Blockchain could be a game changer for Property Industry
Property Market could evolve with the development of blockchain technology, says Ortneil Kutama, Media Director at SA Commercial Prop News.
The way property industry transactions are conducted could evolve with the development of blockchain technology, which is effectively the machine behind the cyber currency bitcoin.
National banks are trialling it. Politicians have talked it up. The Reserve Bank (Sarb) Governor Lesetja Kganyago has expressed openness to blockchain technologies , which underlie cryptocurrencies like bitcoin.
A new report from the World Economic Forum predicts that the underlying technology introduced by the virtual currency Bitcoin will come to occupy a central place in the global financial system.
"The emerging technology that runs on a distributed ledger has become increasingly associated with transparency, accountability and open governance because of its supposedly tamper-proof design," says Ortneil Kutama, Media Director at SA Commercial Prop News.
Some experts suggest that the blockchain could completely transform the way we pay for goods and services or exchange information.
"It’s irrefutable that the internet and digital media tools continue to change the way we do business, as it plays a pivotal role in the property sector," says Kutama.
In terms of the real estate industry, the technology has the potential to allow... TO GET THE FULL STORY, CLICK HERE FOR MORE
