Blockchain: Opportunities and Disruptions for Real Estate

Real Estate Institute of Australia have collaborated with Real Estate Institute of New Zealand and the RMIT Blockchain Innovation Hub to release our pioneering report on blockchain.

Released on 29 June 2022, Project Blockchain shows real estate agents can position themselves at the centre of the trust economy and prepare for future challenges and prospects presented by the rapidly expanding blockchain space.

Blockchain: Opportunities and Disruptions is an industry-first report, a direct-action item from our 2021 strategic policy agenda Getting Real.

This gave us a directive to develop an industry evidence base for the evolution of blockchain technologies.

Project Blockchain covers: 

• Blockchain: What and why
• Why blockchain awareness is needed in Australian real estate
• Frontiers of the trust economy: DeFi, DAOs, NFTs and smart contracts
• Real life value propositions for agents, agencies, and property transactions in Australia and throughout the world
• Future directions for Australian real estate

Blockchain technology allows people to transact without the need for a third-party intermediary.

One familiar and simple example is bitcoin. Bitcoin allows any two parties, anywhere in the world, to make a transaction without going through a bank.

Blockchain remains nascent in Australian businesses, but awareness and education will enable practitioners to take advantage of new current technologies and be prepared for future possibilities, from cryptocurrency to NFTs to fractionalised ownership and real estate in the metaverse.

Blockchain and its use cases are stepped out in more detail in the report.

 

For more information

The REIA team are available to give a research briefing to real estate practitioners across Australia.

Please email us to arrange a time