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Earlier today a friend of mine sent me this Fast Company article talking about bitcoin and the future of home buying. I’m really glad he did. Both because I wasn’t yet sure what I was going to write about today and because this is a topic that I’m deeply interested in.
I recently heard Brad Burnham (venture capitalist at Union Square Ventures) say in a talk that if you’re thinking about Bitcoin just as a currency, then you’re thinking about it in the wrong way. If you take nothing else away from today’s post, I think you should remember that. Bitcoin, and the underlying block chain architecture, have the potential to be very transformative.
The Fast Company article was written by Matt Weiss of IDEO (the powerhouse design and innovation firm). Here’s an introductory snippet:
Insert block chains: a relatively new and promising technology that could transform the way we digitally exchange value, similarly to how Internet protocols, like TCP/IP, transformed the way we exchanged information. For example, to transfer ownership of a home today, there are countless check of authenticity and intermediaries involved to insure the transfer is legitimate. By using a distributed database (a.k.a. “a block chain,” the same technology behind Bitcoin) to prove authenticity, we could legitimately transfer ownership immediately without the need of a middleman. In fact, when we think about block-chain technology and the industries it could disrupt, real estate tops the list. While Trulia, Redfin, Angie’s List and others have brought some transparency to the opaque world of home buying and home ownership, most of our experiences in this industry are fraught with incomplete, inaccurate, and asymmetric information.
Following this, he goes on to talk about what it might be like – each step of the way – to buy a house using the block chain technology. There are even mockups of what the app could look like. I highly recommend you give it a read if you’re interested or involved in this space.
The real estate industry hasn’t seen a lot of innovation. It remains an opaque market with lots of information asymmetries. I have no doubt that will one day change; it’s just a question of when. Perhaps it’ll be the block chain that makes that happen.
Image: IDEO via Fast Company
Elon Musk is one hell of an entrepreneur. I just finished watching this “Bloomberg Risk Takers” video.
[youtube https://www.youtube.com/watch?v=mh45igK4Esw?rel=0&w=560&h=315]
It’s about 45 minutes long, but well worth it. What’s astounding is both is willingness to go all-in and his commitment to solving big, meaningful problems. Click here if you can’t see the video above.
Once you’re done watching, you should then read this Quora answer from his first wife talking about what it takes to be that great.
[youtube https://www.youtube.com/watch?v=NMacTuHPWFI?rel=0&w=560&h=315]
Earlier this week on the day before April Fools’, Amazon launched two new services. The first was called Amazon Dash (see above video) and the second was called Amazon Home Services. The entire internet seemed to think that Dash was actually an April Fool’s joke, but it turns out it’s not. In fact, it’s actually an incredibly smart product.
The way it works is simple. Each branded Dash Button is about the size of a pack of gum. You mount it in, on, and near things that you replace on a regular basis, such as laundry detergent, coffee refills, and so on. Then all you have to do is push the button and your order gets sent to Amazon. Shortly after the product arrives at your door. I say “shortly” because you can be certain that Amazon’s goal is to make that time frame as short as physically possible.
I don’t know about you, but I could definitely see myself using this product. There are a number of essentials – such as laundry detergent and toilet paper – that I just hate shopping for. I have to create reminder appointments in my calendar just so I don’t forget. In fact, I did that today and I still forgot to pick everything up on my way home (my phone died).
But what’s even more interesting about Dash, I think, is that it increases the threat to brick-and-mortar retailing and, more specifically, big box stores. Because if same day and same hour delivery is a big threat to big box stores, just imagine one button and same hour delivery. And, is it only a matter of time before something like this comes to Apple Watch? It seems like the right medium for it.
Isn’t it interesting how something that most people believe is a silly joke could actually turn out to be a huge innovation? I try to always remain open minded. Sometimes it’s hard. But it’s good practice.
Earlier today a friend of mine sent me this Fast Company article talking about bitcoin and the future of home buying. I’m really glad he did. Both because I wasn’t yet sure what I was going to write about today and because this is a topic that I’m deeply interested in.
I recently heard Brad Burnham (venture capitalist at Union Square Ventures) say in a talk that if you’re thinking about Bitcoin just as a currency, then you’re thinking about it in the wrong way. If you take nothing else away from today’s post, I think you should remember that. Bitcoin, and the underlying block chain architecture, have the potential to be very transformative.
The Fast Company article was written by Matt Weiss of IDEO (the powerhouse design and innovation firm). Here’s an introductory snippet:
Insert block chains: a relatively new and promising technology that could transform the way we digitally exchange value, similarly to how Internet protocols, like TCP/IP, transformed the way we exchanged information. For example, to transfer ownership of a home today, there are countless check of authenticity and intermediaries involved to insure the transfer is legitimate. By using a distributed database (a.k.a. “a block chain,” the same technology behind Bitcoin) to prove authenticity, we could legitimately transfer ownership immediately without the need of a middleman. In fact, when we think about block-chain technology and the industries it could disrupt, real estate tops the list. While Trulia, Redfin, Angie’s List and others have brought some transparency to the opaque world of home buying and home ownership, most of our experiences in this industry are fraught with incomplete, inaccurate, and asymmetric information.
Following this, he goes on to talk about what it might be like – each step of the way – to buy a house using the block chain technology. There are even mockups of what the app could look like. I highly recommend you give it a read if you’re interested or involved in this space.
The real estate industry hasn’t seen a lot of innovation. It remains an opaque market with lots of information asymmetries. I have no doubt that will one day change; it’s just a question of when. Perhaps it’ll be the block chain that makes that happen.
Image: IDEO via Fast Company
Elon Musk is one hell of an entrepreneur. I just finished watching this “Bloomberg Risk Takers” video.
[youtube https://www.youtube.com/watch?v=mh45igK4Esw?rel=0&w=560&h=315]
It’s about 45 minutes long, but well worth it. What’s astounding is both is willingness to go all-in and his commitment to solving big, meaningful problems. Click here if you can’t see the video above.
Once you’re done watching, you should then read this Quora answer from his first wife talking about what it takes to be that great.
[youtube https://www.youtube.com/watch?v=NMacTuHPWFI?rel=0&w=560&h=315]
Earlier this week on the day before April Fools’, Amazon launched two new services. The first was called Amazon Dash (see above video) and the second was called Amazon Home Services. The entire internet seemed to think that Dash was actually an April Fool’s joke, but it turns out it’s not. In fact, it’s actually an incredibly smart product.
The way it works is simple. Each branded Dash Button is about the size of a pack of gum. You mount it in, on, and near things that you replace on a regular basis, such as laundry detergent, coffee refills, and so on. Then all you have to do is push the button and your order gets sent to Amazon. Shortly after the product arrives at your door. I say “shortly” because you can be certain that Amazon’s goal is to make that time frame as short as physically possible.
I don’t know about you, but I could definitely see myself using this product. There are a number of essentials – such as laundry detergent and toilet paper – that I just hate shopping for. I have to create reminder appointments in my calendar just so I don’t forget. In fact, I did that today and I still forgot to pick everything up on my way home (my phone died).
But what’s even more interesting about Dash, I think, is that it increases the threat to brick-and-mortar retailing and, more specifically, big box stores. Because if same day and same hour delivery is a big threat to big box stores, just imagine one button and same hour delivery. And, is it only a matter of time before something like this comes to Apple Watch? It seems like the right medium for it.
Isn’t it interesting how something that most people believe is a silly joke could actually turn out to be a huge innovation? I try to always remain open minded. Sometimes it’s hard. But it’s good practice.
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