News: In the News
What’s The State Of Blockchain In Real Estate? 10 Experts Share Their Insights
Offit Kurman Attorney Ed Tolchin Featured in Disruptor Daily
By: Sam Mire | March 6, 2019
The state of blockchain for the real estate sector is something like a years-long relationship without the wedding. When a man or woman sinks five years of their life into another person, they usually expect to take the next step. Whether that means popping the question or replying with a giddy “yes,” that investment of time ought to go somewhere meaningful.
Well, investment in blockchain-powered real estate platforms has been in the works for years. It’s time to take the next step.
There are plenty of use cases for blockchain in real estate, but they’re mostly in the speculative or testing stages. Purchasing property using cryptocurrencies has been floated as a way to broaden the real estate markets. (see Bitcoin for real estate). Some believe that blockchain will automate security and verification processes when vetting applications. Fractional property ownership could bring greater liquidity to the real estate marketplace.
When will companies turn financial investment into tech platforms? When will use cases evolve into services that bring real value to brokers, agents, and buyers?
These are questions waiting to be answered. There’s no set timetable on innovation, but it’s high time to pop the figurative question.
“This question cannot be answered with a single response applicable across the real estate spectrum. Many blockchain platforms are moving forward in areas of the real estate industry. But, in most real estate areas, mainstream real estate professionals are only marginally involved in blockchain. The old ways still prevail.”
ABOUT EDWARD TOLCHIN
Edward Tolchin is a Principal and Chair in the firm’s Government Contracting practice group. Mr. Tolchin’s practice is focused on government contracting, business litigation, and technology matters. In the technology arena, Mr. Tolchin has assisted in disputes, licensing, and business development matters for clients ranging from startups to Fortune 500 companies. Mr. Tolchin’s interest in and knowledge of technology issues also has enabled him to assist clients involved in security and privacy disputes and business issues in the cyber arena. Mr. Tolchin has an active blockchain practice and has written and spoken regarding the legal perspectives of blockchain enterprise development and cryptocurrencies.
ABOUT OFFIT KURMAN
Offit Kurman is one of the fastest-growing, full-service law firms in the mid-Atlantic region. With over 185 attorneys offering a comprehensive range of services in virtually every legal category, the firm is well positioned to meet the needs of dynamic businesses and the people who own and operate them. Our twelve offices serve individual and corporate clients along the I95 corridor in the Virginia, Washington, DC, Maryland, Delaware, Pennsylvania, New Jersey, and New York City regions. At Offit Kurman, we are our clients’ most trusted legal advisors, professionals who help maximize and protect business value and personal wealth. In every interaction, we consistently maintain our clients’ confidence by remaining focused on furthering their objectives and achieving their goals in an efficient manner. Trust, knowledge, confidence—in a partner, that’s perfect.
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