Ask around and many will say that blockchain technology is the greatest thing since sliced bread. Simply put, blockchain technology is a “shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network.” Blockchain technology has sprouted the creation of cryptocurrency and is being considered, if not already implemented, across a multitude of industries. The real estate industry is one of the many industries that has turned its attention toward blockchain technology. The main discussion here is how blockchain, within the real estate industry, presents a vast array of potential benefits with a number of conceivable drawbacks. To illustrate this dichotomy, let us consider it in the context of a real estate transaction.
This post was originally published on the Cardozo Arts & Entertainment Law Journal website on October 25, 2021. The original post can be accessed via the Archived Link button above.
Aufrichtig, Alexander, "The Blockchain Easement: Benefits and Drawbacks of Blockchain Technology in Real Estate" (2021). AELJ Blog. 298.