One of the features of blockchain technology that cryptocurrencies rest upon is so-called smart contracts. These are programs built into transactions that can control or enforce the terms of a transaction.
In CRE applications like property tokenization, smart contracts could automate payments of revenue shares, release funds for payment only after certain conditions like entitlement are met, or document allowable uses under a lease.
Tal Lifshitz, partner and co-chair of cryptocurrency of the digital asset and blockchain group at law firm Kozyak Tropin & Throckmorton, has seen them work in a broader context. "There are really, really smart people in the space, brilliant developers, smart contracts working perfectly and in such a way that leads me to believe that blockchain technology is inevitable to a certain extent," he tells GlobeSt.com.
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