Lease Contracts on the Blockchain

Hi everybody, with eLocations we are launching a commercial/retail property marketplace around the globe. Additionally we are producing the prototype for the standard smart (lease) contract at the moment. The question to you as a professional is what you expect from this new technology and what you already know about it. Looking forward to have interesting discussions with you. Best, Marc

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  • James_Dearsley1James_Dearsley1 Administrator admin

    Arent smart contracts pretty commonplace now @mriebe? What will be different with yours?

  • No, first because actually they are used mainly to transfer crypto and secondly all (lease) contracts are individual and have to be programmed case by case.

  • @BertBroadhead, exactly - we are able to program all eventualities. The best example is, that it happens very often that tenants forget to renew the lease contract. Most people cannot imagine that this happens in prime locations, but it does. For example Nicolas Hayek senior called his best Swatch store in the world every Saturday at 5:05pm to ask for the best turnover. At 5:06pm then he called his second best performing store on Rue du Marche in Geneva. But on one Saturday approx. 10 years ago there was no ringing tone any more, because the retail manager forgot to renew the lease contract... So he lost the turnover for one year and had to buy out a neighbor a couple of metres on the left hand side and spent some millions of key money. If the leases are programmed as smart contracts, this human mistakes will not happen anymore.

  • Auto-renewal linked to a payment solution avoiding bank fees would be the solution with a ledger-based protocol not called blockchain. With Limitless he would have his sales live & in real-time so he wouldn't have to call and the alert could have gone to his phone? If a landlord is silly enough to lose swatch over a missed renewal wow how have times changed
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