Blockchain on Real Estate

[yaaansi]

There a lot of projects arising as pf today, how do you see the position of blockchain in the real estate? Does it have a great chance to succeed in the near future ?

[ahmad21]

Yes blockchain can solve many problems of real estate industry.  With Blockchain real estate, the middlemen could be effectively cut out. By using blockchain decentralized database to prove authenticity, the homeowners can legitimately transfer the ownership to the buyer without having to pay for third-party verification. Blockchain for real estate as proof of ownership, proof of exchange, proof of transaction, and proof of existence is where this technology is showing its strength. This helps to provide the proof that you’re the owner of the documents, and the decentralized network helps to prevent forgery.

[drmilind2004]

The concept seems fine in principle. Nevertheless, before launching a real, live version, any sensible administration will need to do serious testing, and bounty hacking invites on those test versions, for several years.

We hear of frequent exploits on the blockchain apparatus, as when the exchanges reveal the weakness of this system. Imagine such a hack on a land record!

Paper trails and administrative oversight will continue for several more decades, until confidence in the blockchain setup is well established in other similar fields, for this application to land records and real estate to be considered a zero-risk venture, and suitable for live use.

[wandino]

Blockchain could have a large impact and change the way real estate gets done. Blockchain in real estate helps in accelerating the process (cutting out the middlemen), reducing fraud, complete transparency through smart contracts.

[luckyindia]

Blockchain could have a large impact and change the way real estate gets done. Blockchain in real estate helps in accelerating the process (cutting out the middlemen), reducing fraud, complete transparency through smart contracts.

Middlemen are marketmakers of real estate Industry.Some company may come farward..... But lets wait for RBI Ban to relax

[Bharathi13]

There a lot of projects arising as pf today, how do you see the position of blockchain in the real estate? Does it have a great chance to succeed in the near future ?

Real eastate industry is very huge and also very slow in adopting new technologies. See example of SAP it was lauched in around 2000 and companies started to adopt this software from 2004 and still so many well known real eastate company are yet to be adapt this advanced software for accounting, material management, supply chain management etc. Than in this scenario blockchain will be adapted in real estate industry very slow. Although there have been so many ICOs are lauched and coming up based on real estate like blocksquare, alt eastate, wealth migrate etc but they are yet to be proove themself on market.