Presentation file by Polina Gusak during Government In Blockchain event by TrueEventUs. Happened in Fort Canning Hotel Singapore on 15th August 2018.
Polina Gusak shared a use case on how a Blockchain backed application called Sesamee (open the door? lol) is collaborating with the UK government and the UK largest property company in digitising property titles.
2. Fetch Blockchain Ltd.
● Developing the next generation technology called Sesamee that solves the toughest issues
facing real estate industry
● In collaboration with HM Land Registry and leading property players in the UK
Based in the
heart of
Crypto Valley
3. Understanding the problem: The pain points in UK real estate
Intermediary driven
● Conveyancing
driven, not consumer
driven
● 53% of service
reports contain
errors
● High emotional
burden
Too long
● 4 months average
sales process in the
UK
● 37% of the
transactions fall
through
● Millions of buyers
sidelined
High costs
● Paper driven process,
lack of automation
● HMLR gets 120,000
service requests per
day, unable to meet
SLAs
● 80% of revenue
absorbed in costs
4. Not Sustainable
“The current home buying and selling
process is not fit for purpose.”
Ministry of Housing, Communities & Local Government of the UK
April 2018 Proof of Evidence Report
5. Understanding the market
● Property leaders know conveyancing is coming to an end
● HMLR has a mandate to digitise by 2020
● 91M Chinese buyers are looking online for property in the UK
every month unable to transact
6. Trend analysis
Findings: UK
Currently HMLR generates £311M in income
off its title service requests
Costs are a whooping £242M due to:
● High labor costs
● Zero automation
● Lack of standardisation
● Error-prone titles 15
25
35
22
7. Target audience:
Land Registries
Many land registries across the world
are inefficient and unreliable
● In 2010 in Haiti an earthquake
destroyed all buildings that
stored land title documents
● In Africa more than 90% of rural
land is not registered
● In Bangladesh titles are recorded
by three different offices without
much coordination leading to
everlasting land conflict
8. Trend analysis
Findings: India
“In India the lack of secure land ownership
is a bigger cause of poverty than the caste
system or a high illiteracy rate”
● Millions of rural families lack legal
ownership of the land they live and
work on
● India’s Land Registry estimates £400M
paid annually in bribes
● India loses 1.3% of GDP from errors in
property values
25
35
22
9. Market trends: Land Registry Stats Worldwide
Secure property titles help eliminate poverty
and boost prosperity
● Only 30% of land rights are recorded
or registered worldwide
● Property inheritance endangered
● Land records enable property taxes,
which are 35% of GDP in middle
income countries vs. 0.4% of GDP in
poor countries
10. PRIVATE & CONFIDENTIAL Patents pending- USPTO #62669405
10
LAND REGISTRY MODERNISATION PROGRAM
Many governments are
now switching to
blockchain system to
record transactions
● Not susceptible to
tampering
● Instead of multiple
conflicting
documents there is
only one record
● Blockchain
transactions can
include all kinds of
information
11. Modernising deliverables - Fetch Blockchain patent pending
technology
Perfected
smart property
title
● Fully digitised
● Fully functioning
“Sale ready” ● Use AI to scrape & decipher data
● Assign a grade to each title
Insurance
backed
● Insure validity of the data
● Insure grade of property
PayPal style
gateway
● Connect buyers globally to titles
● Make property sites transactable
Sale Ready
title
12. In-production services
Aug Sept Oct Nov Dec Jan Feb March
Timeline
Asset based token ICO structured out of Zug, Switzerland
Commence
international
expansion
Release Sesamee
Product and strategy labs set up with HMLR
13. The Team
Carmen Benitez, CEO
A serial entrepreneur, founder
of Fetch Plus, a multi-million
dollar media technology
company. Featured in USA
Today, Bloomberg, The New
York Times, etc.
Marcelo Alves, CTO
A renowned technology guru
with 22 years of experience in
software development. Built
the largest group buying retail
marketplace in Brazil that was
later sold to Microsoft
Polina Gusak, CAO
A Wharton MBA graduate and
a former American Express
executive in New York, London
and Tokyo with a wealth of
experience in deal negotiations
and business development