Blockchain technology is changing the landscape of the world and, as a result, the future of commercial real estate. The capabilities of blockchain technology lend themselves quite nicely to the needs of the real estate industry as a whole. Instead of being hunkered down by escrow companies and extensive paperwork, the blockchain allows transactions to be conducted swiftly and securely.

Here are a few ways blockchain will change commercial real estate in the coming years.

•        Instant Transactions

Blockchain technology will eliminate the need for all parties to be physically present for real estate transactions. The inherent security needs of a commercial real estate transaction usually require frequent in-person meetings, which slows down the process extensively. Using a secure blockchain, investors can sign contracts, fill out paperwork, and transfer funds from wherever they are. Blockchain will expedite transactions considerably and make acquiring real estate more conducive to frequent travelers.

• No More Third Parties

Because blockchain companies run on a peer-to-peer network, every transaction is instantly recorded privately and publicly on every user’s computer. Keeping the seller and buyer on the platform up-to-date every step, eliminating the need for third-party escrow companies to manage the transaction. Commercial and any real estate transactions will become less expensive and faster.

• Easier To Micro-Invest

Many residential and commercial real estate buyers nowadays are not buying entire properties by themselves but are instead working with other investors to syndicate property together. While the cost of transferring money currently presents a hurdle to micro-investors, these transaction fees are almost nonexistent with blockchain. Using this technology makes the blockchain incredibly conducive to anyone looking to make micro-investments.

• Easier To Invest Internationally

Transaction fees also present a hurdle to investing internationally in commercial real estate. Wait times and expedition fees can make it not worth the risk or effort. By using blockchain, parties can bypass the risk of currency exchange and purchase property anywhere.

The use of the blockchain in real estate is an important technology to have and use. However, as its use becomes more widely adopted, blockchain is almost certain to become a major commercial real estate industry player. Get on board now.