Financial losses and fraud is increasing from year to year in such branch as real estate. Due to the statistics fraud in this branch increased by 1100 per cent for the period of time 2015–2017 in the United States. There is o complex of reasons for this:
1) High price of real estate objects.
2) The complexity of the process of transactions.
3) Using the Internet, where all the data are not protected in a proper way.
In the nearest future within blockchain technology real estate marker will be digitized and optimized. There will be a system protected properly with all the needful data and transparency for all the participants. Title documents, the previous owners of the objects the customer is willing to buy, lease or other agreements, service contracts and lots of other data will be displayed there.
These aren’t all benefits of the blockchain real estate, look for the details here: http://merehead.com/blog/top-benefits-blockchain-real-estate/. The trust of the customers will increase with the development of the protection and optimization of the system in general. More that the risk of fraud and its success will decrease in times. The providing blockchain in real estate will economize not only money but also time of all the participants.
If we talk about our reality, we should mention that all the sides: sellers and buyers are trying to check one another. The procedure of checking takes time and to make the agreement is more difficult. Digitization of the documents and smart contracts will gain time of all the participants. All the procedure would be carried out as a simple transaction.
