What industries other than finance do you expect to be most tranformed by blockchain technology?
⛰ Mary Osetinsky 🏖
8 replies
I myself am not in this space think there are a lot of applications in the real estate industry. Potentially replacing the escrow process, smart contracts for mortgages and titles etc. I'm in the early stages of home buying and it seems like a very laborious and complicated process that would lend itself well to the benefits of blockchain. What industries do you think will see a big paradigm shift as a result of blockchain becoming more ubiquitous?
Replies
Katerina@katerinabohlec
What do you think about education? Tokens to validate your know-how? Also only have a superficial understanding of blockchain technology
Share
@katerinabohlec oh yeah cool idea! And maybe it would help students who change schools a lot or are home-schooled. You could send over your ledger of what you have learned and they could integrate you into the new school faster and maybe at a more appropriate level. Kind of like a transcript but decentralized. Could also help highlight schools that need more resources.
How would the process of buying a home be improved?
@dkaravias at a high level I would expect closing costs to be cut drastically and also the whole closing process to be much faster if blockchain can replace some of the intermediaries in the home buying process. Titles could be stored on the blockchain so maybe reduction or removal of title insurance. Fractional home buying with tokenization could lower the barrier to entry for people interested in real estate investing. *I'm not an expert but these all make sense to me, the homebuying process seems outdated and overly laborious in it's current state*
@maryosetinsky Thanks, it sounds like the main issue to solve is the existing decentralised (meaning fractured) process? So actually having less systems, built securely, is the way?
Any industry/department that works in secrecy?!
@himanship Blockchain will surely get more transparency into the game. So yes.
Maybe blockchain technology could be implemented to buy a house with a mortgage?