Vacation rental houses. Parking spots. Even dream homes. Before long, they’ll all be purchased on a blockchain. In fact, blockchain-based real estate is already gaining popularity as a way for buyers, sellers and investors to interact with each other and learn about properties.
But why is blockchain poised to give the real estate industry such a significant leg up? First and foremost, by leveraging Distributed Ledger Technology (DLT), it increases trust through greater transparency. And in real-estate, trust — of a website, an agent, a listing — is imperative. Blockchain also expedites contract processes, saves time and reduces costs.
But why is blockchain poised to give the real estate industry such a significant leg up? First and foremost, by leveraging Distributed Ledger Technology (DLT), it increases trust through greater transparency. And in real-estate, trust — of a website, an agent, a listing — is imperative. Blockchain also expedites contract processes, saves time and reduces costs.
Because the daily rate of real estate transactions is so immense, a common database of leases and purchases is more necessary than ever. Blockchain can provide that. Upgrading the traditional Multiple Listing Service (MLS) database to a blockchain-based would create a far more transparent ledger system where brokers and agents could see the entire transaction history of a property.
Besides helping the traditional real-estate industry, blockchain is also being adopted by the burgeoning property-sharing sector. Below are 21 companies that use the increasingly popular technology to boost business.
BLOCKCHAIN REAL ESTATE COMPANIES TO KNOW:
- Republic
- SafeWire
- Vairt
- RealT
- PropertyClub
- ManageGo
- RealBlocks
- Meridio
- SMARTRealty
- Reasi
- Propy
- Slice
- Harbor
- The Bee Token
BLOCKCHAIN REAL ESTATE
Blockchain’s inherent system of trust makes it the ideal technology for real estate. Real estate companies all over the globe are using blockchain’s smart contracts and ledger abilities to transparently and efficiently facilitate renting, buying, investing and even lending.
Source: builtin
