September 28, 2015
The Next Level: Smart Contracts and Real Estate Deals
Bloomberg BNA
In our last two articles, we illustrated, using simple examples, how cryptocurrencies (like Bitcoin) are transacted over a blockchain and how such transactions lay the groundwork for smart contracts (e.g., the sale of my Toyota Prius to my friend Alex). While those examples were impressive given our current payment and contracting systems, in this article we want to delve deeper into how entire industries can be disrupted. There is no shortage of literature about how the blockchain is impacting FinTech, but FinTech is just one of many areas ripe for radical change.
In this article, we discuss how real estate transactions could be consummated with far greater efficiency and certainty using blockchain technology