How does blockchain technology impact real estate transactions?

Blockchain technology has the potential to revolutionize real estate transactions by increasing transparency, reducing fraud, and streamlining the buying and selling process. Blockchain creates a decentralized, immutable ledger, ensuring that property ownership and transaction history are securely recorded. This reduces the likelihood of disputes over ownership and simplifies the transfer of assets. Additionally, blockchain enables the use of smart contracts, which automate and enforce the terms of agreements, reducing the need for intermediaries like lawyers and notaries. As blockchain adoption grows, it is expected to reduce transaction costs and time, making real estate deals faster and more efficient. Though still in the early stages, blockchain is poised to reshape the industry.