How Can Blockchain Technology Improve Real Estate


It is also important to note how blockchain uses could potentially revolutionize rental property payments. Cost-efficiency and better decision-making in leasing transactions can be achieved with a shared database, where a whole vertical of stakeholders including owners, tenants and service providers can interact with ownership information, or transaction history in an open, secure way.

Combined with new models of flat ownership that could potentially span the global market, decentralized payment projects could be used to facilitate low-cost, high-speed transnational micropayments which would distribute the payment among all stakeholders concerned. Within the context of payments, introduction of smart contracts into blockchain real estate ledgers and transactions, has clear potential in streamlining various real estate processes, such as releasing apartment ownership, or rental documents upon a completion of a cryptocurrency transfer. The benefits of this aspect of blockchain use cases when applied to real estate are already being recognized by a variety of private institutions and governmental bodies.