they feel prepared for a potential cyberattack, only 39 per cent have formally tested how they’d handle one.
The report highlights a number of bold steps Canadian real estate companies can take to embrace the technological revolution, including:
- Hiring leaders with digital/technology backgrounds to lead the transformation, rather than appointing real estate leaders from within
- Embedding data and analytics into how they run their business
- Building a company-wide digital strategy
- Partnering with PropTech companies to co-create solutions
- Looking beyond streamlining operations and cutting costs to find ways to use technology to improve engagement with tenants, customers, and customers’ tenants
- Assessing their cyber security readiness to ensure their data is well protected
“Canadian real estate companies are awakening to the digital era, albeit a bit slowly. Now’s the time for them to really dive in,” says Saqib Jawed, Partner and the PropTech Lead for KPMG’s Building, Construction and Real Estate group. “This’ll look different for every company, of course; large companies with deeper pockets will explore technology in different ways than smaller companies will. But, the only way to find what works for your business is to get started.”
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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