One of the most promising applications for blockchain technology in the real estate industry is to speed up transactions. SafeChain is a startup whose top priority is working with — instead of eliminating — the local government officials who handle the bulk of the behind-the-scenes record-keeping.
Blockchain is the technology behind bitcoin and other cryptocurrencies. The distributed, secure ledger follows each financial transaction, recording and time-stamping every change. It also takes place without the use of a middleman, like a bank, reducing both time and costs.
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Story excerpt provided by inman.
Written by Byemma Hinchliffe.
Originally published August 27, 2018.