The Splendid Future Of Blockchain In Real Estate Transactions
The explosion of blockchain in real estate has fired up the new-coming investment trend? How does this industry benefit from blockchain technology? Recently, commercial real estate has accounted for a large percentage of global economic asset and transaction activity. The size of the professionally managed global real estate investment market climbed from $7.4 trillion in 2016 to $8.5 trillion in 2017, according to an MSCI research. On the other hand, the real estate market has been operated by siloed and autonomous networks with transactional friction and opacity. The Ethereum blockchain in real estate offers a practical way to achieve a variety of industry benefits. This year, the mayor of Miami proposed that residents may pay property taxes and local fees with bitcoin. A Miami penthouse sold at $28 million through an unidentified bidder and became the most expensive residential crypto real estate transaction in the United States to yet." Here we discuss the main benefit...