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Blockchain and its impact on real estate

 

Confused by terms like cryptocurrency, blockchain, NFT, bitcoin, and metaverse? Wondering what the heck Elon Musk is talking about? If you’re not only slightly confused by these terms, but also wonder how the real estate industry may be impacted, you’re not alone! The future of real estate transactions on the blockchain is here and is quickly gaining momentum.

Although blockchain technology has created waves across multiple industries, the utilization of blockchain in real estate is still in its infancy. In this industry, blockchain has the potential to be used for legal contracts, financing, buying and selling property, and so much more! Due to the unknown, these topics may sound slightly overwhelming, and at first, the concept of blockchain may seem a bit complicated. In reality, it’s simply a type of database that chains together digital blocks of data, and is what makes it possible for the use of cryptocurrencies to exist in the first place.

With blockchain still fairly new to the industry, we all have a lot to learn. Elm Street Academy recently had the opportunity to bring together top thought leaders across the real estate sector to share their perspectives on the impact that blockchain is making, and will continue to make, in how day-to-day business is handled. As a leading technology company, Elm Street understands the need to focus on the present, while always keeping our eye on advancements that will impact the future of the real estate transaction.

View this exciting 1-hour, on-demand webinar moderated by Matt Fagioli (Operating Partner, BKG™ – Brokerage Atlanta), and featuring Rob Hahn (7DS Associates), Chris Haran (MRED), Nobu Hata (Denver Assoc. of REALTORS), and Liz Sturrock (Miami Assoc. of REALTORS) on the current state of the digital transaction in real estate.

The panel addressed specific questions such as:

  • What are the key things agents and brokers need to be aware of in regards to blockchain technology?
  • Do agents and brokers need to be prepared for Web3?
  • Will NFTs continue to be introduced into the real estate sector?
  • Is blockchain technology secure?
  • How can the real estate industry be best prepared?

Ultimately, they spoke about the challenges and hurdles that we face in adoption and how the real estate transaction could be forever changed.





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