Why consider blockchain for real estate sector?
Shared databases can prove to be critical for leasing, purchase and sale transactions. One of the prominent instances is multiple listing services, which collates property-level information from privately stored databases to property agents and brokers.
Managing and transacting real estate properties include various entities, such as owners, operators, tenants, lenders, investors, and service providers, who provide, access, and modify a variety of information.
There are a few real estate transactions that have conditional clauses and can be executed through smart contracts. For example, the conclusion of a purchase-sale transaction could be reliant on title clearance or loan approvals.
Blockchain can disintermediate trusted intermediaries, due to increased transparency and security in title management and auto-confirmation by government land registries.
At times, participants in purchase and sealing and sale transactions are new and can become extra cautious in due diligence, and may even come up with data integrity concerns. However, Blockchain can help aid reduce this risk through digital identities and advance transparent record keeping systems for real estate titles, liens, financing, entitlement, and tenancy.
How Oodles Technologies Helps You?
Oodles Technologies is a pioneer IT firm that specializes in building high-octane blockchain-based applications for clients all over the world. We have a proficient team of Blockchain Application Developers which a vast experience in building high-quality decentralized apps (DAPPs). We have an extensive portfolio of clients from all over the world and we strive to deliver top-notch Blockchain Development services at the most competent price.