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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.”

Kelsi Maree Borland

Kelsi Borland is a freelance writer and editor living whose work has appeared in such publications as Travel + Leisure, Angeleno and Riviera Orange County.

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