The potential impact of blockchain technology on the real estate sector was the subject of a recent article published by Forbes.com, titled ‘Three Ways Blockchain Technology Will Revolutionize Real Estate in 2019’ authored by Hunter Perry. As noted in the article, property title insurance has surged to a $15 billion per year industry by guaranteeing buyers that a property is clear of previous liens and debts. Blockchain technology could drastically change this landscape and save a significant amount of time and money if all the property data was decentralized on the blockchain. In addition, the potential to add information concerning construction, damages and improvements to the title could provide invaluable information to buyers. If strategically leveraged, the potential of blockchain technology could completely revolutionize the real estate sector.
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