How Blockchain Technology Can Disrupt Real Estate?

Real estate is the largest asset class in the world. Commercial enterprises and real estate professionals are recognizing the transformative impact of blockchain technology to optimize retail and commercial property sales, streamline payments, and increase access to real estate funds and investment opportunities. Today’s real estate industry is crammed with multiple stakeholders, unclear land titles, fragmented properties, a very opaque system, frauds, and corruption. Hence, for the unique peculiarities that blockchain offers, it becomes more than relevant to build a blockchain empowered real estate and land management platform.

The real estate sector has a huge contribution to the economic growth of a country. The more robust a country’s land management system is, the more it impacts the GDP of a nation.

In the case of India, for example, the real estate industry amounts to 7–8% of India’s GDP. This figure is set to increase to 13% by 2025. Additionally, India’s real estate industry is set to reach the US $1 trillion by 2025. By analyzing this bundle of information reveals the huge impact; the real estate sector has on a country’s GDP. This holds true for any country/region.

Therefore, it becomes necessary to have a system that is efficient, cost-effective, timely, transparent and secured. However, currently, the land management and real estate industry of any country seems to be majorly lacking.

We can say that blockchain technology could have a major effect on the real estate industry, from property purchasing to due diligence to title management. We identify the early adopters and potential impact of How Blockchain Technology Can Disrupt Real Estate.

Benefits of Blockchain in Real Estate

With rising valuations of properties and continuous development around the world, blockchain technology is advised to bring several benefits to the real estate industry:

• Automation and more efficient processes
• Reduced costs
• Network transparency and data accessibility
• Real-time payment settlements
• Tokenization

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