4. Future of Blockchain

You’ll Be Able To Buy a House More Quickly and Easily!

Proving and verifying identities has become one of the most significant issues in real estate. Right now, it can take up to 45 days for a bank to complete the Know Your Customer (KYC) process for a buyer closing on a house.

Since blockchain makes data more easily traceable, this lengthy verification process could be eliminated through smart contracts. These self-executing contracts could be written to perform a wide variety of tasks, including processing loan requests and verifying identities.

Besides, you can imagine all sorts of other possibilities for blockchain technology in the real estate industry as well — from transparent transaction data to managing property records to smart home devices that connect with your lease terms.

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