The Xcavate Blockchain (possibly securing one of the last Parachain slots in Q1/Q2 2024 before Agile Core time is launched) is looking to redefine how real estate investment is perceived and its impact on the global society.
Total global Real Estate was valued at over $378.7 trillion at the end of 2022 (Source: Savills Research, and Savills Research using World Bank, Bank for International Settlements, World Federation of Exchanges, World Gold Council). This eye watering sum remains the largest store of wealth across all sectors. Yet only 1.1% of the global population own nearly half of the world’s total wealth (Source: Credit Suisse Global Wealth Databook 2021). Due to the complex nature of real estate investment and the traditional need for trusted intermediaries, many real estate investment opportunities are not possible for the average person.
Nearly 40% of global carbon dioxide emissions come from the real estate sector (Source: Forbes article by David Carlin Apr 5, 2022). Approximately 70% are produced by building operations, while the remaining 30% comes from construction.
An estimated 150 million people are homeless globally, though the real number is probably higher (Source: The World Economic Forum website article by Patrick Henry Oct 2021).
The Xcavate blockchain protocol aims to tackle these issues by leveraging the power of blockchain technology, digital identity, custom substrate pallets and oracles to introduce transparency, security, accessibility and sustainability to the real estate market.
Do you think this will be a welcome addition to the Polkadot ecosystem?