The blockchain technology which underpins cryptocurrency, non-fungible tokens and other digital assets has been around for some time. However, more recently there seems to have been a shift towards the mainstream. The growth of speculative digital assets is one part of this.
Applied to real estate, blockchain technology could enable speedier property deals, more trust in the transaction, higher levels of security and increased transparency for participants.
The democratisation of real estate investment is a driving force for continued developments in this area. Leading asset manager Abrdn is considering ways to enable individual and institutional investors to buy digital tokens relating to real estate. But what exactly does this mean for the future of real estate investment, and what rights would investors actually acquire from their digital tokens?
Russell-Cooke partner David Webster explores the increasing usage of blockchain in real estate - and its potential issues.
Blockchain: taking the digital plunge is available to read by subscription to the Estates Gazette website. A pdf version of the article can be found here.
David is a partner in the corporate and commercial team and advises clients across a range of sectors, including real estate, financial services, professional services and family businesses.
David advises on a variety of corporate and commercial legal matters, with a particular focus on the sale and purchase of companies and businesses, company law and governance issues, and lending and security.