Real estate is one of the most conservative areas of the economy, while Blockchain is considered a disruptive and novel technology. Nevertheless, combining these seemingly incompatible elements has proved extremely fruitful.
The foundation of most co-working projects is the concept of creating a shared infrastructure with a global community. The advantages of this business model over the management practices of large corporations, with their rigid internal regulations and strict hierarchy, are quite apparent. This is especially true for young technological start-ups, who are increasingly rejecting the traditional office set up in favour of co-working environments.
We started thinking about how to build a digital analog for community membership mechanisms and we believe that this is one of the cases where blockchain technology is indeed useful because it removes a hassle of managing complex membership models which involve high costs for identification management support, membership card/access transfers, accounting, legal changes and operations costs -- reduces transaction costs in economic terms.