Blockchain and cryptocurrencies are still making a big impact across different sectors. One of the most surprising sectors is the real estate sector, where new technologies are being tested out to streamline multiple different processes. Recently a company from Texas made headlines for using the blockchain to end fraud in Brazil’s land registry, where corrupt politicians have been known to change government records to give themselves beachfront properties. Blockchain has some great potential in the real estate space from smart contracts to land titles, but even cryptocurrency has the ability to revolutionize real estate.
Real estate is the single largest asset class in the world. Real Estate alone is worth more than 36 times the total amount of gold ever mined worldwide. As the old saying goes, they aren’t making any more. Cryptocurrency can be used to trade real estate with transactional coins, it can be used for specific purposes such as to pay for repairs with utility coins, or it can be used to offer partial ownership in real estate assets with security coins.
So let’s say for a minute you are a big fan of all those house flipping shows on television. You want to get involved in that but you don’t have a couple hundred grand laying around to do it with. Using a real estate backed security token you could buy into an investor pool of people who also want to invest in flipping houses without the means to do so alone.
Cryptocurrency and blockchain technologies are already being used to revolutionize many small areas of real estate, so it’s just a matter of time before you buy your next home using cryptocurrency with a smart contract complete with your land title built on the blockchain. Learn more about cryptocurrency and real estate from this infographic.
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