Blockchain Applications in the Real Estate Sector

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In the year 2009, something was introduced into the world. Something that will later go on to actually change the world around beyond what we can ever imagine of. It was something so amazing that nobody will have thought will happen. The crypto space was introduced to our world through the Blockchain technology. We are in 2025 and that is roughly 16 years later, I can say so much have evolved and changed in the crypto space than what we have always been used to it before. We have seen lot of coins rise up and we have seen the giant of the crypto called Bitcoin gained massive Value.

Beyond the transformation that also happened in the crypto space, much more also happened for the Blockchain technology. Recently there have been more applications of the Blockchain technology than the usual crypto space which we have always been used to and if you will ask me, I will say it is really a great addition. Blockchain technology application have spread even to the real estate sector which is something rare to come by. The fact that Blockchain is Decentralised in nature, that Decentralised system have health helped the real estate sector to help deal with issues like fraud and insecurity.

There are a whole lot of attributes or should I say features that makes blockchain technology to have huge potential. I mean features like the Immutability, like the Decentralisation and many more. One of the features that the Blockchain technology has which has been able to be applied to the world of real estate is the aspect of the Smart contracts. Blockchain technology works on smart contracts whereby transactions can be automated as far as they met some certain conditions set.

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These smart contracts are also applied even in the real estate sector. Normally we usually have the aspect physical agreement between the buyers and sellers whenever there is an intending transaction of real estate that want to take place. But with smart contracts been put in place, it helps to make sure that transactions are automated. We don't need physical barriers like lawyers. Every of transactions that want to be carried out in the real estate sector is automated which makes it to be good.

Earlier I make mention of the fact that everything is automated. The fact that the concept of smart contracts is introduced in the rela estate sector, it helps to remove fraudulent activities carried by people and helps to strengthen security either security of the assets or of transactions carried out. For decades, one of the things that real estate transactions are known for is in the aspect of Fraud. There is always so much fraudulent activities in the sector. I mean fraud like people selling fake property or fake ownership of property been sold. But with the introduction of the Blockchain technology, it actually helps to eliminate those issues away.

The fact that we now have every transaction recorded on the Blockchain technology and like I said earlier, all transactions that are recorded on the Blockchain technology can not be altered because of its Immutability nature. This goes a long way to offer security measures. It is hard for people to manipulate transactions or documents recorded on the Blockchain technology concerning their real estate transactions. This helps to offer security. Not only that, it also helps to give this high sense of transparency and accountability that traditionally, the world of real estate always suffer from.

That is also not all. Every nation have their own policy as regarded real estate transactions. Sometimes trying to carry out real estate transactions across border can be a major challenge because of regulation issues and even the lack of trust also. But recently, cross border transactions are now much more better than before because of Blockchain. Everything is now simple because all the transactions are simple. There is no need to work with an intermediaries. Everything is automated right now and this has enhance the real estate transactions been carried out across borders.

As I conclude. I am so happy that the application of Blockchain is really expanding daily and one of the things that I am so certain of is the fact that it will continue to get better in many years to come.