Blockchain technology has massively disrupted the Real estate industry. It has changed some processes forever.
Let Us See Its Impact Below
Intermediaries like brokers, banks, agents, and lawyers have been eliminated from the system as blockchain technology automatically takes care of legal documentation, payments, and the listing of different properties. The process is highly quick and cost-effective.
Since the tokens can be readily traded in the leading exchanges in the market, it creates more liquidity for the investor.
The barriers to entry are significantly reduced as fractional ownership is provided. The costs involved in maintenance and leasing are decreased. More small investors can easily participate in property investment.
Data storage is made immutable and transparent by blockchain technology. This reduces the chances of fraud.
As seen above, Blockchain technology is a welcome addition to the Real estate industry as it makes the market more transparent, secure, and equitable by establishing a decentralized network that facilitates peer to peer transactions.