As technology gets introduced to the realty sector, it has brought in greater transparency in deals, efficiency in working and assured accuracy in terms of due diligence in effecting contracts. While there are many different technologies that are being put to use by the real estate industry, one that promises a secure transaction and distribution of digital information is blockchain.
The technology has got the real estate market, which never otherwise conducted high-value transactions digitally, to sit up and take note. Till blockchain and real estate got to working together, the latter was happy with face-to-face meetings that too often-involved intermediaries in the transaction process. Blockchain has changed this for the real estate business by taking these transactions from an offline set-up to an online space.
Building with Blockchain
Blockchain technology offers numerous applications in the real estate space. Tokenization is one. It is a concept bringing blockchain technology and real estate investing together. The use of smart tokens lets asset or fund owners generate funds…