Donations from parents to children for buying a home have skyrocketed in recent years. In a market where prices far exceed youth salaries, family assistance has become the only way in. This trend reflects a generational gap that is growing unchecked.
Blockchain and smart contracts to manage donations 🏠
Technology can simplify these processes. Smart contracts on blockchain allow automating capital transfers with clear conditions: deadlines, specific uses, or reversion clauses. Platforms like Ethereum or Stellar offer transparency and reduce notary costs. Furthermore, tokenization of real estate could fraction ownership, making it easier for several family members to contribute without losing control. A technical solution for a social problem.
How to ask your parents for an allowance with your own algorithm 😂
Now for the fun part. If your parents don't donate to you, try presenting them with a business plan with bar charts. Tell them it's an investment with guaranteed returns (your future inheritance). If they refuse, you can always resort to the PapiBank app, which turns begging into a transaction with a management fee. Of course, don't forget to thank them with a €5 coffee.