Blockchain technology holds the future as we know it well. The wide use of technology has pushed the world to edge called digital transformation.We know how blockchain really work and see right away how to make a particular blockchain-based business applications better and more secure. And as every business were given no other choice but to establish a digital presence has transcended to the standard & trendy for high traffic and effective results that every business should follow.
Real estate industry was entered first step to get success with blockchain integration; for it has adopted the digital approach soon as it realizes how easy and effective results to promote and present the services online with blockchain technology.
In fact, according to PWC report 2018-19, if the realtors are not taking advantage of new-age technology named as blockchain technology, the industry might face a crisis because it failed to meet the customer expectations. Hence and so, it is clear that the future of real estate is certainly moving towards the blockchain technology.
Here through this piece of writing, we intend to share some productive insights that blockchain integration might help you to grab great success.
The first thing that every realtor should know about blockchain is that the rate of evolution is comparatively high. It means, technology is advancing day by day and if you failed to adopt and leverage it into your benefits, you will be thrown out of the game.
The face of real estate business with blockchain technology integration is a bit different from its conventional style of dealing with the users.
If the conventional technology practices were all about finding the right prospects from the real world, blockchain is entirely different. Blockchain has changed the way of online transaction. It increases the trust levels of any transaction without any centralized authorities with an unchangeable and secure smart contract.
Blockchain uses smart contract for any unbreakable and preprogrammed process with high-level security and every transaction happen through smart contract. Where in Real Estate sale, rent or lease is concluded with the transaction of the amount and a contract.
Smart contract maintains decentralised record of all transaction, leasing detail, sale detail and rent.
1. Transparency in recorded data, cannot be edited or duplicated.
2. Centralized Database for maintaining all details of properties.
3. Property sale or renting involve multiple entities can be maintained in blockchain without affecting their privileges.
4. The smart contract provides a more secure digital document.
5. Easy for the transaction of amount beyond areas.
Major property listing site spend a lot of energy in collecting data for listing and face difficult to maintain their application without outdated data.
Blockchain smart contract support in the listing of properties with ownership details. When it was a sale or rented the ownership change will be affected in the blockchain. Meanwhile, the status of the property also will be affected and based on the status unlisted by the contract function.
Security Token is token build over the smart contract on ERC standard which can be bound with a real-time asset, and work like security shares in Equity Market.
Blockchain is technology which can be a good solution for any real estate business sales conversion in digital. Ensure world-class experience with blockchain technology.
Planning to uplift your real-estate business with blockchain integration?
Want to deploy the blockchain technology for real estate business application from scratch? Engage in-depth blockchain development services and transcend your business growth potential.
Since being known the most innovative Blockchain Development Company they have an excellent track record in deploying blockchain technology for real estate business.