Today worldwide transactions reached a high record.
Dealing with a large number of transactions actual systems posses a lot of vulnerabilities and inefficiency. Back to our main topic of how a blockchain network can disrupt a real-estate agency business model? First, with the help of a blockchain network, third parties that are involved in transactions will disappear in our case real-estate agencies. And second, the process of buying and selling properties will be done more quickly.
Blockchain Network
For those who are not familiar with the term "blockchain". We can define blockchain as a process that facilitates and records transactions in a business network.
- more efficient and reliable
- cost-effective ( Commission for real-estate agencies will disappear )
- information about transactions are more secure ( In traditional transaction systems every breach can pose a real threat to all system, instead in a blockchain network even is a breakout all system will not be compromised)
- All transactions will be recorded in a shared digital ledger
- A smart contract will appear, it will be an agreement between two people under a computer code
- A public database will be created
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