Existing relation between the blockchain technology and the real estate

by Wirba Brice Divine Ransinyuy

    During moments of uncertainty like the pre-dominantly existing one, everything takes a shift towards the use of the internet and social media. At this moment, no field is left out, like no stone is unturned. This speaks the same of the real estate. Since physical contact is being limited from one continent to another, one nation is to another, getting in physical contact with real estate companies turns out to be quiet difficult as there are several measures taken into consideration to eradicate and limit the spread of the coronavirus. As such, the majority of things have to be done online now in order to remain safe and keep others safe.

    Safety does not limit itself just in the physical world, it has to be done at the virtual and digital world also. And as such, measures also have to be taken to eradicate and limit the spread of virtual or digital viruses. When dealing with real estate, one has the impression that, it deal with outstanding buildings, houses put at the service of the public. Thus, in order to protect themselves and their clients, real estate companies turn to use technologies that will prevent the hacking or breaching of informations between themselves and their prestigious clients. Such of a technology is the blockchain. The blockchain technology is a unique technology that offers the possibility to be used in all spheres of life.

    The correlative relation existing between the blokchain technology and real estate comes with aspects like it has removed intermediaries. In an overall manner, the real estate universe is made up of lawyers, banks and financial institutions have all been removed from the scene. Now, everything takes place between the buyer and seller in all security as functions that were being done by banks and lawyers like payments, listing and legal documentation is now being done by platforms using as technology, the blockchain.

     Thanks to the use of the blockchain technology in the real estate universe , it has not just removed banks and lawyers, it has made the whole process to be faster and quicker than before especially during such moments of global crisis that everything seems to be a standstill. Using the blockchain technology in the real estate world is a great relief to the seller as well to the buyer also. Everything becomes simple and straight for both parties as there is no longer a third party involved.

  Futhermore, a benefit coming from the blockchain technology is the fact that blockchain brings down all barriers thqt were making real estate investment to be difficult since real estate investment requires plenty of money, with the use of the blockchain technology, investors can still through the use of a trading app that deals in buying and selling, buy a token that compromises a fraction of ownership which will be done in all safety and tranquillity.

     The increasing use of the technologies like the blockchain  in the real estate brings a surplus and a stability to a field that has always been known for its unsecurities and long procedures for buyers to buy or invest in the real estate world.