Blockchain is a digital technology that is transforming the fabric of modern life. Blockchain is the technology behind cryptocurrency and has many benefits. Blockchain is affecting all industries and is becoming a crucial tool for education, business, and data security.
Real estate has traditionally been a brick-and-mortar business for people who prefer tangible assets. However, blockchain technology’s reach is so strong that it is slowly affecting real estate. There are many processes involved in real estate other than buying and selling property.
Titles and Deeds
When you purchase a piece of property, you get a piece of paper that proves you are the property’s owner. The paper is precious, but it is still subject to vulnerabilities of paper, for example, getting burned, being wet, or the print fading. Even though you might have a safe, paper titles and deeds are highly prone to damage.
Government offices are quickly digitizing land titles and deeds with blockchain technology being...
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