It’s hard to identify a sector that hasn't been impacted by blockchain given the technology's disruption of financial services and subsequent widespread deployment across industries. From payments to stocks to venture capital firms to the food supply business, blockchain is everywhere. The real estate sector is also touched by it. Here’s how:
Recordkeeping
According to Srishti Assudani, a blockchain leader at SettleMint, a blockchain platform, blockchain technology can provide for property or land title management through immutable records and auditable transaction history for land registration and transfers. “The technology can also be leveraged to provide efficiencies in property management through use of smart contracts,” she says.
However, Srinivas Mahankali, chief business officer at SecureKloud Technologies, a blockchain company, says that currently there are a few regulatory and custodial challenges in implementing real estate tokenisation on blockchain. "If and when...
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