Nearly $217 trillion in total has been valued for the accumulation of real estate in Blockchain technology. Some include residential properties, commercial and global. Today, we are going to dive into the pain points of the current industry which can be transformed towards the digital ledger distribution tech.
The term “real estate is owned by the rich entities only” is widely spread. Securing an estate is already a lengthy process, with barriers such as citizenship, international bank accounts, Credit Score, cash requirements, accreditation, accessibility to the right people, sponsors and financing. To be able to invest in your property of choice may take a long time and passing through so many middlemen to proceed the whole application.
Corruption and dishonesty in the real estate business is no stranger. Multiple factors such as corruption, tax evasion and money laundering have been discussed for decades. How can it be resolved or reduced? Through the overall transparency that Blockchain technology is able to offer, assist and monitor. With these global challenges, this includes the infrastructure and the climate change that can also create an effect on the estate of choice.
Fees arise when it comes to securing a place; which includes exchanges, transfers, broker, attorney, taxes, investment and more. The process of dealing with middlemen and parties involved can be very expensive.
How quick an asset or investment can be converted into cash is what defines the liquidity of the whole status of the real estate. It is considered to be one of the most significant problems faced by many entities; but here at ABR – we would like to educate you further that it can be solved.
Did you know that cryptocurrencies can be listed on a public exchange and sold openly in open hours? Or that the number of buyers for crypto is too many as compared to real estates?
We have shared some of the reality facts of the Real Estate industry which can be solved; through the application of Blockchain.
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