Blockchain Technology

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For Parts I, II, and III, click here, here, and here.

As explained in the prior three posts on this topic, blockchain technology has the potential to revolutionize the way we buy, sell, and develop property in Pennsylvania. By leveraging the benefits of blockchain technology, we can simplify and streamline those processes while making them more transparent. It can save time, money, and resources – benefitting property owners, municipal governing bodies, developers, and other stakeholders.

We discussed several ways that the blockchain and smart contracts can benefit our industry. For example: Smart contracts can automate pieces of the sales process, the process of obtaining permits and approvals, the release of plans, and the depositing and release of financial security, among other processes. By recording documents on a blockchain, we make them more accessible and accurate. By creating a shared database of information on the blockchain, we can reduce duplication among agencies and departments and reduce errors. This automatic and tamper-proof approach creates a clean record of transactions, reduces costs, and saves time.Continue Reading The Future of Real Estate Sales and Development in Pennsylvania with Blockchain Technology (IV of IV)

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For Parts I and II, click here and here.

Our prior two posts on blockchain technology and real estate looked at blockchain basics and how it can be used to make real estate transactions and the recording of documents more transparent, efficient, and secure. But I suggest that blockchain technology can do more. Specifically, when it comes to the land use process, which includes zoning, subdivision, land development, and related processes required to develop a property.Continue Reading Streamlining the Development Process with Blockchain Technology (III of IV)

For Part I of this series, please click here.

Chasing down documents, recovering escrow funds, and worrying about fraud are examples of things in the real estate world that create stress. Wouldn’t it be nice to know that your contract will be executed and carried out accurately and without fail? That it will occur almost automatically and with fewer 3rd-party hands touching it along the way? Your work life might be simplified in that case, freeing you up for other matters. Really, the process of transferring ownership of property in Pennsylvania can be complex and time-consuming. It typically involves intermediaries which can add significant costs to the transaction. Perhaps blockchain technology can simplify our lives and reduce transactional costs in the real estate context and elsewhere.Continue Reading Simplifying the Sale of Property with Blockchain Technology (II of IV)

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As of late December 2023, Bitcoin was up more than 60% in the prior four months while another well-known cryptocurrency, Solana, was up over 240%. The cryptocurrencies were on their annual Fall bull run, but there seems to be more to why they have jumped in value in the past several months. At least in my opinion, cryptocurrencies, blockchain, and related technologies and concepts are here to stay.

But this post, and the posts that follow, will not provide a primer or deep dive into cryptocurrency – at least not the direct investment potential of it. Rather, this series of four posts will discuss cryptocurrencies’ underlying blockchain technology that has the potential to revolutionize the way we buy, sell, and develop real property. By leveraging the benefits of blockchain technology, we can simplify, streamline, and make more transparent the real estate sales and development process for the benefit of property owners, developers, municipalities, and other stakeholders.Continue Reading Revolutionizing Real Estate Sales and Development One Block at a Time (Part I of IV)