One of our 2017 resolutions is to understand the fundamentals of Blockchain Technology. Blockchains consist of a distributed ledger and cryptocurrency. This has the potential to transform real estate in numerous ways; fraud prevention and smart contracts are among the top reforms. In our opinion, the industry to be impacted the most by Blockchain is the Title industry, read why here.
Below is also a great video that explains the process of Blockchain using the example of the diamond trade. The same process could easily be transferred over to both sales and rentals in the real estate industry.