Blockchain technology is expected to revolutionize the real estate industry as it becomes better understood and more widely implemented. It seems only fitting to have the 2018 National Settlement Services Summit (NS3) close with a lively discussion of this topic.
During the session titled “Blockchain, Bitcoin and You,” three industry insiders will discuss how the growth of Blockchain and cryptocurrency stands to benefit title agents, lenders, Realtors and borrowers.
“I don’t want to sound too simplistic but it’s just going to change the way we do everything,” Crypto Realty Group CEO Piper Moretti said. “Rather than going to several different sources for all the information that we need as Realtors, we’ll be able to close on a house in a matter of a few days rather than a month to 45 or 60 days. Transactions will be infinitely faster. That’s the end goal, I believe.”
Moretti will be joined by John Heck, director industry general manager at DXC Technology Co. and formerly of IBM, and Matt Einheber, principal at Transfer: Real Estate Intelligence.
In addition to speed, the speakers will detail how Blockchain could improve fraud mitigation, reduce errors, cut down on paperwork and much more.
Moretti said she is working with some startups in the process of developing essentially a one-stop shop for all parts of the real estate transaction, from beginning to end. The efficiency of Blockchain enables them to dream big in terms of ushering in a new modern era of real estate transactions.
“We’ll look at traditional recordkeeping, which is completely archaic, and what is hopefully coming down the pike,” she said. “It really just comes down to adoption. How fast can we do it and how fast can we learn it.”
Some states already are taking steps to better accommodate Blockchain, she noted, such as Arizona and California. Both states have introduced legislation to make Blockchain a legal form of recordkeeping, which could alleviate issues with the use of cryptocurrency that continue to crop up.
The speakers also will touch on how companies can effectively protect borrowers’ sensitive information and keep them abreast of information that is pivotal to a smooth home-buying process.
For more information on the 2018 NS3, including the agenda and a list of speakers, click here. You can register for NS3 online or click here to get information on how to register via mail, fax or phone.