Blockchain in Real Estate: Transforming Transactions and Property Oversight

Abstract

Blockchain technology, a distributed and unalterable ledger system, can potentially change the real estate sector, and especially property title recording. The paper discusses the benefits and restrictions of blockchain title recording systems relative to the present U.S. title registry system, with reference to Nashville (Davidson County), Tennessee. With the benefits of enhanced security, efficiency, and fraud protection, challenges to implementation in the form of high cost, legal compliance, and scalability are yet to be overcome. Comparative reviews of international blockchain application in real estate, using examples from India and Russia, describe both successes and limitations of the technology. Finally, permissioned and private DLTs are discussed, noting that though more efficient, they might not represent a radical overhaul of government-sponsored registries. The results indicate that while blockchain-based title recording systems have direct advantages, they are not yet economically viable for mass implementation.