Paying for Coffee with Personal Data; California’s New IoT Law; Amazon Enters Residential Real Estate; More in Five for Wednesday

tip jar and cash register at coffee shop

  1. We’ve seen a lot of science fiction revolving around using personal data to “pay” for goods and services, but one campus coffeeshop is making it science fact. Shiru Cafe on Brown University’s campus uses student’s personal information (including name, age, and college major) as currency, allowing anyone with a university ID to exchange caffeine for the ability for corporate partners to advertise to the customers through not only visual displays, but from the baristas themselves. The information given to advertisers, according to the café owners, does not include any personally identifying factors, but rather comprises of an aggregation of their entire clientele.
  2. California becomes the first state to sign a cybersecurity law specifically focused on smart home devices. Starting on January 1st, 2020, smart home device manufacturers must equip their devices with reasonable security measures to protect consumers from unauthorized modification, access, and information disclosure. “If it can be accessed outside a local area network with a password, it needs to either come with a unique password for each device, or force users to set their own password the first time they connect,” which would slow down the ability of hackers to use default usernames/passwords to gain access to devices remotely.
  3. A new start-up is looking to revolutionize how we buy homes. Instead of selling to the highest bidder, Bungalo sells their flipped homes to the first bidder that is pre-qualified for a mortgage at the listing price. The service has launched in the Dallas-Forth Worth and Tampa areas, and is sure to be a company to watch in our industry.
  4. Forbes takes a look at how Blockchain and the Internet of Things are shaping the future of real estate. They’ve noticed the same trend we have (and that Joe and I just recorded a webinar about) – technology in the real estate vertical revolves around making life easier, including the speed at which deals move and the efficiency of living in a smart home.
  5. Hydro-and-aquaponics systems are becoming increasingly common features in high-end restaurants in New York City. But they’re also popping up in unexpected places, including the cafeteria of a Manhattan high school. “As part of a nonprofit program called Teens for Food Justice, a handful of schools in Brooklyn, the Bronx, and Manhattan have turned spare classrooms, unused science labs, and, in one case, an empty closet into urban hydroponic farms, an experiment in self-sufficiency, science education, and food equity.” I’m excited to see where projects like this go.

Bonus: Last week, we told you about Amazon’s newest investment into residential real estate with their investment into prefab-home builder Plant Prefab. This week, Yahoo! Finance did a great little rundown on how Amazon has been reaching into the residential real estate space, which includes their “Hire a REALTOR®” campaign and more.