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Blockchain technology—the technology behind crypto currencies—could change the real estate market, but the industry has been slow to adopt it. That is because some myths have perpetuated dangers of the technology, but Natalia Karayaneva, CEO of Propy, a global real estate marketplace that has completed transactions using blockchain technology, says that many of the myths and dangers associated with blockchain are false.

“It’s not very surprising the real estate market has yet to fully embrace blockchain technology, considering real estate is a slow-moving industry and blockchain is still relatively new technology,” Karayaneva tells GlobeSt.com. “It’s an archaic industry and, therefore, slow to adopt new technology in any form. With widespread government approval and increased implementation of blockchain in other major industries, the real estate industry will adopt blockchain technology more quickly—there are many applications in blockchain technology still to come.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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