SAN DIEGO—Blockchain technology hasthe potential to fundamentally change commercial real estate. Sosaid panelists at the recent CREW Network and MarketplaceConvention here in San Diego.
“Our industry takes pride in keeping aspects of operationssecret in order to create a competitive advantage—including leasetransactions, property prices, and valuations. However, secrets arehard to keep—and may not even be desired—in today's hyper-connectedand digitized world,” panelists said. “Consider a commercial realestate world—similar to the record industry and publishing—where agreater demand for transparency, technology advancements anddisintermediation is gradually making some of this informationpublic through Blockchain.”
The topic of Blockchain was still very new to many of theaudience members sitting in the session on Thursday, with manyasking the panelists to stop and dumb it down for them in the hopethat they will understand more about how it may impact theirwork.
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