Monday, October 14, 2019

This is what makes real estate more powerful in the future! Blockchain for real estate has arrived!





The real estate environ is entirely complex and people are striving to make it simple as much with the possible technologies. Blockchain for real estate is one such experiment that has gained lots of attraction among the people. 

Real estate has adopted many concepts from the blockchain technology like DApps, smart contract to leverage the features of technology and make the lives of people easier. Let’s explore how blockchain and real estate are twinned together to make a better real estate ecosystem!

What is blockchain? 
Blockchain is the distributed ledger of transactions that are recorded in chronological order. In the blockchain network, there is no third parties intervention even for verifying the transactions. Authorized nodes of the blockchain network verify and approve transactions across the network and get rewarded for their time and efforts. 

Blockchain is for real estate and is made from key concepts of the real estate process. Every transaction of the land or property is recorded in the government ledger with the details of transaction, ownership, timestamp and other mandates. Anybody can check the previous transactions of the land through Encumbrance Certificate(EC) in the current scenario and check the reputation of the seller, ownership of the property and much more. .

Now that you can agree with the fact that blockchain is born from real estate! Numerous blockchainsolutions for real estate has been discovered over the years, let’s peep through them!

Blockchain Solutions for Real Estate
Blockchain integration with the real estate sector has legitimated the existing process and paves the way for hassle-free asset transactions. As the property or asset transactions are decentralized and transparent, people can easily find out the fraudulent sellers, scams occurring in the real estate environment. 

Real estate has kick-started to adopt the basic features of blockchain technology. Here’s the checklist of technology that would rule the real estate world!

Smart Contracts
Smart contracts are self-executing computer protocols that perform a certain task automatically on satisfying the specified condition. Real estate can take up smart contracts technology and create a dispute free ecosystem.

Cryptocurrency Payments
Adopting crypto payments in the real estate industry can shatter the cross-border payment restrictions and processing time for bulk payments. 

DApp
Decentralized Application can provide legitimate information on ownership of assets, deals, mortgages and much more. DApp for real estate can help attain consultations and legal clearance of the assets with verified details of the property.

Deals are at your table!
By now, you could have gained the ins and outs of blockchain technology and their use cases for the real estate sector. First comes; wins first!

Be the earliest in the real estate sector to adopt blockchain technology! Let’s talk with a latte on live chat or Telegram!

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