PropTech bringing about Smart contracts.
PropTech bringing about Smart contracts. The most valuable aspect of a real estate transaction is Trust and the lack of this always has impact on it. So its no surprise therefore that PropTech seeks to find a solution to this with the aid of Blockchain technology by making smart contracts available. Smart contracts are intended to digitally facilitate and verify a contract instantly and without the need for third parties. Every transaction is entirely trackable and irreversible. This mitigates transactions from a lot of risk and brings trust in place. It brings security to the procedure, as well as increasing efficiency. Its no surprise that the legal profession is all over smart contracts. Moving forward, smart contract would make investing in Real Estate more attractive to investors as it brings trust into the process. This PropTech innovation will allow contract agreements to be executed as digital smart contracts, using blockchain technology to create a simple and secure transac