Written by Breck Hapner
Read part one here.
CRE companies and industry experts are beginning to recognize how blockchain will change real estate by impacting property sales. Specifically, blockchain will increase contractual speed, efficiency, accuracy, trust, transparency, and more importantly, security.
Users want processes that increase efficiency and minimize error and fraud. Buyers and sellers favor using crypto via the blockchain, because it is made very secure with smart contracts and digital algorithms that enable the exchange of value between two parties in a transparent, enforceable way.
Weighty transactional activity can be overwhelmed by traditional networks that cause resistance between existing real estate systems. Blockchain solutions disrupt obstructions in the entire property acquisition pipeline by cutting intermediaries, reducing overall costs.
There are several exciting ways that blockchain will enhance the real estate industry. Let’s take a look at some of the ways blockchain and cryptocurrency will affect industry processes.