This interview is part of our new Blockchain In Real Estate series, where we interview the world's leading thought leaders on the front lines of the intersections between blockchain and real estate.
In this interview we speak with Andy Strott, CEO and founder of Resolute, to understand how his company is using blockchain to transform the real estate business, and what the future of the industry holds.
1. What’s the story behind Resolute? Why and how did you begin?
AS: Resolute began as a plan to raise capital for a multifamily building in Manhattan, but, quickly transformed into a fund concept as we received more interest from potential blockchain/cryptocurrency investors in a diversified portfolio of U.S. real estate investments.
2. Please describe your use case/s and how Resolute uses blockchain:
AS: Resolute transforms the longstanding private equity fund model from one of lower liquidity options for investors to creating the opportunity for investors to buy/sell/trade their shares anytime they choose, thus introducing a manner for our fund investors to access their capital when they choose to. Creating a token that represents a share interest in our fund with no minimum investment size opens up this opportunity to a much wider investor audience as well because it allows investors to participate in U.S. real estate investment with small or large size investments, and it opens up our fund to investors holding cryptocurrencies to diversify their portfolio in a traditional, income producing asset class.
3. Could you share a customer/user that benefits from what you offer? What has your service done for them?
AS: In certain countries around the world, there are currency restrictions which make it difficult to invest outside one’s own country. By offering our fund to shareholders with cryptocurrency holdings, we have received such investment from investors around the world, including countries as described above. It has opened up the opportunity for capitalism in countries that have more restrictive economic models.
4. What other blockchain use cases in real estate are you excited about?
AS: Investment in real estate, combined with the leverage of blockchain technology gives us the opportunity to radically improve and build more sustainable communities around the world.
We plan to invest in real estate projects globally to stimulate and expand local economies, create jobs, and, in developing countries, work towards sustainable development and smart cities planning.
SUSTAINABLE FARMING – We will use a private equity approach to acquire and rehabilitate distressed or underutilized farmland and underlying farm businesses. We will use blockchain technology to build more efficient, smart, and sustainable farms.
BLOCKCHAIN DIGITAL CURRENCIES – We plan to create digital currencies that reflect the value of land and land ownership worldwide – giving local participants the opportunity to participate in the economic benefit of monetizing the land/resources they live on.
SMART CITIES REAL ESTATE TECH INVESTMENT – We plan to invest in and apply innovative technologies such as AI and blockchain to create smart cities and smart homes in the markets in which we invest.
Read more about these initiatives here.
5. Where will Resolute be in 5 years?
AS: We launched Resolute with the short-term goal of pioneering a product with a new technology that would bring immediate benefit to the real estate and blockchain industries and to our investors.
But, we have always had a much bigger plan in mind.
Investment in real estate, combined with the leverage of blockchain technology gives us the opportunity to radically improve communities around the world.
Toward those goals, in 5 years, we will have expanded our platform and business into partnerships and other verticals where blockchain is increasingly providing technological advancement and value.