Bitcoin, Blockchain, & Real Estate: A World Changing Revolution!
Do you remember when the internet started to gain mainstream adoption?
… it’s about to happen again with Blockchain!
Real estate is a really big business! How big you ask? It’s about a $217 Trillion (yes with a “T”) industry with roughly $900 Billion in annual transactions.
Anytime a technology arises that has the potential to disrupt every part of something so large you better take note!
Think of Blockchain as a secure network where information, money, data is stored in “blocks”.
So how does all this apply to real estate? Here are some of the top ways the real estate world will be forever changed by blockchain technology:
1. Increase transparency & verification of ownership
Because of the way information is stored on blockchain it will allow you to easily verify ownership, and if there are any “clouds” on the title of a property.
Currently this is an expensive and time consuming process only perform by title companies or lawyers.
2. Dramatic Time & Cost Savings
Now that the information can be almost instantly verified we will be able to close real estate deals more quickly and at much less cost.
This will make investing and home ownership more attainable for many people who are currently shy away from real estate because of the 7% – 10% cost of purchasing. (realtor fees, title work, title insurance, etc.)
3. New Models of Ownership
Another thing blockchain is creating is new ways to own real estate in a more fractional model. Pieces of real estate can be broken up into coins and then sold. Imagine being able to purchase a tiny stake in the huge new office building being constructed in your downtown!
If the project goes well, you will directly benefit!
4. Easily Transfer Capitol
With removing border currency boundaries it will also be easier to invest in projects all over the world! Bringing more capitol and investment to developing countries.
At this point you may be thinking this all sounds way too complicated to get involved with. Just remember all the benefit that can be gleaned from being an early adopter in industry changing technology.
Study, grow, and keep pushing your business forward!