Professors' Corner: Revolutionizing Real Estate Transactions with Blockchain Technology
Recorded on Tuesday, May 12, 2020
- Raymond Tran, Seyfarth Shaw, LLP
- Professor Joshua Fairfield, Washington & Lee School of Law,
Moderator: John Lettera, Elisabeth Haub School of Law and Partner, TradexRealty
Blockchain technology, an online database controlled by a central authority, that is created, managed and used in a decentralized way by its users to secure data, is finding uses in more and more areas of business and the law. In complex commercial real estate transactions, the technology can be used in the due diligence part of transactions, securing financing (verification of borrower data, loan and ancillary documents) and recording of documents. The panelists will show that the acceptance of this technology in transactional practice may be the present as well as the future.