Blockchain can fix the sorry state of the real estate industry
Oct14
Micheal Arrington, the founder of the tech news website TechCrunch, recently bought $60,000 flat in Ukraine. Under normal circumstances, the transaction would have involved a trip to the country and exchange of paper documents. However, Arrington didn’t set foot in Ukraine. Neither was any courthouse, bank or other financial institution involved in the purchase. Everything took place on blockchain, the distributed ledger that underlies Bitcoin and other cryptocurrencies. Blockchain originally aimed at providing authentic ownership and exchange of digital information without the need for brokers and middlemen. But the same technology is now providing a reliable method to record the…
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