Digital Real Estate Replicas for Remote Inspection and Fractional Ownership
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Solution Overview
Problem
Current real estate viewing methods are constrained by time, geography, and lack flexibility, and existing technologies do not provide detailed remote inspection or fractional ownership options, making it inconvenient for buyers and sellers, and limiting investors' analysis capabilities.
Innovation Solution
A system utilizing cloud-to-edge network infrastructure, distributed computing, and decentralized ledgers to provide digital reality experiences and decentralized transactions, enabling virtual replicas of real estate properties, fractional ownership, and secure transaction records through smart contracts.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Measurement precision
If virtual reality systems are used to provide detailed remote property inspection, then measurement precision and information availability improve, but device complexity and network infrastructure requirements increase
Solution Approach 1:
The patent creates virtual copies (digital twins) of physical real estate properties that can be inspected remotely. These virtual replicas include 3D models, photographs, videos, and interactive floor plans that replicate the physical property's features, allowing detailed inspection without physically visiting the property.
Solution Approach 2:
The system introduces a virtual reality platform as an intermediary between buyers and physical properties. This mediator translates physical property features into digital representations that can be viewed remotely, bridging the gap between distant buyers and properties they wish to inspect.
2Adaptability or versatility
If multiple strangers are allowed to visit a property for inspection, then buyer selection improves, but ease of operation for the seller deteriorates due to inconvenience
Solution Approach 1:
The virtual tour system creates a digital replica of the property that can be accessed by unlimited buyers simultaneously without the seller's physical presence. This eliminates the need to coordinate multiple physical visits while maintaining broad buyer access.
Solution Approach 2:
The system performs preliminary property documentation by creating comprehensive virtual tours before any buyer visits. This preliminary digital representation allows any buyer to inspect the property at their convenience without requiring seller availability or coordination.
3Reliability
If investors must purchase large parcels of land in single transactions, then transaction security improves through traditional methods, but adaptability to fractional ownership deteriorates
Solution Approach 1:
The patent divides real estate properties into fractional digital tokens that represent ownership shares. These tokens can be bought and sold independently on blockchain platforms, allowing investors to purchase fractions of properties rather than requiring full ownership transactions.
Solution Approach 2:
The blockchain-based token system creates a universal platform that supports both traditional full-ownership transactions and modern fractional ownership. The same digital infrastructure handles various transaction types, making the system adaptable to different investment strategies and investor preferences.
4Measurement precision
If specialized real estate knowledge is required for property valuation, then measurement precision of property value improves, but ease of operation for average investors deteriorates
Solution Approach 1:
The system incorporates automated valuation models that provide real-time feedback on property values based on market data, comparable sales, and property characteristics. This feedback mechanism enables average investors to assess property value without requiring specialized real estate knowledge.
Solution Approach 2:
The virtual reality platform copies and presents comprehensive property information including valuation data, market analysis, and investment metrics in accessible formats. This digital representation makes complex real estate information understandable to non-expert investors.
Data Source
AI summary
Systems and methods for providing digital reality experiences and decentralized transactions of real estate projects, comprising a server with a memory storing data models and data of virtual replicas of real estate properties stored in a project database and instructions for processing the virtual replicas, and a processor configured to process the data to provide digital reality experiences for users; and user devices connected to the server via a network, configured to detect and track virtual objects of the real estate projects and to output media content to users, enabling digital reality experiences. The server and the user devices are further configured to connect to a distributed ledger platform enabling decentralized record of user interactions comprising transactions with the real estate property.