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Prince-David Omaghomi Urges Crypto Enthusiasts to Diversify into Real Estate

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The Blockchain Vibes event had several articulate speakers who had some resourceful tips to give on blockchain . During one of the sessions, Mr. Prince-David Omaghomi, a real estate expert, pointed out the versatility of blockchain technology, especially in the real estate sector. Fielding questions from Mr. Tony, the session’s anchor, Omaghomi, highlighted the risks in cryptocurrency, being the most adopted use case of blockchain. Adding, he noted that the asset’s volatility shielded him from seeing blockchain’s advantages.

However, down the line, Omaghomi convinced about the universality of the technology, founded a property tech company LandCheck, which focuses on addressing the challenges in Nigeria’s real estate sector. He acknowledged that finding the connection between blockchain and real estate inspired the firm’s creation.

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LandCheck is dedicated to fulfilling Nigeria’s real estate needs, such as enabling co-ownership of properties, among other benefits. Speaking further, Omaghomi advised that crypto enthusiasts should diversify their portfolios while investing in crypto assets. According to him, this includes investing in real estate.

Interestingly, the LandCheck boss cited that Nigeria has $900 billion worth of dead capital in its real estate sector, attributing it to the country’s flawed housing and land provisions. He explained that the Land Use Act of 1979 vests ownership of all lands in the government, making it difficult for them to be accessed. 

Through LandCheck, he aims to leverage blockchain, driving deeper penetration into real estate. Omaghomi noted a missing link in real estate, which LandCheck was created to fill. 

Blockchain continues to ramp up adoption in several industries. While cryptocurrencies are the most popular use case, soon, we will witness traction in other industries.

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