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Blockchain could take over the commercial real estate industry because it allows for seamless and secure transactions, offering a level of transparency and efficiency that is especially important in real estate.
Commercial real estate services company Cushman & Wakefield recently reported that while the adoption of blockchain and cryptocurrency in commercial real estate is still in its early stages, it is expected to become widely adopted in the next decade. According to the company’s Americas Head of Research Revathi Greenwood, “As operational hurdles are addressed, convergence with other technologies grows and questions over scalability are answered, we expect blockchain to influence and impact commercial real estate across several verticals.” Cushman & Wakefield says that blockchain could improve asset management, property searches and smart contracts.
Now is the perfect time to embrace this new technology so you can prepare yourself for what the future holds for commercial investors. Blockchain increases stability and productivity, and enhances everything from due diligence to lease management, which will impact the commercial real estate sector on a global level.