One of the leading Blockchain Technology Companies in India

Imagine a place where you don't have to look for any mediator to sell the house for you or deal with untrusted people in purchasing land. All you need to do is simply present all the essential information, and you’re connected to the potential sellers and buyers directly.

This is achievable with the Blockchain Technology.

By changing the manner in which information is stored and exchanged digitally, Blockchain Technology can enhance the way we record, transfer, finance, and manage real estate.

Blockchain in the Real Estate Industry

Blockchain Technology reinforces trusted transactions through a shared network. Any information put on the Blockchain cannot be manipulated. Therefore, it allows for safe transactions. These specific qualities make it particularly helpful in real estate payments.

It, likewise, creates a decentralized database that contains data of all available properties all over the world. It can turn into a public list of what is owned and who is the owner.

Real estate professionals will keep on flourishing in the era of the Blockchain. The guidance, knowledge and hand-holding of real estate professionals will dependably be an essential part of a buyer or seller’s process. However, the handling of money and transactions will automatically change, and that change is as of now in progress. Brokerages will need to adapt their plans of action to understand and enable smart transactions but otherwise will keep on flourishing in the era of the Blockchain.

Advantages of Using the Blockchain Technology

There’s no doubt that the Blockchain Technology can create an incredible impact in the real estate industry. Here are some ways you can utilize the technology:

• Anyone will have the ability to get to the data easily. They won't need anyone’s permission to access the information since they will get it digitally.
• When someone purchases a land, they are given a token, as proof of ownership.
• When a seller wants to sell a property, they can simply put all the details of the property on the Blockchain. Those details will be available to all the buyers who are interested to buy the property.
• In the same way, the seller will have access to all the required information of the buyers. Since there is a quick exchange of data, transactions can be possible without breaking a sweat and less time and friction.
• In a rental market where, after a timeframe, the occupant needs to empty the property and asks a refund, the Blockchain can automatically sort the shares of both the occupant and the property owner.
• After completion of a transaction, you don't have to wait for the cheque to clear.
• The exact amount will be automatically moved from the buyer to the seller. Since there are no brokers, you don’t have to pay any mediator.
• Therefore, transactions are more cost-efficient. Each user has a unique identification number on the Blockchain, which can be shared securely.
• The use of digital currencies lessens the chances of theft and fraud.

The Blockchain Technology had eventually made it possible for people to transfer information easily, quickly, paperlessly, and cheaply.

Blockchain – a digitized, distributed public ledger that immutably records and shares data – can make new business models, increase proficiency, enable real-time data analysis and lower transaction costs in this industry. Softlabs Group, one of the Top Blockchain Companies in India, can help you take advantage of the great potential of the Blockchain Technology with our revolutionary Blockchain development services for the real estate arena.

Other potential advantages of our Blockchain-based products include Easier Property Search Process, Smarter Decision-Making, Transparent Property and Cash Flow Management, Cheaper Property Title Management and Efficient Processing of Financing and Payments.