Since the invention of the internet, Blockchain is the most important technological advancement.
It is a giant database that is distributed in a decentralized manner.
Blockchain is a distributed database existing on multiple computers at the same time. It is constantly growing as new sets of recordings, or ‘blocks’, are added to it. Each block contains a timestamp and a link to the previous block, so they actually form a chain.
The database is not managed by any particular body; instead, everyone in the network gets a copy of the whole database. Old blocks are preserved forever and new blocks are added to the ledger irreversibly, making it impossible to manipulate by faking documents, transactions and other information.
Though at a primitive stage, this technology has a prospect of being very powerful. However, many sectors, such as real estate, have their eyes on this technology.
When it comes to the real estate sector, there are many questions that need to be answered. The most important being will there be a more transparent process during buying and selling?
This is the other side of blockchain story in the real estate sector: https://bit.ly/2tRzWw4
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