Blockchain is coming: Is the world of Real Estate ready?
The last time I wrote in this journal, I discussed why Blockchain technology is piquing the interest of the global real estate community. Not only developers, but operators, investors, and asset managers all see potential value…but are they seeing with clear eyes? Tons of promises have been made as to the disruption Blockchains will bring to residential and commercial real estate. In discussions I have had with various firms over the past 12 months, the same sets of questions arose: 1. Is there a strong business case: What parts of the business are broken and in need of fixing? What challenges and opportunities is Blockchain technology addressing? Where can a Blockchain generate new sources of profitable and sustainable revenue? What are the risks associated with building or using a Blockchain and are they too high?