How real estate will be revolutionized in blockchain
Blockchain is revolutionizing all aspects of our lives and has impacted all market segments. From banks to retailers, the blockchain hype is reshaping our lives as the .com boom in the early 2000s.
The real estate is the largest asset class in the world, with 162 trillion in residential property and 29 trillion in commercial property. Most people agree that real estate investing is a lucrative way of earning a living, but seeing it as a difficult industry to penetrate, especially with all that money on the line. But the changes are changing and the real estate industry is about to become virtual. All this represents an opportunity for investors to get high returns, however, the real estate market is the most challenging to penetrate. Entering it normally requires a large amount of capital and the returns are generally slow, spread over years in some cases.
Blockchain, the same technology that supports crypto-coins, is completely changing the real estate market. By tokenizing fungible assets, purchasing rights to a real-world asset and converting its value into an asset-token, making moving assets more convenient, faster, and easier to split. Blockchain technology in the real estate industry removes the difficulties of legal contracts and eliminates the need for exchanging paper money. With real estate acquired with encryption, the tedium of normal investments is replaced by instant blockchain trading. Whether you are buying or selling encryption in real estate, you are creating great opportunities for diversification.