Blockchain has been gaining ground in its increasing use in real-world real estate transactions. ShelterZoom, known for being one of the first to create a blockchain-based real estate platform, is at it again as they announced their plans to create a 'one-stop shop' program for the blockchain-real estate marketplace.
The platform, as reported by Business Wire, is expected to become live in the first quarter of 2019. It will be built on a blockchain platform and will be used for transactions and services in real estate. Titles, legal, and mortgage documents will be dealt through the platform, further increasing the speed and efficiency by which these transactions are done.
ShelterZoom hopes that the platform will create a faster end-to-end process, not just make it easier for newcomers to enter the real estate world. Being built on blockchain, the idea is to make each user gain more trust in it through the platform. Transactions are also made more transparent and secure because of blockchain's own capabilities.
This is what the world has begun to look like in the advent of real estate and blockchain's partnership. Digital disruption is what it is, some say. Thanks to this disruption, the real estate market has already begun to look a lot more different than from only a few years ago, when blockchain was just beginning to take off as a viable outlet to complete deals and transactions in.
Forbes mentioned that being on blockchain afforded more benefits for real estate than cons. Processes are more streamlined, such as the changing of documentary laws and regulations, when using blockchain technology. There has also been an increased need for intermediaries, however, as most real estate transactions are sensitive and the money involved aren't really considered small.
As for agents, their jobs have been made easier by blockchain. Lead generation has been the bread and butter of real estate agents, and it has been hard going about it using manual means. With blockchain, it's easier to create a long list and stow it away in data form, to be brought out when needed. Remote transactions will also be possible where both parties can sign documents and agree on deals even when they're at opposite ends of the continent.
So many possibilities have been opened with blockchain technology. If it weren't for it, platforms and players like ShelterZoom wouldn't be around to create innovations and make transactions more efficient.
