Why Real Estate Will Embrace the Blockchain

Real estate may have a staid reputation, but this is rapidly changing thanks to blockchain.

Blockchain benefits include:

Fewer Middlemen

The classic example is title insurance. Moving titles to the blockchain will make real estate transactions more efficient and transparent. This could eliminate title insurance because titles are clearly documented.

Fewer middlemen also mean lower fees for all related transactions, not just title insurance.

Faster Transactions

Blockchain could mean faster listings, title searches, and title transfers, all completed quickly and securely.

The whole process would move faster… maybe even eliminating escrow companies and others holding information behind paywalls.

More Data Security

Moving digital property records, deeds, surveys, and plats to a public chain ensures records are accurate, accessible, and unalterable, resulting in….

Increased Transparency

… for everyone in the process. Currently, multiple parties control information and profit from the friction and opacity. (Again; why it takes so long to close, with additional fees at every step.)

Blockchain makes everything visible, boosting the credibility and trust between all parties. Equal access to information means faster transactions at lower costs. Blockchain may also provide more equitable and fair transactions, too, thanks to additional transparency.

Why Blocksquare Will Lead the Way

There are many people working to implement blockchain into real estate. It’s an exciting time and changes are just starting.

Blocksquare focuses on commercial real estate. The platform will be a set of protocols other real estate professionals may use, too. (ICO going on now!). Simon Kruse provides an overview.

Blocksquare appeals to me because the tokenization of commercial real estate will open this investment category to more individuals. It will provide greater liquidity and lower costs for all investors, regardless of size.