Hi guys, this is Lucky Ali, and I hope you are doing well. Real estate is a challenging industry because it requires constant presence, as it involves extensive paperwork and numerous time-consuming tasks. Here I am not talking about days but months because there are things like title clearance and verfiications. But do you know these can be easy and smooth, and everything will be possible transparent way, and most secure, and the work can be finished in minutes. Let's talk about how this is possible. Here I am talking about blockchain real estate transactions.
Blockchain with real estate means a tamper-proof transaction why which is happening because it is a decentralized digital ledger. You can think that it is a public book that is unchangeable and transparent to everyone, and there is no possibility of copying the transaction. The most important thing here is that it bypasses the middleman and government agencies, notaries. Banks and brokers are middlemen here. Removing multiple middlemen means lots of trouble is out. So this is how blockchain technology can help in the real estate business.
Talking about one of the biggest advantages, that is transparency, and blockchain technology is most secure at the same time, it is transparent. Everything can be stored in blockchain, such as transaction price, ownership historical data, and a record of maintenance. The biggest benefit of it it removes the disputes that happen in ownership, fake and duplicate documents, and fraud, so it is building trust for both sellers and buyers.
It has efficiency too because smart contracts on blockchain play a big role. Let's say all conditions are met, so smart contracts automatically release the payment. So this is an automatic system that provides efficiency. Not only this there is tokenization too that is game game-changer. This particular thing can open global doors to allow even small investors to invest in big property.
However, this is not without challenges because blockchain and crypto have a decentralized nature that bypasses the middleman, but governments want to be involved in this, and they want their approval should be taken; that is why things are not happening as expected. But here, there is one thing that not every country's government thinks like this. Some countries want to grow with technology and accept the changes. Decentralization, tokenization, transparency, security, and ownership are the things that are badly needed in the future, so the government needs to cooperate.
Blockchain in real estate is gonna change the world of real estate, and this is the future. Do you think whatever I said is right? Let me know what your opinion is because your opinion matters. Now it is time to say goodbye, and I will meet you in my next blog. Good night.
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Hi I am lucky ali from gujarat, india. I am a crypto enthusiast, blogger, and SEO developer. You can find me on hive, twitter and discord (Lucky Ali#6343). Sharing is caring. Thank you, hive family ♥ |
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