Open AccessApplication of the blockchain technology in the real estate market
Author(s) -
Paweł Opitek
Publication year - 2019
Publication title -
nieruchomości@
Language(s) - English
Resource type - Journals
eISSN - 2719-8030
pISSN - 2657-8247
DOI - 10.5604/01.3001.0014.0548
Subject(s) - blockchain , real estate , business , smart contract , perspective (graphical) , renting , computer security , computer science , telecommunications , finance , engineering , civil engineering , artificial intelligence
The article describes possibilities to apply the blockchain technology in the real estate market.Firstly, the article presents the nature of an indisputable chain of blocks and Initial CoinOffering, smart contracts and digital tokens connected therewith.Certain phenomenon results from this perspective as “smart contracts” consist of a numericalcode and provisions combined into an indissoluble whole. The further part of the articleshows what the land register, sale and rental of premises as well as the real estate managementwith the application of the blockchain may look like. New forms of investing which use smartcontracts and tokens constitute an interesting issue. As no software is free from exposureto threats and human activities are burdened with the risk of error, the barriers hinderingthe application of the new technology were determined. The summary of the article is a briefassessment of advantages resulting from the blockchain and real possibilities of their implementationin the domestic market.