Media Coverage
Source: Future of Everything
Media Coverage
Press Contacts: Erik Cummins, Matt Hyams, Olivia Thomas
03.30.17
While consumer tastes have been growing and evolving, the real estate industry as a whole has been lagging behind, reports Future of Everything. Real Estate partner Craig de Ridder thinks that the industry will soon be disrupted by emerging technologies that will reduce costs, increase confidence in public records, facilitate transactions without a real estate agent and automate processes.
According to de Ridder, technology companies like IBM and Microsoft are committed to leveraging transformative technology like the Internet of Things and artificial intelligence to have a greater impact on global businesses.
De Ridder also thinks that blockchain, the technology behind bitcoin, is already demonstrating the potential to “revolutionize digital databases and trusted business transactions.” He points to pilot systems in Cook County, the Netherlands and Tbilisi, Georgia as proof.
“As all parties share a single, secure blockchain database to record everything transparently, smart contract functionality will significantly reduce the need for professional advisors” de Ridder said. “Identity management tools will allow individuals and companies to establish that they are reputable without further validation from institutional intermediaries.”
Read more about the future of real estate on Future of Everything.