🏘 Real Estate Transactions on Blockchain
How blockchain makes real estate transactions more efficient and secure
Today's Highlights
- Brokerless Real Estate
- Blockchain jobs - a listing of fresh jobs related to web3/blockchain/crypto.
- In Other News - a few interesting developments we're tracking.
Brokerless Real Estate
Blockchain technologies have recently infiltrated many aspects of everyday life such as the finance sector with cryptocurrency. It has even infiltrated the real estate industry with some properties being purchased entirely with cryptocurrency.
But blockchain could allow for implementation in real estate beyond just paying in cryptocurrencies.
Blockchain can allow for fast and secure automated transactions. This allows the risk of fraud to be considerably reduced. In addition to the security of it, blockchain allows for owners to view the status of their properties in real time, and no real estate agency or bank is required for this, completely eliminating the middleman.
The lack of a middleman is possible through smart contracts. Smart contracts are automated actions that will be performed when certain criteria is met. The majority of smart contracts in real estate are for automating value exchanges in the form of cryptocurrencies. All these exchanges are automatically recorded which makes the transfers visible and immutable.
With the housing market in a very bad state right now in the US, transparency is the key to fixing it due to the possibility of corrupt real estate agencies exploiting this current economic turmoil. Blockchain increases trust and reduces broker dependency.
Blockchain allows for a more efficient and secure way to do real estate transactions, and 10 years from now people will look back and wonder how transactions were done without smart contracts the same way people today wonder how people 30 years ago navigated without map smart phone applications.
💡 Blockchain Jobs
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Spotlight
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Titan Mining
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META 1
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CoW's Protocol
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In Other News
William Suberg
Omkar Godbole