AIBC

“The future is here”: Deloitte on Blockchain-backed Real Estate

Posted:Aug 08, 2022 13:04 Category: Blockchain , Crypto , Fintech , Posted by
Kyle Galea

Coming out of one of the Big Four accounting firms, the announcement that Blockchain tech has the potential to disrupt a large if not a majority portion of commercial real estate for the better. A technology native to an ever-more digitized economy, the idiosyncrasies of Blockchain make it an ideal pillar for the future-proofing of this vital sector of the economy. Make way for Blockchain-backed real estate!

Studies by leading advisory firm Deloitte show that Blockchain-backed systems could come to constitute up to 50% of the entire operational process for commercial real estate

Starting off with a review of the technology within a corporate context, Deloitte noted that Blockchain was very contextual in terms of operations and that a company needed to take many different criteria into consideration before building on one. This being said, they did note that its potential was hard to underestimate.

Blockchain technology has significant potential to drive transparency, efficiency, and cost savings for CRE owners by removing many of the existing inefficiencies in key processes.

The report itself noted six different pillars that contributed to Blockchain Real Estate’s potential as a revolution in the CRE space. These are due to the Blockchain’s ability to:

  • Improve property search process
  • Expedite pre-lease due diligence
  • Ease leasing and subsequent property and cash flow management
  • Enable smarter decision-making
  • Transparent and relatively cheaper property title management
  • Enable more efficient processing of financing and payments

 

At the heart of this, Deloitte noted that the technology’s ability to create a paperless and trustless framework for a sector riddled with inefficiencies due to the presence of middlemen, brokers and an inherent lean towards complex transactional data was generally the vital key in enabling this leap forward.

For the full report, click here.

Join us in AIBC Belgrade, Serbia from the 22-25th August:

With the peninsula being known for its natural beauty, rich cultural landscape and fantastic delicacies, the Balkans are renowned for having some of the most quintessentially Mediterranean vistas and experiences. From the Adriatic coastline of Split to the fairytale-esque castle of Lake Bled, the region has a lot to offer the world. This being said, something that fewer may know is the fact that the nations of the Balkans are incubating a nascent but powerfully growing technical expertise when it comes to frontier technology such as Blockchain, GameFi, AI and more. Therefore the region may not only be a rich adventure into the past but my also serve as a window into the very near future.

Join us in Belgrade for the best the industry has to offer and for a window into the future of Deep Tech. To learn more about sponsorship and speaking opportunities or to inquire about attending the event, please contact Sophie at [email protected]. If you’re interested in being one of leading speakers for Belgrade, contact [email protected]

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