How Blockchain helped National Association of REALTORS Improve Member Services
Technology Category
- Application Infrastructure & Middleware - Blockchain
Applicable Functions
- Business Operation
Use Cases
- Cybersecurity
The Customer
National Association of REALTORS
About The Customer
The Challenge
The various local and state associations are independent corporations working together to deliver programs under a Code of Ethics that is over a hundred years old. There is an existing centralized database containing members’ billing information.
Engagement information such as volunteerism, professional development and committee service is not shared. While sharing member engagement information is essential, it is difficult to get 1200 organizations to agree to contribute and relinquish control of their data to a single database.
The Solution
NAR used IBM's Hyperledger Fabric to build the REALTOR® Association Blockchain (nicknamed BlockR), a blockchain-based tool for recording and sharing information about member engagement across the nation’s realtor associations.
This is possible because Hyperledger blockchain fabric is an encoded digital ledger that is stored on multiple computers in a private network. It comprises data records, or “blocks.” Once these blocks are collected in a chain, they cannot be changed or deleted by a single actor; instead, they are verified and managed using automation and shared governance protocols.
Data Collected
Billing information , Engagement
Operational Impact
Quantitative Benefit
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