Oct 26, 2021
In this episode of The Propcast, Louisa speaks with Dan Salmons, CEO of Coadjute, the company who is creating a ‘National Grid’ for the property market to make buying and selling real estate quicker, simpler and a more transparent process for everyone involved by utilising blockchain technology. We discuss why the property buying and selling process is so lengthy and laborious, and how Proptech is significantly changing the game for residential and commercial real estate deals.
Companies Mentioned:
- Coadjute https://www.coadjute.com/
- Pay by Phone https://paybyphone.co.uk/
- Land Registry https://www.linkedin.com/company/land-registry/
Shout Outs
Richard Price, Dezrez https://www.linkedin.com/in/richieprice/
Martin MacDuff, Redbrick Solutions https://www.linkedin.com/in/martin-macduff-29a1b717/
Key Insights From This Episode
- The property market is in an ecosystem of multiple professions - the real estate profession, the legal, financial, the government. And they somehow have to work together to get your property transaction done. And yet they have no infrastructure to do that.
- Sometimes the small things are really transformative.
- Blockchain allows a group of people who want to share information with each other to be certain that that information is reliable and that no one's cheating. It allows them to do that without a central authority having to review and confirm all that information.
- Blockchain is a new piece of infrastructure that allows people to securely share data and know it's a hundred percent accurate without someone in the middle telling them it is.
- What I want to come up with something that feels effortless, easy, obvious, simple. Then you'll get fantastic adoption. And then gradually of course you can extend and expand what it is.
- Sometimes people lack the imagination to believe the world can ever be different. you have to have the imagination if you're innovating to believe the world can be better.
- We've got lots to do in the UK. We were number four in the Olympic metal table, but on the world rankings of how easy it is to move property, we're number 42.
- The reception has been really warm and I think it's cause in this case, the bit that we're helping where this is the bit no one likes anyway. The administration, the chasing I mean, who doesn't want to have more up to date information when they're dealing with the property deal?
- Innovation is all about perspiration. They say ideas are really cheap. Anyone can have an idea. What's interesting is what happens when that idea meets the real world and you start actually making it happen.
Keywords: blockchain,
innovation, fintech, national grid, property sales, technology,
information, connectivity
About Our Guests
Dan Salmons, Chief Executive Officer, Coadjute
https://www.linkedin.com/in/dansalmons/?originalSubdomain=uk
A leader in innovation in Financial Services for 25 years, Dan has held executive roles at Capital One, Barclays, and RBS/NatWest, and has launched ground-breaking products including Contactless Cards and Mobile Payments. He has been CEO and NED of several FinTechs, and an advisor to Roche.
Company summary Coadjute -
Coadjute’s mission is to make buying and selling property a simpler, faster and more transparent process for everyone involved. To do that, we are creating a transformative new piece of national infrastructure for the UK: – a “National Grid” for the property market.
Coadjute connects the software that runs the property market in real-time. Our open blockchain network connects the platforms already used by estate agents, conveyancers, mortgage brokers and lenders, opening up a range of new connected possibilities. These include seeing progress updates in real-time, securely sharing documents and messages, and even automating processes like payments.
About Our Host
Louisa Dickins
https://www.linkedin.com/in/louisa-dickins-ab065392/?originalSubdomain=uk
Louisa started her career in property working at a well-known estate agency in London. Realising her people skills, she moved over to Lloyd May to pursue a career in recruitment. She now is a Director at LMRE, who are a specialist recruitment firm driven by PropTech and recruitment professionals, and Louisa oversees their 5 core areas. Louisa co-founded LMRE and provides a constructive recruitment platform to the new disruptors in real estate. Louisa is also on the board of Directors at UK PropTech Association (UKPA).
About LMRE
LMRE believe there is a better way to recruit. LMRE focus on a more comprehensive, client led focus delivering exceptional talent to the place at the time. They are passionate about the industry and passionate about people's careers. LMRE spend time with each client to become and an extension of the business, and their transparency and core values help them grow with the sector. LMRE simplify recruitment and innovate with our clients and evolve the people driven, PropTech community.