No, we’re not telling you to buy Bitcoin. This isn’t one of those articles. But even without investing in Bitcoin, the technology behind it should interest property buyers. The emergence of smart contracts means buying and leasing properties can be a lot cheaper, and quicker. Let’s be honest, the real estate industry isn’t known for efficiency. While other industries are moving toward instantaneous transactions and zero paperwork, real estate is stomping around with the speed of a rubber-suit Godzilla in a 1960’s movie. That’s why in countries like Brazil, there are already implementations of smart contracts – a digital way of handling real estate transactions that save a lot of time and money. These are powered by blockchain technology, which is famously used by Bitcoin. It just means the same system used to transact Bitcoin can be applied to the dollars and cents world of real estate, to cut costs. The main reason why real estate is so inefficient is the sheer number of intermediaries involved. With blockchain technology (or something designed along the same lines), there’s a chance we may soon do away with all that.... Continue Reading