The term “Blockchain” has become one of the most common terms in recent years.

According to many experts in the real estate market, the blockchain technology deserves all this attention.

A panel discussion was held in New York City last week titled “How Blockchain Can Change the Future of Real Estate.” The topic was discussed by John L. Heithaus, Director of Heithaus Properties, LLC, and Chao Cheng-Shorland, Co-Founder and CEO of ShelterZoom.

During the discussion session pointed out “Heithaus” for blockchain technology and that it makes a real revolution and contributes to fundamental changes in many industries such as financial services, health care, security and other fields, and according to him, it is time for the real estate industry.

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Heithaus argues that the process of buying and selling homes is still complex and slow and must evolve and keep pace with today’s consumers who are accustomed to an increasingly fast-paced, technology-driven world.

The same Heithaus spokesperson stated:

“Zillow, Trulia, Homes.com and others have done an amazing job revolutionizing the home search experience.

However, when it comes to buying or selling real estate the process needs to be improved.

We must do better.”

He said that the adoption of blockchain will enable it to go a long way towards simplifying real estate transactions.

According to Heithaus, the beauty of a blockchain is that you don’t necessarily need to understand how it works to take advantage of it.

For example: He said that consumers do not know the inner workings of an ATM, yet they still know how to get cash from it on the go quickly and easily, as the process does not require a user manual and does not require sitting in a training class

He emphasized that the key to blockchain adoption in the real estate industry is to ensure that blockchain-based solutions are as transparent and straightforward as possible for the user.

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Cheng-Shorland agreed with everything Heithaus said and added:

“We just need to understand the benefits that blockchain technology can provide.”

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“One of the first things I noticed about the real estate sector is that it’s really fragmented,” she added.

She suggested that buying and selling homes could take months, because “there is no interconnection between all contracts, real estate and people”.

Therefore, the blockchain technology can provide all the necessary solutions to link these three components.

According to these real estate experts, the real estate market sector will be affected by the blockchain technology, and it is only a matter of time.

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