Wonder

Research Outline

Prepared for Christopher T. | Delivered April 27, 2021

Crypto or Blockchain applications for Community Associations

Goals

To provide potential (attempted or hypothetical) examples of cryptocurrency / blockchain technology use within community associations (condo associations or homeowner's associations) in the United States, including any applications within local public sector entities (by cities or municipalities).

Early Findings

The initial round of research indicates that there is limited information on blockchain / cryptocurrency use within community associations (condo associations or homeowner's associations) in the United States; however, there are few examples of use within cities and municipals.
City of Dublin — OhioIn 2019, the City of Dublin announced plans to introduce a system using blockchain technology.
The technology would help the city replace its traditional information database system to give its residents "new capabilities and ways to achieve privacy unlike ever before."
The city's digital identity program will have a similar process to how cryptocurrency record transactions; however, "instead of financial transactions, anonymous resident data written by the city can be read from and verified by other entities."
Miami Real Estate MarketIn Miami real estate, some MLS (multiple listing service) are introducing an option for sellers to accept cryptocurrency in their offer.
Cryptocurrency use has spread to airlines, nightclubs, retail shops, and many more and South Florida is seeing an influx of financial and tech savvy managers wanting to use crypto in their real estate offers.
For example, Idoneus, a Swiss payment token has been utilized as payment to acquire properties in Alaska, Caribbean, and Florida.
Summary of FindingsThe initial hour of research identified one use case of cryptocurrency in the city of Dublin, and another example of how it is used to pay for real estate offers in Miami real estate.
With limited information on use cases within real estate associations, like condo associations and homeowners' associations, we recommend further research to identify more use cases in cities and municipals, which seem to feature more use cases.
Details of our proposed next steps are provided below. Please select one or more proposals from those provided below.