As a real estate professional I've only recently started looking into some of the ways in which blockchain technology can revolutionize the industry.
A lot of startups, apps, and venture funding have been launched over the past few years with the hopes of changing and essentially streamlining real estate transactions for the benefit of consumers. Most have failed or are struggling. I've heard it said that there's a very large graveyard full of failed real estate startups and "innovators".
I do think that blockchain solutions have promise. So often people think it's the real estate agent that is the middle man that needs to be eliminated from the equation forgetting that it's really a host of other individuals involved in the standard US real estate deal. There's the mortgage professionals, the title companies, the attorneys, the county clerk etc. and all these folks are working together to get a single deal accomplished in their respective industry.
The Internation BlockChain Real Estate Association (IBREA) has been at the forefront of trying to hash out many of these difficulties and are bringing together some very bright minds from across the globe to figure out how the real estate industry can evolve and perfect itself using blockchain solutions.
Last night I watched a YouTube video posted earlier this year that addresses some of the difficulties involved in moving forward with innovating the industry in this way but I'm glad the conversations are happening. The video is posted below.