Hello imbrex community,
We are pleased to announce that in a few weeks, the team will be headed to ETHDenver! ETHDenver is an annual Ethereum community event built on the deep value of collaboration. When you start from a diverse base, learning and innovation are the natural outgrowths of sharing, feedback and problem-solving together. If you’re not familiar with ETHDenver, check it out here. Our favorite part of their ethos is: “Our ecosystem is bottom up. Emergent. A ground swell of diverse intelligences who are committed to #buidling the decentralized future”. This is our first time attending and already we feel at home.
It’s been quite a ride going from alpha to beta on our way to connecting the world’s real estate networks, and we’re looking forward to discovering what kinds of problems other teams are working on and services other dapps are delivering.
We’ll be making tegula, our open source protocol, available at the buidlathon, doing demos of our beta release at our booth, and John will be presenting a workshop session of our learnings and experiences we had while building a web3 application for a web2 audience.
Tegula: how it works in imbrex
The tegula protocol is the engine that fuels data interoperability, normalization, and standardization between disparate systems. It uses:
- the Real Estate Standards Organization (RESO) Data Dictionary, which replaces unstructured schemas with portable, standard inputs
- the InterPlanetary File System (IPFS), which replaces data silos and decentralizes storage
- OrbitDB which serves as a decentralized, structured and immutable log for tracking listing data over time.
OrbitDB stores a given listing’s UPI (Universal Property Identifier) and the IPFS hash relating to its encrypted data and imbrex indexes this on the Ethereum blockchain. The result is real estate listing data that can migrate between systems. For the real estate community, it means two competing entities being able to exchange listing or transaction data without giving up control of their information. The provider is issued an encryption key, and can share it with any third-party user or application. The encryption key provides the recipient the ability to pull the data through their system, while the provider can revoke the key anytime by replacing it with a new one.
This both reduces duplicative data entry for the provider and scales their data distribution. Trust is established between the provider and recipient using the Ethereum blockchain and IPFS as an unbiased exchange intermediaries.
Tegula: how would you use it?
Tegula can be used across many different industry verticals by removing the RESO component and replacing it with a different data schema. For example, the mortgage residential finance industry has similar data challenges as real estate. Developers could replace the RESO data schema with the Mortgage Industry Standards Maintenance Organization (MISMO), giving borrowers, lenders and regulators the ability to share lending data easily between uncommunicative applications. Another industry ripe for tegula integration is accounting. One of the challenges that auditors face is obtaining accurate data in a usable format. The American Institute for Certified Public Accountants AICPA has uniform audit data standards that identify the key information needed for audits and provide a common framework. By combining the AICPA data schema with tegula, developers could build an accounting application that gives internal and external auditors the ability to access and exchange data in a frictionless, standard environment. In addition to providing a common communication element between the company or individual being audited, CPA and regulator, the application could establish administrative tools that make the data easier to store and retrieve for future use.
Designing for a web2 audience
After migrating to Mainnet in July with participation from Toll Brothers and through subsequent months of collecting feedback, testing tegula, and our Listing Curation Token Curated Registry (TCR), we launched our beta last week! Beta includes a massive architectural overhaul that reflects both technical and user experience redesigns.
As all of us buidling are well aware, it’s early days and the infrastructure is emergent and, like the cryptomarket, the path can be volatile and surprise you. We learned a lot. John will fill you in.
We encourage anyone looking for more information about tegula or imbrex that is attending ETHDenver to contact us via our Facebook Group, Email or Telegram. Stephen, Alex, John, and Edouard will be in attendance. We are excited to engage with the community and learn with you!
If you haven’t already, apply to join us at ETHDenver today. Their last application round closes January 31st.
See you in Denver!