Cryptocurrency Technology to Disrupt the Real Estate Industry

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https://www.forbes.com/sites/forbesbusinesscouncil/2022/05/20/blockchain-technology-and-commercial-real-estate-in-2022-and-beyond/?sh=7d0380f0d4bc

https://www.notarize.com/blog/the-future-of-real-estate-transactions-and-cryptocurrency

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Cryptocurrency projects including Decentraland and Sandbox have offered digital real estate for sale, but cryptocurrency has the opportunity to disrupt real-world real estate markets. As blockchain technology becomes more widely accepted, smart contracts will become more likely to handle transactions that middle-men and large companies once did. The antiquated system of brokers and high commissions can be moved onto a decentralized and accurate ledger system that saves money and improves transparency in the industry.

Imagine the ease and transparency of purchasing and investing into real estate using a decentralized application on the blockchain. The first major benefit of using blockchain technology in lieu of our traditional MLS system is that the middle-man is removed from the equation. The transaction is recorded on the blockchain public ledger and a smart contract handles the exchange. A cryptocurrency is sent to the dapp and the sale is recorded to see.

Blockchain applications will disrupt both the commerical and residential real estate sectors. It is in the best interest for the buyer and leaser of a property to have transparent information on the property and to have lower fees during the transaction. If you have ever purchased a house or negotiated a commerical lease, you know all to well the cost of lawyers, agents, brokers and contracts. Closing costs and negotiations with current occupants (be they tennants or owners) can be time consuming and can obscure the deal. A transparent blockchain that parties on both sides interact with through a decentralized application can solve many of these problems using smart contracts. A native cryptocurrency could be used that holds the information about the deal on the blockchain as an imutible record will solve many paperwork headaches as well.

Cryptocurrency blockchain technology will make real estate transactions more transparent and less open to manipulation. The process is decentralized, so large companies with a vested interest in a continual rise of real estate price will not be able to manipulate prices.

What do you think? Would you be comfortable using a blockchain application instead of a broker for real estate transactions? Would this disrupt the industry so much that many people would lose their jobs?

Posted on Hive, Blurt and Steemit

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6 comments
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5 years this has been happening to me, it started here, around people that are still here. Homeland security has done nothing at all, they are not here to protect us. Dont we pay them to stop shit like this? The NSA, CIA, FBI, Police and our Government has done nothing. Just like they did with the Havana Syndrome, nothing. Patriot Act my ass. The American government is completely incompetent. The NSA should be taken over by the military and contained Immediately for investigation. I bet we can get to the sources of V2K and RNM then. https://peakd.com/gangstalking/@acousticpulses/electronic-terrorism-and-gaslighting--if-you-downvote-this-post-you-are-part-of-the-problem

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I think you are onto a very good concept. Real estate transactions are recorded in deed books like a ledger in my county. So blockchain is ideal and easier to do and more transparent.

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Also, !hivebits and we curated your post in our weekly collection on real estate https://peakd.com/ccc/realestate4114u/the-best-real-estate-posts-on-hive-for-the-fourth-week-may-2022

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Thanks! Yes, the Technology will improve the market by removing middlemen and improving transparency. Thanks for your support!

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