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Block chain and Crypto-Currency in commercial real estate

Block chain was described by Forbes magazine in this scenario “Imagine that you and your best friend Bob are standing on a stage in an auditorium, and there are 1,000 people in the audience. In front of these 1,000 people, you hand your car keys to Bob, and Bob hands you his Rolex. You declare, “Bob, you now own my car.”Bob declares back to you, “You now own my Rolex.” There are 1,000 witnesses who can each declare, without doubt, that your car now belongs to Bob, and the Rolex belongs to you. If anyone in the audience later tells a conflicting account of who owns the car or the Rolex, the other 999 people will refute it. And, if you take a spare set of your keys and try to give that same car to someone else, the 1,000 audience members will confirm that Bob owns the car, as each of them witnessed the “transaction.” This is the essence of how the blockchain works.” (Forbes WRITTEN BY Mark Zilbert 4/2018)

"We can’t be afraid of the future we must embrace it and profit on the change that others will deny but yet is enviable." - Tomas Johnson, CEO

For commercial real estate this would mean faster transactions, lower transactional cost, and less people involved to close your transaction.

Block chain technology may replace a portion of escrow and title roles in transactions sooner than we think.

We like blockchain because we can use the technology to verify data between different the parties of a transaction. We can connect the vital information between companies and people faster, with more transparency, more efficiently, and with reliability.

We can’t be afraid of the future we must embrace it and profit on the change that others will deny but yet is enviable.